100,000 tonne capacity sugar plant inaugurated by Nigeria’s president
The President of Nigeria, Muhammadu Buhari, inaugurated a 100,000 tonne capacity sugar plant in Sunti, Niger State, on 15 March.
The plant, owned by Flour Mills Nigeria Plc., cost N50bn (US$138.5mn) to build and spans across 17,000 hectares of land, of which 10,000 hectares are used for sugarcane.
“One of the cardinal objectives of this administration is to look inwards as we focus on our natural endowments in agriculture and other non-oil sector for inclusive growth and development,” stated President Buhari.
“The level of work and magnitude of investment we are witnessing here today is a clear indication that our policies on economic diversification are on the right path and attracting the right kind of attention.”
“This is the time to convert the area into a commerce and industry hub and I urge other business owners to follow the example of the Flour Mills and invest in the area.”
Inside Biocom's $1bn, 80,000-hectare Angolan sugarcane enterprise
Shell and GT Bank to loan $270mn to Nigeria’s Amni International
Read the latest issue of Business Chief, Africa edition, here
The plant is set to develop the nation’s economy, with sugar saving Nigeria on revenue through foreign exchange.
Nigeria’s Minister of Industry, Trade, and Investment, Dr Okechukwu, the Governor of Niger State, Sanni Bello, the Governor of Kebbi State, Atiku Bagudu, the Governor of the Central Bank of Nigeria, Godwin Emefiele, the Etsu Nupe, Alhaji Yahaya Abubakar, and the former Minister of Information, Professor Jerry Gana, all attended the inauguration.
“Sunti Golden Sugar Estates is for our company, more than a dream come true; it is the realisation of a strategic investment designed to produce made-in-Nigeria sugar,” stated John Coumantaros, the Chairman of Flour Mills Nigeria.
“It is in line with our mantra, which is feeding people every day. In Flour Mills Plc, we believe that reliance on imported raw materials for factory processes should be behind us.”
- Air Peace agrees $2.1bn delivery of 10 jets from EmbraerLeadership & Strategy
- OneFi set to purchase Nigeria’s AmplifyLeadership & Strategy
- NNPC announces plans to upgrade refiners to reduce expense on fuel importsLeadership & Strategy
- NNPC set to extend gas supply line into AlgeriaLeadership & Strategy