NSDC mobilises $1bn investment pipeline for sugar self-sufficiency
The National Sugar Development Council (NSDC) is mobilising a $1bn investment to accelerate Nigeria’s sugar self-sufficiency drive, aiming to retain value Read More: https://punchng.com/nsdc-mobilises-1bn-investment-pipeline-for-sugar-self-sufficiency/
The National Sugar Development Council (NSDC) has launched a $1bn investment pipeline to accelerate Nigeria's drive towards sugar self-sufficiency. The initiative, anchored on a partnership with SINOMACH of China and a N10bn Sugar Project Acceleration Fund established with the Bank of Industry, aims to retain more value within the Nigerian economy through jobs, rural incomes, foreign exchange savings, and increased industrial capacity.
The council views the situation as an opportunity to shorten Nigeria's path to self-sufficiency, produce about two million metric tonnes of sugar locally, and build a bio-industrial ecosystem around sugarcane that can support the production of ethanol, animal feed, and electricity.
Brief written by urgent.news from Punch's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
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