FG unveils $7.1bn sugar plan to cut imports
The Federal Government has unveiled a $7.1bn, 10-year plan to raise Nigeria’s annual sugar production, save $2.1bn in forex and create 110,000 jobs. Read More: https://punchng.com/fg-unveils-7-1bn-sugar-plan-to-cut-imports/
The Federal Government has unveiled a $7.1bn 10-year investment plan aimed at boosting Nigeria's annual sugar production to surpass two million metric tonnes, save $2.1bn in foreign exchange annually, and create 110,000 jobs. Spearheaded by the National Sugar Development Council, the plan includes the construction of 10 new sugar estates, expansion of existing operators, and improved output from established mills.
The NSDC asserts that the initiative is designed to reduce the nation's reliance on imported sugar, as over 97% of the 1.8 million metric tonnes consumed annually is currently refined from imported raw sugar.
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- FG unveils $7.1bn sugar plan to cut imports punchng.com
