NSDC approves 2 new investors for sugar sector

The federal government has announced the approval of two companies who have indicated to invest in the country’s sugar sector.

The investment by the companies is coming at a time when the Federal Government is about to commence implementation of the second phase of the ten-year Nigerian Sugar Masterplan (2023-2033).

Executive Secretary of the National Sugar Development Council, Mr Zacch Adedeji, who made the announcement during an interactive session with journalists in Abuja on Wednesday said the Memorandum of Understanding between the two investors and the state governments involved in the deal would be signed and unveiled in the next two weeks.

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The states, according to him, are Nasarawa and Oyo States, adding that all the necessary policy and technical guidelines have been concluded.

These new investors, he stated, would focus on the field and agricultural aspect of the Nigerian Sugar Masterplan, which is the engine room of the policy.