$4.5bn Required To Realise National Sugar Masterplan – NSDC

The executive secretary of the National Sugar Development Council (NSDC), Kamar Bakrin, has said the country requires $4.5 billion in investments to realise the National Sugar Masterplan.

Bakrin emphasised the Sugar Masterplan‘s transformative goals, such as the creation of 100,000 high-quality jobs, development of rural infrastructure, and savings of over $1 billion in foreign exchange annually.

He spoke at a one-day public hearing yesterday at the National Assembly complex in Abuja on a bill to amend the National Sugar Development Council Act.

The NSDC boss said the council is actively working to attract the required $4.5 billion in investments, stressing that investor confidence is critical and hinges on transparent and rule-based policies.

Bakrin expressed concerns over the recent directive mandating that 50% of the sugar levy be remitted to the Consolidated Revenue Fund (CRF), warning that such measures could undermine the sector’s transformation goals.

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“The sugar levy was specifically introduced to fund the development of the sector, unlike import duties. Redirecting those funds could derail the country’s industrial ambitions,” he warned, adding that the NSDC has established a technical committee to thoroughly review the proposed amendments and provide feedback.

Minister of Industry, Trade and Investment, Dr John Eno, said sugar has the potential to achieve President Bola Tinubu’s $1 trillion economy vision.

“Sugar plays a critical role in rural development, job creation, and national value generation. The NSMP is a vital component of our industrialization drive. However, its success depends on the collective attitude and accountability of both public and private sector actors,” he said.

“This amendment is intended to strengthen the law, correct past lapses, and ensure we achieve real import substitution and sustainable local capacity,” he noted.

Also speaking was the director general of the National Agency for Food and Drug Administration and Control (NAFDAC), Prof. Mojisola Adeyeye, who observed that some of the proposed provisions of the bill overlapped with the agency‘s core regulatory functions as outlined in Section 5 of the NAFDAC Act.

“We urge the National Assembly to clearly delineate the roles of NSDC to avoid conflict and duplication. NAFDAC remains the regulatory authority for all food imports, including sugar, to ensure consumer safety and quality standards,” she said.

Speaking for the BUA group, Dr Aliyu Idi Hong expressed the company’s commitment to the National Sugar Masterplan, noting the company‘s substantial investments in the sector.

“We have developed a nearly 50,000-hectare sugar plantation, with 20,000 hectares already under cultivation, and we’re acquiring another 50,000 hectares. While we’re not where we want to be yet, we are making progress,” he said.

However, Hong urged policymakers to consider the economic impact of regulatory changes on producers and consumers.

“Fiscal policies must be holistic and sensitive to the realities of Nigerians. As a socially responsible company, we support the backwards integration policy and commend the ongoing reforms,” he added.

In his opening address, Rep. Enitan Dolapo Badru, chairman of the House Committee, said the hearing was part of efforts to develop inclusive legislation to strengthen the NSDC’s capacity to drive the NSMP.

“We urge all stakeholders to contribute constructively. Our goal is to build a sustainable and competitive sugar industry that creates jobs, improves livelihoods, and contributes significantly to national development,” he said.