Dangote Group,Niger sign $450m MOU on sugar Production

DANGOTE Group, yesterday, in Minna, signed a Memorandum of Understanding (MoU) with Niger State Government for the establishment of a fully integrated sugar complex, worth $450 million (about N166 billion), in the state, a boost to government’s backward integration policy towards attaining self-sufficiency in sugar production.

President of the Group, Aliko Dangote, said on completion, the project will generate over 15,000 jobs in the State and boost its economic fortune. He said it will see the company producing raw sugarcane on 16,000 hectares of land at Lavun Local Government through an out-grower scheme.

The company, which is currently operating out-grower scheme in rice production in a number of states, has Africa’s largest sugar refinery in Lagos and a sugar cane plantation in Numan, Adamawa State. Okechukwu Enelama, the Minister of Industry, Trade and Investment, who was represented by Alhaji Aminu Bisala, noted that Dangote is the biggest private sector supporter of the Nigerian economy and Federal Government policies.

You might also Like:  Tax compliance gets easier for companies, but new data highlights post–filing challenges across the world

He said government was comfortable with the numerous investment efforts of the Dangote conglomerate. Also speaking, Group Managing Director of Dangote Sugar Plc, Engr. Abdullahi Sule, said the MoU would transform the economy of Niger State and that of Nigeria as a whole. He said the integrated sugar mills will have the capacity to produce 160,000MT of raw sugar, adding that Dangote Sugar Refinery is developing a sugar backward integration plan through the production of 1.5MT per annum over ten years in Nasarawa, Adamawa, Kogi, Kwara, Taraba and Niger states.

You may also Like

Loading...

Samuel Edward

Editor at Africa Update