The Executive Secretary/CEO of the National Sugar Development Council (NSDC), Kamar Bakrin, has said the Backward Integration Plan (BIP) under the first phase of the National Sugar Masterplan (NSMP) attracted $1 billion worth of investments.
He said major investors also created over 15,000 permanent and seasonal jobs, and established cane processing factories with a total capacity of 18,000TCD in five active project sites among others.
Bakrin disclosed this at a retreat organised for the House of Representatives Committee on Industry in Calabar, Cross River, over the weekend.
He however, told the committee that actualisation of the comprehensive plan for accelerated sugar project development in 2025 and the NSMP II, could be hampered except certain loopholes in the council’s establishment Act were amended.
He said the NSMP II has a protected domestic market made attractive by a robust incentive framework including a protective tariff regime that is consistent with the various protocols to which Nigeria is a signatory.
