The Nation Newspaper Sugar industries require $3.5bn investment for production, creation of 110,00 jobs
The Executive Secretary of the National Sugar Development Council , Kamar Bakrin said that the sugar master plan will need between 200,000 to 250,000 hectares of suitable land, and an estimated $3.5 billion in the production of a minimum of 2 million metric tons of sugar, 400 MW of electricity, and the creation of 110,000 jobs across the value-chain, nationwide.
The government is set to formally unveil Phase II of the Nigeria Sugar Master Plan with the ES assuring that NSDC will play its role in taking the industry to the desired heights, by ensuring the government focuses on empowering host communities with different projects.Bakrin said: “This is in demonstration of President Ahmed Tinubu’s commitment to the NSMP goals of self-sufficiency in sugar production, job creation, and industrialisation.
“In 2012, the government approved and launched the NSMP which is the strategic road map for the sugar sector’s 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.
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Sugar industries require $3.5bn investment for production, creation of 110,00 jobsThe Nation Newspaper Sugar industries require $3.5bn investment for production, creation of 110,00 jobs
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