• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • Mohammed Idris Malagi, Honorable Minister of Information and National Orientation

      FG Reaffirms Non-Interference in ICPC, EFCC Operations

      ICPC Secures Conviction of Rector for Running Unaccredited Degree Programmes

      Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

      ASUU

      Tackle Corruption, Institutional Decay – ASUU Charges FG

  • Fact-Check
  • Economy
    • Customs Begins Live Operations of Automated Excise Register System

      Still on the “National Single Window” Project By Abdulsalam Mahmud

      Minister of Finance Wale Edun and the Comptroller General of Customs Bashir Adeniyi decorating OP Olaniyan

      Customs Generates N3.7trn in H1 2025 as FG Targets Enhanced Private…

      Customs Gets 4 New Deputy Comptrollers-General, 12 ACGs, Promotes 3,312 Officers

      DG NITDA Inuwa Kashifu at the GITEX Nigeria

      Sanwo-Olu, Tijani, Kashifu Urge Digital Innovation as GITEX Nigeria Opens

  • National
    • Military troops

      Army Neutralise Scores of Bandits as 8 Security Guards Killed in…

      Military Arrest Suspected Kidnapper in Niger, Foil Terrorist Attacks in Sokoto

      Military Troops in Action

      Troops Launch Offensive Against Terrorists in Zamfara, Arrest Collaborators in Sokoto

      Commandant General of the Nigeria Security and Civil Defence Corps (NSCDC), Dr. Ahmed Abubakar Audi

      Audi mourns as NSCDC loses 8 operatives after rescue operation in…

      Eid El-Maulid: Kwara Gov Urges Muslims To Embrace Unity, Shun Partisanship

    • Government
      • JUST IN: NNPP Expels Reps Member Abdulmumin Jibrin Days After Visiting…

        Ganduje: A Lifetime of Service Beyond Politics By Garba Yusuf Abubakar

        Eid El-Maulid: Kwara Gov Urges Muslims To Embrace Unity, Shun Partisanship

        Officers of NSCDC Mining Marshals

        Nigeria’s War on Illegal Mining Needs the Media on the Frontlines…

        FG, Experts Urge Information Commissioners to Partner with ICPC on Grassroots…

  • Security
    • Military troops

      Army Neutralise Scores of Bandits as 8 Security Guards Killed in…

      Troops Neutralise Gunrunner, Armed Militia, Recover Weapons in Plateau

      Troops of Operation Hadin Kai after successfully foiling an ambush by Boko Haram/ISWAP Terrorists

      Troops Neutralise Militia After Failed Attempt to Disarm Soldier in Plateau

      NAF, Ground Troops Neutralise 30 Terrorists in Joint Operation at Dar…

      Kano Police Arrest 9 for Setting Patrol Van Ablaze, Probe Murder…

  • Features
    • Ganduje: A Lifetime of Service Beyond Politics By Garba Yusuf Abubakar

      ACP Olumuyiwa Adejobi

      DCP Olumuyiwa Adejobi: The Spokesperson Who Redefined Police Communication

      (L-R) Yahaya Bello and Usman Ododo of APC Kogi

      RECOMMENDED: Godfatherism the Ododo-Bello Way!! By Nafisat Bello

      Officers of NSCDC Mining Marshals

      Nigeria’s War on Illegal Mining Needs the Media on the Frontlines…

      Crisis Communication

      Building Resilience: Crisis Communication in Modern Organizations By Princewell N. Achor

  • State
    • Military troops

      Army Neutralise Scores of Bandits as 8 Security Guards Killed in…

      Troops Neutralise Gunrunner, Armed Militia, Recover Weapons in Plateau

      NAF, Ground Troops Neutralise 30 Terrorists in Joint Operation at Dar…

      JUST IN: NNPP Expels Reps Member Abdulmumin Jibrin Days After Visiting…

      Kano Police Arrest 9 for Setting Patrol Van Ablaze, Probe Murder…

  • Event
    • BUKAA Announces 2025 AGM at BUK New Campus: Join In-Person or…

      Vice President Kashim Shettima and President Bola Ahmed Tinubu

      Shettima at 59: Tinubu Hails VP’s Loyalty, Commitment to Service

      Erasmus Ikhide damaged Vehicle and Dangote Cement Truck

      Erasmus Ikhide Narrowly Escapes Death in Collision with Dangote Truck

      Supporters of Senator Shehu Buba

      PHOTOS: Bauchi Constituents Rally APC to Draft Senator Buba for 2027…

      The authors and their books

      PHOTOS: NIPR Hails Latest PRNigeria Books at Economic Confidential Lecture

    • PR Nigeria Award
  • E-Paper
Home Features Local Sugar Production now one of Nigeria’s most Viable Businesses – NSDC...
  • Features

Local Sugar Production now one of Nigeria’s most Viable Businesses – NSDC Boss

By
Prnigeria
-
October 30, 2024
Executive Secretary/CEO of National Sugar Development Council (NSDC), Mr Kamar Bakrin
Executive Secretary/CEO of National Sugar Development Council (NSDC), Mr Kamar Bakrin

Local Sugar Production now one of Nigeria’s most Viable Businesses – NSDC Boss

The Executive Secretary/CEO of the National Sugar Development Council (NSDC), Mr. Kamar Bakrin, has told potential local and foreign investors that this is the best time to put their money in the local production of sugar in Nigeria.

The NSDC boss told journalists in Lagos that the existence of a large and growing domestic demand which is put at about 2m metric tonnes per annum is one of the reasons the business is viable and profitable.

He added that the export market within Africa is vast and wide enough for investors in Nigeria to explore, adding that while the Nigerian sugar market is valued at $2bn, the export market in Africa is worth $7bn.

Mr. Bakrin also spoke about the macroeconomic environment, especially currency exchange rate, which he said has made local production more competitive and importation more challenging.

