The minister of state, Industry, Federal Ministry of Industry Trade and Investment, John Owan Enoh has inspected the Savé Sugar Company, a joint venture between Nigeria and Benin Republic, decrying the current decrepit condition of the facilities
Inspecting the once thriving company located in Cotonou, Benin Republic on Tuesday, the minister has expressed appreciation for the extra security measures put in place by the government of Benin Republic to secure the Savé Sugar Company which was Established in 1975.
Special adviser to the minister on media, Diana Tiku Nsan, said on arrival in Cotonou, Sen. Enoh paid a courtesy visit on his Benin counterpart, minister of Commerce and Industry, Benin Republic, Shadiya Alimatou Assouman, where a meeting with both ministers resonated with shared concerns and aspirations of both countries.
Assouman said “this visit marks a historic moment. Since the inception of the company, no Nigerian minister has visited the facility. Your bold step signifies a commitment not only to the sugar complex but also to the bilateral relations between our nations ” .
Nigeria’s minister, who proceeded on an on-site inspection of the facility, observed that the company has experienced changing fortunes and now lies almost decrepit with the last managers, Compliant of China, having vacated in May 2023, at the expiration of a 20-year lease agreement.
After the assessment, the minister said, “various meetings at both technical and policy levels have continued to be held, but an action is needed. This visit is an eye opener, and more than anything else, we seek its revival. The two countries, as a matter of urgency, need to get a worthy core investor within the shortest possible time.
This is not just about sugar; it is about livelihoods, partnerships, and the shared future of our nations.However, where that is not feasible, the recommendation of the 2021 joint assessment report which submits to the selling of our equity in the company will be brought to the table for possible consideration. Action starts today.”
Nsan also said “the deteriorating situation with the Savé Sugar Company Ltd predates the exit of the Chinese. A joint assessment visitation in 2021 was quite damning and recommended that Nigeria sell its equity holding in the company. This was declined by the Buhari administration, which instead preferred that upon expiration of the lease agreement with Compliant of China, the two governments competitively source for new core investors.
