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Extension of sugar policy will boost investors’ confidence – Sugar council

The Executive Secretary, National Sugar Development Council (NSDC), Mr. Zacch Adedeji, has said the extension of the implementation period for the Nigeria Sugar Master Plan…

The Executive Secretary, National Sugar Development Council (NSDC), Mr. Zacch Adedeji, has said the extension of the implementation period for the Nigeria Sugar Master Plan (NSMP) by President Muhammadu Buhari would boost confidence and attract more investments to the industry.

Adedeji stated this while speaking with Daily Trust when he led some senior officials of the council on an inspection visit to the Lafiagi Sugar Company, Kwara State.

The team earlier held a closed-door meeting with officials from BUA and later paid homage to the Emir of Lafiagi, Alhaji Mohammed Kudu Kawu, in his palace

Lafiagi sugar factory is a subsidiary of BUA Foods Ltd.

According to him, extending the implementation period for the NSMP for 10 years would ‘boost investors’ confidence and also attract more investments to the sector.

He said “The granting of the NSMP phase 11 by President Muhammadu Buhari is a reconfirmation of the trust and confidence that he has in the sector.”

This singular act, he noted, points to the fact that “Nigerians are pleased with what the council, our supervising ministry and operators have been doing with regards to the meaningful revitalization of the sugar sector.”

He said the stakeholders are optimistic that a lot would be achieved in this phase 11 of the NSMP.

The sugar council boss assured that the country would attain self-sufficiency in sugar production and export to neighboring African countries.

He said the essence of the meeting was to assess “what has happened in the last 10 years, lessons needed to be included in the new journey and to tinker a bit with what it had done in the past.” 

He noted that its next phase of activities would be anchored on verifiable data and innovation to make its work seamless.

“We are on a fact-finding and inputs-collating mission to the BIP sites of major sugar operators across the country. We are interested in knowing the challenges and hitches hampering your operations here. It is gratifying to note that the Phase 2 of NSMP which was recently granted by President Muhammadu Buhari offers us the golden opportunity to correct mistakes encountered in the first phase.”

“We are getting inputs now to ensure that we start the next phase on a sound footing. This is the first of the many interactions that we would be having in the days ahead. What I expect from you people is the provision of a detailed plan, covering the next five years to help us plan and manage communications. Data is very important here in driving activities in the sector.”