NSDC 2025 strategy seeks $5bn investment, legal reforms to boost Nigeria’s sugar industry

National Sugar Development Council (NSDC) is pushing for a $5 billion investment and significant legal reforms to revolutionise Nigeria’s sugar industry by 2025. This was disclosed by NSDC’s Executive Secretary/CEO, Mr. Kamar Bakrin, during a retreat with the House of Representatives Committee on Industry in Calabar, Cross River State. Bakrin said there was an urgent need for acceleration in the sugar sector, stating, “2025 is the year of acceleration. This is not a choice but a must, given our macroeconomic realities and the tremendous benefits we know are possible from the cultivation and processing of sugarcane.” The NSDC’s 2025 strategy focuses on four key priorities: accelerating project development, facilitating $5 billion in sector investment, preparing priority greenfield projects for investment, and enhancing NSDC’s capacity to develop the sector.

However, Bakrin stressed that achieving these goals requires amending the NSDC Act to address policy conflicts and strengthen market protection provisions. “This is a key requirement that emerges in all our conversations with our current and potential investors and financiers,” he noted. Hon. Dolapo Enitan Badru, Chairman of the House Committee on Industry, expressed support for the plan, emphasising the need to codify the Nigeria Sugar Master Plan (NSMP) into law to boost investor confidence and close existing loopholes. The new strategy builds on the successes of NSMP I, which has already attracted $1 billion in investments and created over 15,000 jobs. NSMP II aims to achieve self-sufficiency in sugar production, develop a globally competitive sector, and ensure sustainable industry growth. Bakrin highlighted the potential of the Nigerian sugar market, citing an unmet local demand of 2 million metric tons and a projected African deficit of 13 million metric tons by 2030. He also pointed to opportunities in sugarcane derivatives such as biofuels, polymers, and sustainable aviation fuels.