Nigeria to Save $56m from Sugar Imports; Targets 1.7m tonnes of local production annually.

The Federal Government says it will save $56 million in foreign exchange by reducing sugar importation while targeting yearly 1.7 million tonnes of local production.
The Minister of Industry, Trade and Investment, Otunba Richard Adeniyi Adebayo said this in Abuja, while taking briefings from management of the National Sugar Development Council, NSDC.
The assured on government’s readiness to render more support to investors and other key players in the nation’s sugar industry, towards achieving sufficient industrial and domestic uses of the commodity. He told the NSDC led by its Executive Secretary, Dr Latif Busari of the desire of the current administration of President Mohammadu Buhari to work with all stakeholders in the industry to address all its challenges. He said that the Buhari administration had done a lot in the area of agriculture and non-oil sectors, stressing that sugar sufficiency would further support such initiatives. The minister expressed optimism that Nigeria would soon be at par with nations like Brazil and Mauritius, who are current diversifying into ethanol energy production through modern sugar technology. The minister added that government would also ensure full implementation of the ten-year national sugar master-plan adopted by the Federal Government in 2012.

Source: Vanguard

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