News International Sugar Journal

Nigeria – Investment of $2.57 billion to drive expansion in sugar production [Registered]

Nigeria’s sugar market of over 165 million consumers and opportunities for high returns on investment as over 95% of sugar consumed in the country is imported, have attracted $2.570 million (about N398, 350,000,000) investment from local and international investors, according to press reports from Nigeria. A breakdown of the figure, made available to Financial Vanguard by the National Sugar Development Council, NSDC, showed that Dangote Group is the major investor with a fresh investment of $2 billion on projects in six states to produce about 1.5 million tonnes sugar and expand its Savannah Sugar Numan from current 6,500 hectare (ha)…

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