‘Sunti Golden Sugar Will Save Nigeria $100m Foreign Exchange Yearly’

attainment of the National Sugar Master Plan (NSMP) target of achieving self-sufficiency in the production of sugar locally.

Coumantaros said the farm at its production peak would provide direct employment for about 10,000 people yearly, and impact up to 50,000 people indirectly, including 3,000 small-scale out growers who will be cultivating sugarcane to feed the mill.

“Like most of our investments in the agricultural sector, the Sunti Sugar Estates will serve to raise the living standards of people particularly those in the rural areas, strengthen the capabilities of small-scale farmers and pro- vide them a route to the market.

“At FMN, we believe that the importance of integrating industry with agriculture cannot be over-emphasised. A farm, without a factory, will have no place for its produce, and a factory without a farm will have no raw materials. Here in Niger State, we have successfully united both industry and agriculture and in doing so have created jobs, developed capacities, and enriched livelihoods which opens the road to a greater future.” In his speech, President Buhari said the project could not have come at a better time, as the country makes her journey out of recession and the economy continues to show considerable progress, “we are reminded of one of the cardinal objectives of this administration, which is to look inwards as we focus on our national endowments in agriculture, and other non-oil sectors for machine growth and development. “The level of work and magnitude of investment that we are witnessing here today is a clear demonstration that our policies on economic diversification are on the right path.” He said the world over; sugar has been identified as a key commodity that is critical to national food security, other than the development of local commitment, saying the investment of such magnitude will not only stem the tide of importation of sugar, but will also save foreign exchange.

“While we have had some challenges in the implementation of the National Sugar Master plan (NSMP) in the past, I believe that our vision of attaining selfsufficiency in sugar in Nigeria, is well within sight with the kind of investment that has been made here.”