DanSugar supports BIP with $700m investment in value chain

AS PART OF EF FORTS TO SUP PORT THE BACK WARD INTEGRA TION POLICY (BIP) of the federal government, to make Nigeria a sugar sufficient economy, the management team of Dangote Sugar Refinery is committing over 4700 million to its sugar projects, the company said in a statement.

According to the statement, the move is aimed at making Nigeria more self-sufficient in sugar production on the continent as Nigeria is one of sub-Saharan African largest importers of the commodity, second only to South Africa with an annual import of over $337 million. “Thus, the move was to support the federal government’s backward integration policy on sugar projects,” the

DSR stated.

The Dangote Sugar management, however, assured that with the completion of its sugar projects in Nasarawa and Adamawa under the BIP, the nation would be saved more than half of the foreign exchange expended on sugar imports annually, while also adding that the investment would also lift its people as other peopleoriented infrastructures would come with the sugar projects.

John Beverley, general manager for the BIP, Dangote Sugar, in his comments on the decision by the company said, “When the factory was fully operational, it would have the capacity to crush 12,000 tons of cane per day, while 90MW power would be generated for both the company’s use and host communities. Also, some 500km roads in all would be constructed to ease transportation within the vicinity.”