Dangote Sugar, BUA Sugar and other operators in the sugar backward programme will benefit from the Federal Government’s $73 million intervention fund for the sector.
The Central Bank of Nigeria (CBN) will disburse the $73 million on behalf of the government to develop the sugar sector infrastructure with irrigation facilities on 10,000 hectares of sugar plantation.
The Minister of Industry, Niyi Adebayo, disclosed this in Abuja on Monday. It was gathered that the 10,000 hectares of sugar plantations will be located in six sites in Northern Nigeria, as the FG reiterated its commitment to the National Sugar Development master plan.
“The intervention is the setting up of a $73 million intervention fund for irrigation for operators of the sugar backward intervention programme.” Adebayo said.
He further stated that, “The goal is to support the development of irrigation infrastructure on 10,000 hectares of sugar plantations located in six sites in Numan, Adamawa State; Sumti, Niger State; Lafiagi, Kwara State; Bacita, Kwara State; as well as Toto and Tunga, both in Nasarawa State.”
In a separate statement on Dangote blog, Aliko Dangote had stated that the master plan, if adhered to, will save Nigeria between $600 million and $700 million annually as forex.
And according to the minister, the intervention fund sought to support the government’s plan to make Nigeria self-sustained producer of sugar.
“The aim is to increase significantly the sugar yield so that we can work within the National Sugar Development Plan master plan, with a view to Nigeria becoming self-sufficient in sugar production and possibly become a net exporter of sugar thus saving the country the large bill that it presently incurred in foreign exchange for the importation of sugar,” he said.
Join the conversation
Support Ripples Nigeria, hold up solutions journalism
Balanced, fearless journalism driven by data comes at huge financial costs.
As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.
If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.
Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.
INVESTIGATION: How roadside foods endanger consumers’ life with trans fat in northern Nigeria
With an estimated 854,000 deaths in Nigeria, and 3,229 attributed to trans fatty acids (TFA) -related cardiovascular deaths, ADESOLA IKULAJOLU visited Nigeria’s...
INVESTIGATION: Untold story of Ondo oil producing communities battling poor health system
Access to quality healthcare is one of the nightmares of communities in Ilaje local government area of Ondo State. Despite...
FEATURE: Ogun residents, waste collectors trade blames, as refuse litter environment
TIJANI ABDULKABEER, a journalist from the University of Ibadan, during a recent trip to Sango Otta, Ogun State took a look...
INVESTIGATION: How online fraudsters siphon victims’ funds through ‘SportyBet’ platform
As Nigeria transits into a cashless society, the evolution also creates opportunities for internet scammers to take advantage of unsuspecting...
SPECIAL REPORT: Enugu govt watches as waste takes over state, threatens public health, environment
In this report, Arinze Chijioke looks at how delays in evacuation of waste in Enugu State encourages indiscriminate waste disposal, its health implications, and how...