•Mr Kamar Bakrin ,CEO National Sugar Development Council (NSDC)
“This is the right time to invest. The Nigerian sugar market is currently valued at over $2 billion, that of Africa is $7 billion and the continental deficit will rise to 13 MT in 2030 due to rising demand and regional supply gaps. The market for sugar by-products is worth $10 billion,” said Mr Kamar Bakrin ,CEO National Sugar Development Council (NSDC).
In a chat with the members of the All Farmers Association of Nigeria (AFAN) who paid him a courtesy call in his office, Mr. Bakrin called on the farmers and other potential investors to seize the immense opportunities currently available in Nigeria’s sugar sector.
The NSDC boss disclosed that the local production of sugar is not just a strategic economic imperative but a profitable venture with an assured market, attractive returns, and strong government backing.
He noted that the country’s sugar consumption figures, foreign exchange realities and rising global supply chain uncertainties have made investments in local production more profitable than ever before.
“It has become very very valuable to produce sugar in Nigeria now. It wasn’t always the case but it is the case now. Four critical factors that have created compelling opportunities to invest in sugarcane growing and processing to meet local and export demand for sugar and associated value-added products include (1) Attractive Market(s) (2) Operational Feasibility (3) Sound Economics and (4) Sustainable and Future-proof Business.
”To bridge the production deficit with the commercial out growers initiative, the Council aims to place at least 50,000 hectares of land under cane and recruit capable commercial farmers with farm sizes ranging from 50 to 200 hectares, particularly within proximity to sugar estates in Numan, Bacita, Sunti, and Lafiagi.