The National Sugar Development Council (NSDC) has congratulated Oyo Sugar and Derivatives Industries Limited (OSDL) on reaching the commissioning and test-running stage of its sugar factory in Iseyin, Oyo State, southwest Nigeria.
The Executive Secretary of the Council, Mr Kamar Bakrin, said the milestone marks the culmination of more than a decade of financial, technical and institutional support by the NSDC towards the project.
According to him, the 300-tonnes-per-day (TCD) greenfield sugar mill, developed under the Nigeria Sugar Master Plan (NSMP), is one of the few new-build sugar factories to emerge from the plan’s Backward Integration Programme.
Mr Bakrin commended the promoters of the project and the farming communities in Iseyin for transforming the initiative from a cooperative farming venture into an operational factory.
READ ALSO: Oyo, CGIAR Partner to Boost Cassava, Cocoa Value Chains
He disclosed that the Council funded the procurement of the factory’s core 300 TCD sugar mill at a cost of approximately ₦1.64 billion.
He stated that, as development progressed, the NSDC provided additional funding for sugarcane development and operational support, bringing its total financial commitment to approximately ₦2.2 billion.
The Council also noted that the Oyo State Government contributed an estimated ₦850 million in equity funding towards the completion of outstanding works at the factory.
Mr Bakrin said the milestone was the product of sustained commitment from the NSDC, the Oyo State Government and the project promoters.
“That this factory now stands ready for commissioning is the result of sustained commitment by the Council, by the Oyo State Government and by the promoters themselves. Our work does not end here. The NSDC will remain engaged as OSDL moves into full-scale commercial production, and we expect this project to serve as proof that Nigeria’s sugar sector can be built on locally grown cane,” the Executive Secretary added.
