Post by Trade Forum on Oct 31, 2022 20:47:06 GMT 1
National Sugar Master Plan: FG Plans $350m Savings, Targets 110,000 Jobs in Sugar Production
The Federal Government says it has approved Phase II of its 10-year National Sugar Master plan with the goals of creating 110,000 new jobs and saving $350m yearly.
The Minister of Industry, Trade and Investment, Niyi Adebayo, announced this recently to State House correspondents shortly after the weekly Federal Executive Council meeting presided over by the President, Muhammadu Buhari, at the Presidential Villa, Abuja.
Adebayo also noted that the government was targeting to save $65.8m on ethanol import and generate 400 megawatts of electricity.
What is Sugarcane Ethanol?
Sugarcane ethanol is an alcohol-based fuel produced by the fermentation of sugarcane juice and molasses. Because it is a clean, affordable and low-carbon biofuel, sugarcane ethanol has emerged as a leading renewable fuel for the transportation sector.
Is sugarcane ethanol sustainable?
What makes ethanol from sugarcane attractive as a replacement for gasoline is that it is essentially a renewable fuel while gasoline derived from petroleum is not. The use of sugarcane-based ethanol does not result in significant net emission of GHGs (mainly CO2).
According to him, public and private sector players in the sugar trade—such as Dangote, BUA and Golden Sugar—had created 15,000 jobs while more efforts would go into the national sugar policy aimed at stimulating self-sufficiency in the commodity.
“Today, my ministry brought a memo seeking Council’s approval for the second phase of the National Sugar Master plan. In 2012, the first phase of the sugar master plan was approved, lasting from 2012 to 2022.
“Today, the Council approved the extension from 2023 to 2033. That’s for another 10 years and the whole idea of the Sugar Master Plan is for the development of the sugar industry for self-sufficiency in sugar production.
“The plan has several policy measures or fiscal incentives to stimulate demand and attract private sector investment in the sugar industry. Part of the benefits of the sugar master plan is the local production of sugar. He said that during phase one, we have four (4) major investors investing in the industry. These are Dangote Sugar, BUA Sugar, Golden Sugar Company, which is a flour mill, Care Africa Group, which bought the Baccita sugar mill.
“They have jointly created 15,000 jobs, and they have over almost 200,000 hectares of land that have been acquired for the production of sugarcane to enable them to produce sugar locally. So, Council approved phase two of the National Sugar Master plan” he said.
He added that the sugar master plan has seen many successes since it was first approved in 2012.
In May, 2021, Aliko Dangote, chairman of Dangote Sugar Refinery, said that Nigeria will save up to $700 million annually if stakeholders comply with the National Sugar Master Plan (NSMP).
In 2008, the national sugar development council (NSDC) developed the NSMP to boost the country’s self-sufficiency in sugar production.
Sugar data from the NSDC for 2019 put Nigeria’s consumption at 1.4 million tonnes, production stood at 38,597 tonnes, while the country imported 1.36 million tonnes during the period.
A major component of the NSMP is the Backward Integration Programme (BIP) undertaken by Dangote Sugar Refinery, BUA Sugar Refinery and Flour Mills’ Golden Sugar.
Speaking at the company’s 15th annual general meeting in Lagos, Dangote said a distortion in the sugar master plan framework would affect the target of self-sufficiency in sugar production.
He said the BIP would reduce importation of raw materials and save the country’s foreign exchange.
“If the National Sugar Master Plan is followed strictly and the players all follow the rules, the country will be better for it as Nigeria will save between $600 million and $700 million annually as forex,” he said.
Our company is one of the best companies in Agro-Export Business in Nigeria today. We train individuals and corporate organizations on how to do Export Business the right way; if you are interested, please contact the admin of this forum now for further details.
The Federal Government says it has approved Phase II of its 10-year National Sugar Master plan with the goals of creating 110,000 new jobs and saving $350m yearly.
The Minister of Industry, Trade and Investment, Niyi Adebayo, announced this recently to State House correspondents shortly after the weekly Federal Executive Council meeting presided over by the President, Muhammadu Buhari, at the Presidential Villa, Abuja.
Adebayo also noted that the government was targeting to save $65.8m on ethanol import and generate 400 megawatts of electricity.
What is Sugarcane Ethanol?
Sugarcane ethanol is an alcohol-based fuel produced by the fermentation of sugarcane juice and molasses. Because it is a clean, affordable and low-carbon biofuel, sugarcane ethanol has emerged as a leading renewable fuel for the transportation sector.
Is sugarcane ethanol sustainable?
What makes ethanol from sugarcane attractive as a replacement for gasoline is that it is essentially a renewable fuel while gasoline derived from petroleum is not. The use of sugarcane-based ethanol does not result in significant net emission of GHGs (mainly CO2).
According to him, public and private sector players in the sugar trade—such as Dangote, BUA and Golden Sugar—had created 15,000 jobs while more efforts would go into the national sugar policy aimed at stimulating self-sufficiency in the commodity.
“Today, my ministry brought a memo seeking Council’s approval for the second phase of the National Sugar Master plan. In 2012, the first phase of the sugar master plan was approved, lasting from 2012 to 2022.
“Today, the Council approved the extension from 2023 to 2033. That’s for another 10 years and the whole idea of the Sugar Master Plan is for the development of the sugar industry for self-sufficiency in sugar production.
“The plan has several policy measures or fiscal incentives to stimulate demand and attract private sector investment in the sugar industry. Part of the benefits of the sugar master plan is the local production of sugar. He said that during phase one, we have four (4) major investors investing in the industry. These are Dangote Sugar, BUA Sugar, Golden Sugar Company, which is a flour mill, Care Africa Group, which bought the Baccita sugar mill.
“They have jointly created 15,000 jobs, and they have over almost 200,000 hectares of land that have been acquired for the production of sugarcane to enable them to produce sugar locally. So, Council approved phase two of the National Sugar Master plan” he said.
He added that the sugar master plan has seen many successes since it was first approved in 2012.
In May, 2021, Aliko Dangote, chairman of Dangote Sugar Refinery, said that Nigeria will save up to $700 million annually if stakeholders comply with the National Sugar Master Plan (NSMP).
In 2008, the national sugar development council (NSDC) developed the NSMP to boost the country’s self-sufficiency in sugar production.
Sugar data from the NSDC for 2019 put Nigeria’s consumption at 1.4 million tonnes, production stood at 38,597 tonnes, while the country imported 1.36 million tonnes during the period.
A major component of the NSMP is the Backward Integration Programme (BIP) undertaken by Dangote Sugar Refinery, BUA Sugar Refinery and Flour Mills’ Golden Sugar.
Speaking at the company’s 15th annual general meeting in Lagos, Dangote said a distortion in the sugar master plan framework would affect the target of self-sufficiency in sugar production.
He said the BIP would reduce importation of raw materials and save the country’s foreign exchange.
“If the National Sugar Master Plan is followed strictly and the players all follow the rules, the country will be better for it as Nigeria will save between $600 million and $700 million annually as forex,” he said.
Our company is one of the best companies in Agro-Export Business in Nigeria today. We train individuals and corporate organizations on how to do Export Business the right way; if you are interested, please contact the admin of this forum now for further details.
