Sugar masterplan nets $3bn for Nigeria — FG

By Kula Tersoo

Nigerian Sugar Master Plan has netted over $3 billion worth of investments for the country since its commencement, says federal government.
This is even as the Benue state government has commended the country, saying Nigeria has achieved tremendous economic growth in the last few years.
Minister of Industry, Trade and Investments, Mr. Olusegun Aganga, who was in Makurdi yesterday for the National Council on Industry, Trade and Investment (NCITI) workshop, said that the country has the capacity to now produce about 39.5 metric tons of cement annually as against 2 metric tons it was producing in 2003 as well save Nigeria $565.8 million in the energy sector.
He noted, amongst other things, that the sugar master plan would make Nigeria self-sufficient in sugar cane; create over a million jobs and also generate 411.7 megawatts of electricity for the country.
Aganga who was represented by the Minister of State in the ministry, Samuel Ortom, noted that the sugar project which is in seven states of the federation would save the country $565.8 million in the area of electricity generation.
He pointed out that the increase in the production of cement in the last 10 years has made Nigeria a net exporter of cement; a “clear indication that we are truly on the path to industrialization in Nigeria.”
In the petrochemical sector, Aganga observed that the Goodluck Jonathan administration has turned around the sector which has received investment commitments of over $12 billion in petrochemicals, fertiliser and refining.
The acting governor of Benue state, Chief Stephen Lawani, in his remarks however noted that there was also need for the nation to reduce its over-dependence on other sources for its raw materials.