Abuja: The National Sugar Development Council (NSDC) has entered into a significant agreement with the Chinese conglomerate, SINOMACH, to develop a large-scale sugarcane cultivation and processing project in Nigeria. Executive Secretary of NSDC, Mr. Kamar Bakrin, revealed in an interview with the News Agency of Nigeria (NAN) that this agreement is expected to attract investments worth up to $1 billion.
According to News Agency of Nigeria, the initiative is one of the initial results of the Nigeria-China Strategic Partnership, led by President Bola Tinubu. A Memorandum of Understanding (MoU) has been signed, under which SINOMACH will construct a sugar processing plant and develop a sugarcane plantation with an initial annual processing capacity of 100,000 metric tonnes, eventually aiming for a capacity of one million metric tonnes. Bakrin described the agreement as a strategic milestone in Nigeria’s pursuit of self-sufficiency in sugar production, emphasizing that 2025 is pivotal for Nigeria to make bold moves towards food security and economic self-sufficiency.
Bakrin further explained that the project is anticipated to create thousands of jobs, stimulate rural infrastructure development, conserve foreign exchange, and serve as a model for Nigeria’s broader industrialization efforts. He highlighted that the partnership with SINOMACH combines engineering, procurement, and construction with development financing, which is essential for agro-industrial transformation. NSDC is committed to providing all necessary support to ensure the smooth commencement of the project, including facilitating approvals, land acquisition, and other authorizations.
Additionally, Mr. Li Yu, Vice President of SINOMACH, praised Nigeria’s implementation of the Nigeria Sugar Master Plan (NSMP), describing it as a ‘sweet revolution’ linked to food sovereignty and economic dignity. He expressed belief that the partnership will not only boost Nigeria’s sugar self-sufficiency but also promote rural development, create employment, and enhance agricultural modernization. Li also mentioned that SINOMACH is exploring RMB-based financing models to fund the project, a move expected to help lower financing costs and expedite approvals in China. He conveyed confidence that the chosen host state could eventually become the ‘Sugar Bowl of West Africa.’