Nigeria: Dangote Sugar to Cut Imports By 40%, Forex Pressure

31 August 2022
Daily Trust (Abuja)
By Abiodun Alade

Dangote Sugar Refinery Plc has resolved to significantly reduce the importation of sugar into the country by 40 per cent, thus paving the way for the employment of over 30,000 youths and help the country save scarce foreign exchange.

President of Dangote Group, Aliko Dangote explained recently in a chat with newsmen that it was embarking on Phase II of its Sugar project, which will then cover over 100,000ha to make the sugar plant, the largest in Africa.

Dangote said that the integrated sugar complex to be located in Tunga, Awe Local Government Area of Nasarawa State, comprises 60,000ha sugar plantation and two sugar factories with the capacity to produce 430,000 tonnes of refined white sugar per annum.

Whilst Sugar is currently on the list of commodities on the foreign exchange restriction list of the Central Bank of Nigeria (CBN), the country imported $1.82 billion beet sugar, sugar syrups, and other sugar confectionery in the last two years.

Also, statistics from Trade Data Monitor (TDM) based on the Brazilian Foreign Trade explained that Brazil's cumulative raw sugar exports to Nigeria in 2020/21 season was 1.62 million tonnes, while domestic cane sugar production has slumped from 75,000 tonnes to 70,000 tonnes, about 6.7 percent decline within one year.

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