Tap into Nigeria’s $2bn sugar market, NSDC boss tells investors

The National Sugar Development Council is urging the All Farmers Association of Nigeria and investors to seize opportunities in Nigeria’s sugar sector, with Executive Secretary Kamar Bakrin highlighting a market valued at over $2 billion.‎Addressing the farmers who paid him a courtesy call in his office, Bakrin called on stakeholders to join the national effort to reduce the country’s overdependence on imported raw sugar and its by-products.
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In a statement issued after the visit on Sunday, the NSDC boss stated that local production of sugar is not only a strategic economic imperative but also a profitable venture with an assured market, attractive returns, and strong government backing.
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‎“This is the right time to invest. The Nigerian sugar market is currently valued at over $2 billion, that of Africa is $7bn, and the continental deficit will rise to 13 MT in 2030 due to rising demand and regional supply gaps. The market for sugar by-products is worth $10bn,” Bakrin said.‎He noted that the country’s sugar consumption figures, foreign exchange realities and rising global supply chain uncertainties have made investments in local production more profitable than ever before.The Executive Secretary said that the prevailing macroeconomic conditions have made local production more competitive and importation more challenging.
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Bakrin informed the gathering that, following a thorough land viability assessment, the Council now possesses a land bank of 150,000 hectares suitable for sugarcane cultivation and available to new investors.

The hectares of land, he said, lie in secure regions with a favourable climate, proximity to water sources, and community support.“It has become very, very valuable to produce sugar in Nigeria now. It wasn’t always the case, but it is the case now. Four critical factors that have created compelling opportunities to invest in sugarcane growing and processing to meet local and export demand for sugar and associated value-added products include (1) Attractive Market(s), (2) Operational Feasibility, (3) Sound Economics and (4) Sustainable and Future-proof Business.
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‎”To bridge the production deficit with the commercial outgrower initiative, the Council aims to place at least 50,000 hectares of land under cane and recruit capable commercial farmers with farm sizes ranging from 50 to 200 hectares, particularly within proximity to sugar estates in Numan, Bacita, Sunti, and Lafiagi,” he added.
Also speaking at the meeting, the President of the association, Dr. Faruk Mudi, accepted the task of mobilising its members to show more interest in the sugar industry, especially the commercial outgrower scheme.He admitted that the country’s local production numbers compared to consumption are not good enough, noting that addressing the deficit is not a task for the NSDC alone.