“The economics are compelling with high Net Present Value (NPV) and Internal Rate of Return (IRR) at attainable scale, and available financing that matches the business need.

“Investing in the Nigerian sugar industry is operationally feasible with access to land in secure parts of the country, and available global expertise to support local projects.

“There is a strong incentive framework and the government is committed to creating investment-friendly legislation to aid investments that tap into its Backward Integration Plan (BIP),” the NSDC boss said.

Read Also:

  • Army Neutralise Scores of Bandits as 8 Security Guards Killed in Katsina
  • Troops Neutralise Gunrunner, Armed Militia, Recover Weapons in Plateau
  • Troops Neutralise Militia After Failed Attempt to Disarm Soldier in Plateau

He noted that the present is stable while the future is secure for the industry due to a host community integration model introduced by him in which all stakeholders at the community level benefit immensely from sugar projects, thereby, ensuring sustainability.

According to him, in the new model, operators of sugar projects must not only reserve a certain percentage of their investments for massive host community development in terms of schools, clinics and roads, they must also reserve job quotas at managerial levels for the communities and their catchment areas.

He added that the sugar subsector has a wide variety of high-value products that can be produced such as ethanol, bioplastics, packaging materials etc.

Mr. Bakrin who was appointed by President Bola Ahmed Tinubu in October last year, said since he assumed office, he and his team have been working on putting the right measures and policies in place to drive Nigeria towards self-sufficiency in sugar production in the next eight years.

“We are taking deliberate action to accelerate local production and we have declared 2025 as the year of acceleration for sugar development in the country. We are raising a pool of appropriate funding of the right quantum, cost and tenor to create capacity for this development.

“We are also driving more aggressive expansion by existing players, entrance of credible local and global business groups and establishment of commercial sugar cane growers

“Internally, we are upgrading capacity for training manpower for the industry, creating local varieties, multiplying seed cane and driving best practices through extension services,” he added.

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
  • TAGS
  • Kamar Bakrin
  • Net Present Value
Previous articleImo Police Kill IPOB/ESN Member in Self-Defense During Patrol
Next articleNigeria Police Pledge Commitment to Journalists’ Safety and Press Freedom
Prnigeria
Prnigeria
Xing

RELATED ARTICLESMORE FROM AUTHOR

Ganduje: A Lifetime of Service Beyond Politics By Garba Yusuf Abubakar

ACP Olumuyiwa Adejobi

DCP Olumuyiwa Adejobi: The Spokesperson Who Redefined Police Communication

(L-R) Yahaya Bello and Usman Ododo of APC Kogi

RECOMMENDED: Godfatherism the Ododo-Bello Way!! By Nafisat Bello

Officers of NSCDC Mining Marshals

Nigeria’s War on Illegal Mining Needs the Media on the Frontlines By Zekeri Idakwo Laruba

Crisis Communication

Building Resilience: Crisis Communication in Modern Organizations By Princewell N. Achor

Still on the “National Single Window” Project By Abdulsalam Mahmud

Blasphemy Debora and Suspect

Amaye and the Tragedy of Jungle Justice By Umar Farouk Bala

ASUU-STRIKE

Strikes in Nigeria and the Collapse of Public Service By Tahir Ahmad

Child collecting his Vaccine

Her Child Nearly Died Because She Skipped a Vaccine By Hafsat Ibrahim

Nasir Ahmad El-Rufai

El-Rufai and the Politics of Shifting Loyalties, by Kabir Akintayo

VIP Convoys and the Tragedy of Everyday Nigerians By Kabir Abdulsalam

The Arrest of Ansaru Kingpins Mahmud Muhammad Usman aka Abu Bara’a, and Mahmud al-Nigeri aka Mallam Mamuda

Nigeria’s Giant Leap Against Terrorism and the Fall of Ansaru Leaders, By Mukhtar Ya’u Madobi

Recent Posts

  • Army Neutralise Scores of Bandits as 8 Security Guards Killed in Katsina
  • Troops Neutralise Gunrunner, Armed Militia, Recover Weapons in Plateau
  • Troops Neutralise Militia After Failed Attempt to Disarm Soldier in Plateau
  • NAF, Ground Troops Neutralise 30 Terrorists in Joint Operation at Dar Jamel
  • JUST IN: NNPP Expels Reps Member Abdulmumin Jibrin Days After Visiting Tinubu
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Army Neutralise Scores of Bandits as 8 Security Guards Killed in KatsinaTroops Neutralise Gunrunner, Armed Militia, Recover Weapons in PlateauTroops Neutralise Militia After Failed Attempt to Disarm Soldier in PlateauNAF, Ground Troops Neutralise 30 Terrorists in Joint Operation at Dar JamelJUST IN: NNPP Expels Reps Member Abdulmumin Jibrin Days After Visiting TinubuKano Police Arrest 9 for Setting Patrol Van Ablaze, Probe Murder CaseMilitary Arrest Suspected Kidnapper in Niger, Foil Terrorist Attacks in SokotoTroops Launch Offensive Against Terrorists in Zamfara, Arrest Collaborators in SokotoAudi mourns as NSCDC loses 8 operatives after rescue operation in EdoGanduje: A Lifetime of Service Beyond Politics By Garba Yusuf AbubakarDCP Olumuyiwa Adejobi: The Spokesperson Who Redefined Police CommunicationNSCDC, Army Foil Bandit Attack on Plateau FarmersEid El-Maulid: Kwara Gov Urges Muslims To Embrace Unity, Shun PartisanshipTroops Eliminate Bandits, Rescue Abductee, Recover Motorcycles in KatsinaMilitary Foil Terrorists Attack, Recover Dozens of Rustled Livestock in Sokoto, Kebbi
X whatsapp