Following misconceptions over the Central Bank of Nigeria selection of Dangote Sugar Refinery, BUA Sugar Refinery, and Golden Sugar Company, owned by Flour Mills of Nigeria Plc as the sole importers of sugar in the country, the Executive Secretary, National Sugar Development Council , Mr.
Sugar importation is based on a quota that is issued under the terms of our Master Plan to any company that can produce a minimum of 100,000 metric tons of sugar locally. There has been a controversy in the sugar sector, especially with the recent dispute between two dominant players in the industry – Dangote and BUA and allegations of predatory pricing. How have you been able to douse this potential crisis?
The NSDC, thereafter, selected those who can achieve a backward integration programme to add value to the raw sugar being brought in. This has led to the creation of hundreds of thousands of jobs for Nigerians working in the three local refineries. So, NSDC has done very well in increasing the country’s sugar refining capacity. That is the starting point. Today, the country does not import refined sugar.
Well, at 43, I am not so young. I have over 20 years of experience and much of my experience is in the fast-moving consumer goods sector where I have operated at very senior levels, negotiating with and advising multinationals and managing multi-million dollar projects. So, it is a sector that I am very familiar with and I am conversant with the challenges and the opportunities.
We are also working with the Nigeria Ports Authority and the Customs to try and ensure that equipment needed by our operators gets out of the ports on time to avoid congestion. This is because sugar cultivation is time-sensitive and delays in harvesting can result in losses to our farmers, which can discourage them. Finally, we are working with CBN to arrange single-digit funding that will support investment in the sector.
Instead of exporting sugar, you are importing sugar, and you call that master plan
monopoly
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