Some 3.21million tonnes of raw sugar valued at N630.7billion ($883.1million) have been imported by sugar merchants to Nigeria within two years. The huge import, it was learnt, has blighted the government’s decision to provide 110,000 jobs under it Backward Integrated Programme (BIP).
According to Trade Data Monitor (TDM), Brazil’s cumulative raw sugar exports to Nigeria from April 2019 to March 2020 season was 1.59 million tonnes valued at N312.4billion ($637.6million), while in 2020/21 season imported raw sugar was 1.62million tonnes valued at N318.3billion ($649.6million). Also, Nigeria’s domestic cane sugar cane production has slumped from 75,000 tonnes to 70,000 tonnes, down by about 6.7 per cent within one year as top sugar producers such as Dangote, BUA and Golden Sugar blamed the underperformance of the domestic sugar production on flooding, conflicts in land acquisition, insecurity, infrastructure deficit, environmental issues and skills deficit…
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News Archive from before July 2018