CEO of Dangote Sugar Refinery (DSR) Plc, Aliko Dangote has said sugar masterplan can fetch Nigeria over N289bn, during the visit of some businessmen to DSR in Lagos.
Moreover, the business mogul warned that the BIP scheme must be secured to cover the country’s economy so as to achieve the twin objectives of local production and job creation.
He said, “If the national sugar master plan is followed strictly and the players all follow the rules, the country will be better for it as Nigeria will save between $600 million and $700 million annually as forex.”
The Executive Secretary of the National Sugar Development Council (NSDC), Zacch Adedeji, revealed that Nigeria can reach the 11 million metric tons of sugar demand in Africa yearly if the country succeeds in the ongoing Backward Integration Plan (BIP) in the sugar sector.
Adedeji said Nigerians consume 1.7 million metric tons of sugar yearly and over 200 metric hectares of land must be cultivated to able to reach the demand.