Sugar Council Moves to Unlock $1bn Investment, Tightens Import Quota Rules

Sugar Council Moves to Unlock $1bn Investment, Tightens Import Quota Rules

The National Sugar Development Council (NSDC) has announced plans to unlock a $1bn investment pipeline and tighten enforcement of import quota requirements as Nigeria intensifies efforts to achieve self-sufficiency in sugar production.

The Council said the measures are part of the implementation of the Nigeria Sugar Master Plan (NSMP) 2.0, which seeks to accelerate local production, reduce dependence on imported sugar and retain more value within the Nigerian economy.

The Executive Secretary/Chief Executive Officer of the NSDC, Mr Kamar Bakrin, disclosed the plans when he received members of the Abuja Chapter of the Chartered Institute of Directors (CIoD) on a courtesy visit to the Council’s headquarters in Abuja.

Bakrin said Nigeria’s annual sugar consumption stands at about 1.8 million metric tonnes, with an estimated $1bn spent each year on imports from foreign producers.

He said the Council now viewed the import-dependent market as an opportunity to build domestic production capacity, create jobs, increase rural incomes and conserve foreign exchange.

According to him, the NSMP 2.0 is designed to accelerate Nigeria’s journey towards producing about two million metric tonnes of sugar locally.

Bakrin said the major challenge confronting the sector had historically not been a lack of policies, but weak execution, adding that the Council was now focused on building the institutional structures required to translate policies into measurable outcomes.

“We don’t lack policy. What we have struggled with is world-class execution,” he said.

The NSDC boss explained that the Council was also repositioning sugarcane as the foundation of a broader bio-industrial ecosystem rather than treating sugar…