Bakrin: Second Phase of Sugar Master Plan to Target $3.5bn Investments, Ready for Launch

Executive Secretary/Chief Executive, National Sugar Development Council (NSDC), Mr. Kamar Bakrin, said the second phase of the Nigeria Sugar Master Plan (NSMP) would soon be formally unveiled.

He said the plan will require investments worth about $3.5 billion on 200,000 to 250,000 hectares of suitable land.

The plan also targets the production of a minimum of two million metric tons of sugar, 400 megawatts of electricity, and the creation of 110,000 jobs across the value-chain, nationwide.

Bakrin said the the proposed unveiling of the plan was in line with President Bola Tinubu's commitment to the NSMP goals of self-sufficiency in sugar production, job creation, and industrialisation.

Speaking at the Sugar Industry Monitoring Group (SIMOG) meeting in Abuja, the NSDC boss evaluated the performance of the first phase of the plan as well as the implementation roadmap for Phase II.

He stressed the need for the operators, who are members of the group, to keep to their commitments while assuring that the council will play its sector development role to take the industry to the desired heights.

In addition, he said collaborative efforts will focus on empowering host communities of sugar projects.

The NSDC boss further stated that a robust framework had been devised to monitor the performance of NSMP II, establishing clear targets and milestones over the period.

He said the monitoring mechanism would ensure accountability and facilitate timely adjustments to optimise outcomes.

According to him, other key aspect which the council is working on was the amendment of the NSDC Act to be able to appropriately support the growth of the sector and boost investors’ confidence in the sector.

In 2012, the federal government approved and launched the NSMP which is a strategic road map for sugar sector development and the enactment of a conducive policy environment for its implementation.

The policy positions the industry to attract investments in domestic production through backward integration programmes, offering tax incentives to investors.

SIMOG is made up of chief executives of all local sugar manufacturing companies as well as a peer review group that promotes the credibility of outcomes by validating performance data and providing a platform for sharing good practices and measures taken to overcome implementation challenges.

Participants at the SIMOG meeting included representatives from Dangote Sugar Refinery, BUA Foods, Flour Mills, and KIA Africa.