Nigeria targets sugar self-sufficiency with $1 billion pipeline, N10 billion fund
The National Sugar Development Council (NSDC) has intensified efforts to achieve sugar self-sufficiency in Nigeria, leveraging a $1 billion investment partnership and a N10 billion project acceleration fund to boost local production and reduce dependence on imports. The post Nigeria targets sugar self-sufficiency with $1 billion pipeline, N10 billion fund appeared first on Nairametrics .
The National Sugar Development Council (NSDC) in Nigeria is working towards achieving sugar self-sufficiency through a $1 billion investment partnership and a N10 billion project acceleration fund. The NSDC is repositioning Nigeria's sugar industry as a major investment destination under the Nigeria Sugar Master Plan (NSMP) 2.0, with a focus on expanding domestic production and strengthening value chains across the sector.
The NSMP 2.0 aims to raise domestic sugar production to approximately 2 million tonnes, enabling the country to meet local demand through local output. The NSDC has launched the N10 billion Sugar Project Acceleration Fund in partnership with the Bank of Industry (BOI) to provide financing for feasibility studies, project preparation, and other pre-investment activities.
The fund will create a pipeline of bankable projects capable of accessing a $1 billion Engineering, Procurement, Construction and Finance (EPC+F) agreement signed with Chinese industrial giant SINOMACH.
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