Nigeria: NSDC, Abuja Chamber of Commerce strike partnership on sugar investment drive

Published 2024년 9월 18일

Tridge summary

The National Sugar Development Council (NSDC) of Nigeria is collaborating with the Abuja Chamber of Commerce and Industry (ACCI) to secure investments for the sugar sector. The NSDC is implementing the Nigeria Sugar Master Plan (NSMP) to achieve self-sufficiency in sugar production, with a goal of producing 2 million metric tons of sugar annually. The plan includes identifying viable sites for sugarcane cultivation, attracting reliable investors, mobilizing $5 billion in funding, and providing necessary infrastructure. The NSDC hopes that the partnership with ACCI will lead to mutually beneficial collaborations.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The National Sugar Development Council (NSDC) has commenced discussion with the Abuja Chamber of Commerce and Industry (ACCI) to seek potential collaborations that can add value to the Council’s search for serious investments into the sugar subsector. The discussion commenced with the visit of ACCI leadership led by Barr. Emeka Obegolu, SAN, to the Executive Secretary of the Council, Mr. Kamar Bakrin. While welcoming his guests, Mr. Bakrin shared the history and mandate of the Council as well as the destination and the direction it must take to get there. “We execute our mandate through what is termed the Nigeria Sugar Master Plan (NSMP), which is in its second phase. The NSMP is a ten-year blueprint geared towards self-sufficiency in sugar production. The target is for us to be able to produce 2 million metric tons of sugar annually, which covers the current annual consumption of about 1.8 million tons. So that is essentially what the objective of the NSMP II, as it is known. It ...

Source: Economicconfidential