NSDC TARGETS $1BN INVESTMENT TO CUT SUGAR IMPORTS

The National Sugar Development Council is targeting about $1 billion in investment to strengthen local sugar production and reduce Nigeria’s dependence on imported sugar.

The council said the investment would support the development of sugarcane plantations, processing facilities, and other infrastructure needed to expand domestic production.

The initiative is aimed at closing gaps in Nigeria’s sugar value chain and improving the country’s capacity to meet growing local demand.

NSDC officials said increased investment would also support job creation and provide opportunities for farmers, processors, transporters, and other businesses involved in the sugar industry.

Agricultural stakeholders said Nigeria has significant potential to increase sugar production, but challenges such as limited financing, inadequate infrastructure, irrigation, and access to modern farming technology continue to affect the sector.

They urged investors and government agencies to work together to develop large-scale sugar estates and modern processing plants.

Experts said increasing local production could conserve foreign exchange currently spent on sugar imports while strengthening Nigeria’s agro-industrial sector.

They also called for policies that provide farmers with access to improved sugarcane varieties, affordable financing, technical support, and reliable markets.

The NSDC said the investment drive forms part of broader efforts to develop an efficient and competitive sugar industry capable of supplying the domestic market.

Stakeholders said reducing import dependence would also make the country’s sugar supply chain more resilient to fluctuations in international prices and exchange rates.

The council reaffirmed its commitment to attracting investment into the sector and supporting initiatives that increase local sugar production.

It said successful implementation of the investment plan would strengthen the sugar value chain, create jobs, reduce imports, and contribute to Nigeria’s broader economic development.