The National Sugar Development Council (NSDC) and Chinese conglomerate, SINOMACH have agreed to jointly develop a large-scale sugarcane cultivation and processing project in Nigeria.
Executive Secretary of NSDC, Mr Kamar Bakrin, disclosed this in an interview yesterday in Abuja, adding that the agreement was expected to attract investments worth up to $1 billion.
According to Bakrin, the initiative is one of the early outcomes of the Nigeria-China Strategic Partnership championed by President Bola Tinubu.
A Memorandum of Understanding (MoU) has been signed.
According to the MoU, SINOMACH will construct a sugar processing plant and develop a sugarcane plantation with an initial annual processing capacity of 100,000 metric tonnes, with a long-term target of one million metric tonnes.
He described the agreement as a strategic milestone in Nigeria’s pursuit of self-sufficiency in sugar production.
“2025 is a pivotal year for Nigeria, and we must make bold moves towards food security and economic self-sufficiency,” he said.
Bakrin explained that the project was expected to create thousands of jobs, stimulate rural infrastructure development, conserve foreign exchange, and serve as a model for Nigeria’s broader industrialisation efforts. (NAN)