The federal government has announced that the soon to launch Phase II of the Nigeria Sugar Master Plan (NSMP) will attract a cumulative investment of $3.5 billion and additional 110,000 jobs for the country’s teeming youths.
Executive Secretary of the National Sugar Development Council (NSDC), Mr Kamar Bakrin, who made the revelation said the plan is a demonstration of the President’s commitment to the NSMP goals of self-sufficiency in sugar production, job creation, and industrialisation.
Ugochinyere Hails FG, Abbas, Gbajabiamila, Others Over Imo Erosion Site Inclusion In 2024 Budget
Court announces date to hear Nnamdi Kanu’s N1bn suit against FG, DSS
Speaking at the Sugar Industry Monitoring Group (SIMOG) meeting in Abuja, emphasized the need for operators, who are members of the Group, to keep to their commitments while promising that NSDC will play its sector development role to take the industry to the desired heights.
“The plan targets 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.
“Crucially, the NSMP II will require between 200,000 to 250,000 hectares of suitable land, and an estimated $3.5 billion in investments. In addition, collaborative efforts will focus on empowering host communities of sugar projects,” he said.
