The Federal Government of Nigeria, through the National Sugar Development Council (NSDC), is actively encouraging both local and international investors to explore opportunities within the nation’s burgeoning sugar sector, which boasts a robust local demand and a $7 billion African export market. Kamar Bakrin, the Executive Secretary and CEO of NSDC, emphasized during a recent meeting with business editors in Lagos that Nigeria’s annual sugar consumption is around two million metric tonnes, translating to a local market value of approximately $2 billion.
Bakrin highlighted the strong domestic demand as a key factor in the sector’s viability and profitability. He noted that with Africa’s expansive export market, valued at $7 billion, Nigeria is well-positioned to cater to both local and regional needs. Additionally, he pointed out that recent fluctuations in currency have made local sugar production increasingly competitive, presenting challenges for importers.
During the session, Bakrin also introduced a community integration model aimed at promoting sustainability and stability within the sugar industry. Under this model, sugar project operators are encouraged to invest in local development initiatives, such as education, healthcare, and infrastructure, while also reserving managerial job opportunities for local community members. He stated, “This model ensures that all stakeholders benefit, enhancing the industry’s security and sustainability.”
Looking ahead, the NSDC has declared 2025 as “the year of acceleration” for the sugar sector, pledging to secure necessary funding and facilitate the entry of both domestic and global investors. Bakrin affirmed the council’s commitment to boosting local production, enhancing training programs, developing local sugar varieties, and implementing best practices within the industry.
