Aliko Dangote
Sept. 21, 2021
The Chairman Dangote group, Aliko Dangote says the execution of its Sugar Master Plan could fetch Nigeria over $700 million yearly.
The group in a statement by its Corporate Affairs Manager, Mr. Francis Awowole, said Dangote disclosed this in a policy plan while hosting some visiting investors in his office in Lagos.
He said that the National Sugar Master Plan (NSMP) when executed as designed could fetch the nation foreign exchange in excess of $700 million yearly from the backward integration component of the plan.
He advised that the BIP scheme must be protected to insulate the Nigerian economy to be able to achieve the twin objectives of local manufacturing and job creation.
“If the national sugar master plan is followed strictly and the players all follow the rules, the country will be better for it as Nigeria will save between $600 million and $700 million annually as forex,” he said.
It added that Dangote Group Executive Director, Government and Strategic Relations, Mr. Mansur Ahmed, had described Nasarawa State as one of the easiest states in the country to do business.
While the General Manager for the BIP, Dangote Sugar, Mr. John Beverley, said when the factory was fully operational, it would have the capacity to crush 12,000 tons of cane per day, while 90MW power would be generated for both company’s use and host communities.
The group said that its Phase II of the project would be the largest integrated plant in Africa, when completed.
“It will be recalled that the Minister for Industry, Trade and Investment, Otunba Niyi Adebayo, during his working tour of the Dangote’s expansive Savannah Sugar Company (SSCL) Ltd in Numan, Adamawa and Tunga sugar project site in Nasarawa, described the projects as ‘huge, impressive and amazing’.
“Dangote’s sugar plantation in Nasarawa is a very impressive sight. Amazingly, such a project exists in this place.
“What we have seen so far from all the plantations we have been to are very impressive. We are impressed with the level of work they are doing,” it quoted the minister to have said.
