NIGERIA’S SUGAR POTENTIAL IS CRITICAL TO ACHIEVING PRESIDENT TINUBU’S $1 TRILLION ECONOMY VISION – MINISTER
23-05-25
By Sadiq Aminu The Minister of Industry, Trade and Investment, Dr. John Owan Eno, says the nation’s sugar’s potential is critical to achieving President Bola Tinubu’s $1 trillion economy vision.
The Minister Stated this during a public hearing on a bill to amend the National Sugar Development Council Act, organized by the house of representatives, Committee on Industry.
Dr Eno while emphasizing the significance of Sugar industry in the nation’s rural development, job creation, and national value generation, noted that the success of the sector depends on the collective attitude and accountability of both public and private sector actors.
The Minister who noted that the sugar industry has benefited from over $2 billion in incentives under the first and second phases of the Masterplan, explained that its contribution to the economy remains underwhelming.
The Executive Secretary National Sugar Development Council (NSDC), Mr. Kamar Bakrin, emphasized the transformative goals of the Sugar Masterplan, among them is the creation of 100,000 high-quality jobs, development of rural infrastructure, and savings of over $1 billion in foreign exchange annually.
In his remarks, Chairman House Committee on Industry.l, Enitan Badru, emphasized the importance of the bill aimed at strengthening the National Sugar Development Council’s capacity to drive the National Sugar Master plan which is crucial to Nigeria’s economic development.
He emphasized that the sugar industry has the potential to create jobs, improve livelihoods, and contribute significantly to national development.
Other stakeholders in their presentation during the public hearing reaffirmed their commitment to the successful implementation of the National Sugar Master plan, which aims to transform Nigeria into a net exporter of sugar and related products.