No fewer than 13 vessels have offloaded 484,040 tonnes of raw sugar worth N111.3 billion ($242 million) at the Lagos Port in the last three and half months. It was learnt that more sugar had come into the country since the beginning of last quarter following the poor implementation of National Sugar Master Plan (NSMP), which has not yielded positive results since 2013.
Even through the sugar master plan will terminate in 2022, currently, the country’s production capacity is less than 300,000 tonnes. According to International Trade Centre (ITC), Nigeria imported $463,387,000 worth of raw sugar in 2019 to become the second largest importer of the commodity in Africa. Last week, four vessels offloaded 193,990 tonnes of the commodity at Greenview Development Nigerian Limited (GDNL) Apapa Bulk Termial Limited (ABTL), Lagos Port…
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News Archive from before July 2018