Dangote Says Sugar Master Plan Can Save $700m Yearly

The Chairman of the Dangote Sugar Refinery Plc, Aliko Dangote, has stated that the National Sugar Master Plan would could Nigeria between $600m and $700m yearly if executed as designed.

A statement from the company revealed that Dangote said the backward integration component of the plan could earn the amount in foreign exchange at his office in Lagos.

He advised that the BIP scheme must be protected to help the Nigerian economy achieve the local manufacturing and job creation objectives.

He was quoted to have said, “If the national sugar master plan is followed strictly and the players all follow the rules, the country will be better for it.”

He said efforts were being made to impact positively on the host communities, saying his companies had expended billions of naira in states where their investments were located.

The statement quoted a statement from the Minister of Industry, Trade and Investment, Otunba Niyi Adebayo, during a tour of Dangote’s Savanna Sugar Company Limited in Adamawa as saying, “What we’ve seen so far from all the plantations we’ve been to are very impressive. We are impressed with the level of work they are doing.”

General Manager for the BIP, Dangote Sugar, John Beverley, said when the factory was fully operational, it would have the capacity to crush 12,000 tonnes of cane per day, while 90 megawatts of power would be generated for both the company’s use and host communities.