Despite the Federal Government’s plan to produce 200,000 metric tonnes of sugar yearly, its importation rate has risen. Correspondent gathered this, that the country has been producing only 70,000 tonnes, far off its target because of poor infrastructure and high cost of manufacturing refined sugar. Findings revealed that between April this year and this year […]
Read More Nigeria imported $227 million worth of sugar in the first seven months of this year, a report by the Central Bank of Nigeria (CBN) has revealed. According to the CBN’s compilation of funds used for sugar imports reported by Bloomberg yesterday, the highest monthly value of imports of $79.1 million was recorded in June. The […]
Read More The Kwara State Government has applauded the efforts of BUA towards ending sugar importation by investing $300m in sugar production in Lafiaji, Kwara State. A statement from the firm quoted the Governor, Kwara State, Mr. Abdulfatah Ahmed, as saying that the investment was capable of creating 6000 direct and 19,000 indirect jobs. He said, “I […]
Read More [su_dropcap]T[/su_dropcap]he Central Bank of Nigeria has dedicated about N26bn to support the production of sugar in the country as part of measures to promote economic diversification. The CBN Governor, Mr. Godwin Emefiele, stated this during a facility tour of the new completed Sunti Golden Sugar factory located in Sunti, Niger State. A statement from the bank on […]
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