Bunmi AdulojuThe Federal Executive Council has approved the second phase of the national sugar master plan .
Briefing journalists after the council’s meeting, Niyi Adebayo, minister of industry, trade and investment, said the approval extended the plan by an additional 10 years.Adebayo said investments in national sugar policy was aimed at stimulating self-sufficiency in the commodity, adding that no fewer than 15,000 jobs have been created through key players in the industry.
“Today, council approved the extension from 2023 to 2033. That’s for another 10 years. And the whole idea of the sugar master plan is for the development of the sugar industry, in their self-sufficiency in sugar production.“The plan has several policy measures or fiscal incentives to stimulate demand and attract private sector investment in the sugar industry. And part of the benefits of the sugar master plan is the local production of sugar.
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