The Nigerian government says it hopes to achieve sufficiency in sugar production within a decade from now.
Minister of Industry, Trade and Investment, Niyi Adebayo revealed this in Abuja on Thursday at the weekly ministerial briefing organized by the Presidential Communications Team.
He said currently, the nation produces just five percent of its sugar needs but government is making frantic efforts to become self-sufficient in making the product available to Nigerians.
According to Adebayo, “We’re looking at Nigeria being self-sufficient in sugar production in 10 years. We’re hoping and we believe with the programs that we have in place that within the next 10 years, we will be 100% self-sufficient in sugar, and not only that, we’ll be able to export sugar produced in Nigeria.”
Furthermore, the Minister revealed that it has so far generated 15, 000 jobs through its National Sugar Master Plan programme, adding that although returns on investment in sugar production are slow, government is focused on investing in the sector.
He said: “With regards to how much had we realized as return on investment? Return on investment in this sort of industry takes many years.
“And that is why we look for people who have patient capital, who are not in a rush to make a profit, who see that in the long term, they will reap their profits and that’s why we are dealing with the people that we’re dealing with at the present moment. Certainly, with regard to employment, at the moment, the National Sugar Plan has created employment for 15,000 people.”
Russia-Ukraine Crisis
Responding to questions on how the ongoing Russia-Ukraine crisis would affect Nigeria’s economy, the Minister said his ministry is carefully studying the situation in order to advise the government on what to do.
“Well, I can assure you that my ministry is looking at all the issues involved. And since the war has come up, the trade department in my ministry is looking at all the things that we import, and what we export to them with a view to come up with a policy paper, which we will be presenting to the President.
“Like I mentioned earlier, we have mandated our trade department to do an analysis, to look at all the issues involved, and to come up with a report. And once that report is ready, it will be presented to Mr. President, after the presentation I shall come here and brief you about it,” he said.
Investors
The Trade Minister said there are many requests from investors around the world, who want to do business with Nigeria in sugar production
“We get interest every day, we analyse these interests, and we give support to anybody who is interested in participating in the backward integration program of sugar
“We are not giving out loans to the people we’re dealing with. We are dealing with recognized major conglomerates within the private sector, who are investing their own funds in the backward integration programme. All we are doing is we are providing intervention where possible, assisting them with infrastructure, and that is all. We’re not giving out any loans with regards to the sugar backward integration program,” he added.
Ports
Adebayo, who also spoke on ports decongestion in Nigeria, noted that new ports will soon come on board, in order to ease the pressure on Apapa and Tincan ports.
He also explained to Journalists why Calabar and Warri ports are not currently being used.
“On the development of ports, I pointed out earlier that yes, apart from Apapa and Tincan; we have a new port of Lekki coming up. I know that there are plans for a new port to come up in Badagry.
“At the last Presidential Enabling Business Environment Council (PEBEC) meeting, we also looked at the possibility of utilization of Warri port, but there are certain issues and problems with it at the moment that have been looked into. I believe the breakwater has collapsed, so government is looking at how that can be repaired and to see how dredging can be done so that bigger vessels can use that port.
“Calabar port is a problem; apparently there is a court case on that one at the moment with regards to a subcontract for the dredging of that as well. As we all know, Port Harcourt and Onne are operating, and the government is looking at improving the road network to that port so that it can ease the congestion of Lagos,” the Minister explained.
Nneka Ukachukwu
