The Federal Authorities has formally launched a $73 million intervention fund for sugar irrigation, in a bid to spice up Nigeria’s  Sugar backward integration programme.

This was signed on Tuesday between the FG and operators of the Sugar backward integration programme, in response to the Information Company of Nigeria.

The occasion was chaired by Nigeria’s Commerce Minister, Niyi Adebayo, on the Presidential Villa, as he said that the mission entails irrigation infrastructure on 10,000 hectares of sugar plantations positioned in six websites

What the Minister is saying

Mr Adebayo stated, “The intervention is the establishing of a 73 million-dollar-intervention fund for irrigation, for operators of the Sugar backward Intervention Programme.

“The aim is to assist the event of irrigation infrastructure on 10,000 hectares of sugar plantations positioned in six websites in Numan (Adamawa State), Sumti  (Niger State), Lafiagi (Kwara), Bacita (Kwara) in addition to Toto and Tunga, each in Nasarawa state.”

“The Central Financial institution of Nigeria can also be concerned within the provision of the required funding for the mission as properly.

He stated that the purpose is to extend considerably the sugar yield in order that we will work throughout the Nationwide Sugar Improvement grasp plan, with a view to Nigeria changing into self-sufficient in sugar manufacturing and presumably changing into a internet exporter of sugar.

“This might save the nation the big invoice that it presently incurs in international trade for the importation of sugar,” he stated.

Government Secretary, Nationwide Sugar Improvement Council (NSDC), Mr Zacch Adedeji stated the Preliminary actions could be the identification of the precise mission websites for every operator, which embody the framework for design and engineering providers for the in-field and bulk water provide methods, mission administration and upkeep specs.

Additionally, the adoption of a enterprise mannequin and costing, amongst others, have been concluded lengthy earlier than the formal commissioning of this laudable initiative.

What you need to know

Recall Nairametrics reported in September that Aliko Dangote, Africa’s richest man and Chairman of Dangote Sugar Refinery said that the strict compliance to Nigeria’s sugar grasp plan can save the nation as much as $700 million yearly in international trade.

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