Money Radio: EP 39 – How Nigeria Can Benefit From Massive Sugarcane Cultivation

Nigeria is said to be the second-largest consumer of sugar in Africa, which makes sugarcane farming very profitable. Although Nigeria has the largest sugar refining plant in Africa, most of the raw materials needed to produce sugar are imported from Brazil and this costs the nation about $500 million annually.   

This situation must change because Nigeria has farming land good enough to produce over 5 million metric tonnes of sugarcane, which can produce about 3 million metric tonnes of sugar and other materials.