The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has declared that the apex bank is ready to partner the Lee Group and Jigawa State Government to ensure the establishment of a multi-billion naira white refined sugar cane factory that will generate N60 billion annually to the state.

Emefiele who spoke during the foundation laying ceremony of the 12,000 hectres of land in Garin Chiroma in Gagarawa Local Government Area of the state on Sunday, also regretted that Nigeria spends over $100 million annually for the importation of sugar which can be grown in the country.

According to him, “Nigeria today spends over $100 million importing sugar in the country whereas we can grow sugar Nigeria.”

He commended the Lee Group for investing in sugar production in Nigeria, saying, “by this initiative, you have helped in joining the Federal Government of Nigeria towards ensuring that we achieve our goal of diversifying away our economy from oil into a very important sector which is called agriculture.

“You (Lee Group) have touched the heart of Nigerians, you have touched the heart of the president, you have touched the heart of the federal government because through the clarion call of the president, you have answered that call and I can assure you that you will receive the needed support from the government.

“On our part as the CBN, I appeal to you to come over to us, whatever support you need to get this project on ground, so that in the next couple of months, we can come back and launch the programme, that support I assure you today, you will get from the CBN.”

Emefiele said sugar production is part of CBN’s core aspect of the anchor-borrower programme, while commending the Lee Group and Jigawa State government to have keyed into large-scale sugar production.
He added that CBN has concluded plans to support small farmers who are into sugar cane farming, “we will support not only Lee Group; we will also support other little farmers that are involved in sugar-cane planting so that as the farmers plant your sugar-cane, the Lee Group can also buy them off the farmers.

“Through that means, we have provided jobs for our people; and we have increased the wealth of our people. That is the anchor programme of the federal government and I want to thank all of you for being here today.”

The CBN governor who hailed Governor Muhammad Badaru Abubakar for investing in agriculture, said: “Jigawa State is doing its best; even using its own little resources to support the efforts of the federal government in the anchor-borrower programme for rice.

“Only a couple of months ago, we were here in Jigawa State to see the harvesting of rice, today we have seen a foundation laying ceremony for a 12,000 hectres of land for growing sugar-cane. I congratulate you, Badaru and I can only assure you that whatever support you need from CBN, you will get from us.”

Speaking at the occasion, Badaru described the factory as an industrial complex which is designed to generate an all-year round employment, with over 15,000 workforce, just as 12 settlements have already been relocated and compensated.

The Minister of Agriculture, Chief Audu Ogbeh, noted that the cultivation of sugar, rice, wheat and milk form part of the 2017 budget in the agriculture sector as crops to be used in generating foreign exchange.

Ogbeh added: “We cannot survive from continuous importation of these products. Our youths are suffering from unemployment, but the jobs are in the farms and not in the ministries. Our plan is to create millionaire farmers in the country.”

http://investorsking.com/nigeria-spends-over-100m-annually-to-import-sugar-says-emefiele/

What of Dangote sugar refinery?

There is a mystery in this country. With the Dangote Sugar Company 'doing so well that it exceeds it's profit margin'?

And by the way, what do we use the sugar for when tea had disappeared in the menu of most Nigerian families?

God bless men of goodwill.
With sustained efforts we shall achieve the desired goals of job creation in value chain of agribusiness.

Weed is the only thing Nigeria don't Import..

RIP Nigeria

We import virtually everything,
Pencils
Matches
Pants/boxers
Lets do and Import a new president.. Our current one is doing work from home

I don't see imported sugar where I buy sugar o!
Is St lious or Dangote imported?
This man should say rich people are buying imported sugar

9ja don cast

dat stupid dude up dere go soon talk weda na only tea Dem dey use shuga dey make oo...unless ur pipo dunno d purpose of shuga in ur house...
pipo soaking garri on a daily go dey consume 80% of dose shuga while bakers go consume 10% den d rest users like dat my tea maker will consume d rest...so dere u av it...
anyways shuga or no shuga,she's still ma shuga..

What is Nigeria?

Naija sef dey import sugar

I don't know why Nigeria can't produce all these things.....
I watched the making of sugar on YouTube and this sugar is made from sugar cane.
Does it mean that we can't cultivate sugar canes and get all the machineries accessible for processing?

.

does that mean we can't produce sugar here? na wa oh

The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has declared that the apex bank is ready to partner the Lee Group and Jigawa State Government to ensure the establishment of a multi-billion naira white refined sugar cane factory that will generate N60 billion annually to the state.


This is good news but Chinese people no dey pay ooooo. Always looking for cheap Labour!

Sey na him my people go take chop, pay rent, Bills (multiple taxes for that matter)

No to cheap labour in this current economy ooooooo

psucc:
There is a mystery in this country. With the Dangote Sugar Company 'doing so well that it exceeds it's profit margin'?

And by the way, what do we use the sugar for when tea had disappeared in the menu of most Nigerian families?

Sugar is not even meant for the tea you use it for. The usefulness of sugar is in the industry not in the tea consumption.
sugar is involved in the fermentation process to make products containing alcohol (such as wine);

sugar slows the setting of cement and glues;

sugar is used to help make certain types of detergents;

sugar is used in the textile industry for sizing and finishing fabrics;

sugar is used to make certain pharmaceuticals;
And so on.

Category1:
Cv

Curriculum vitae abi?

Kwantunu.

God bless Buhari

Story 4 d gods...

buh na dangote sugar I dey c for market.
mbok, wch sugar cus ayam nt understanding

That's y we are hyperactive

Wow.... even sugar we dey import....

psucc:
There is a mystery in this country. With the Dangote Sugar Company 'doing so well that it exceeds it's profit margin'?

And by the way, what do we use the sugar for when tea had disappeared in the menu of most Nigerian families?

.nor mind dos peopl, they wil jus say dos tins so they can steal and steal.

Kai! Another hot lie this early morning...

dangote, nko

psucc:
There is a mystery in this country. With the Dangote Sugar Company 'doing so well that it exceeds it's profit margin'?

And by the way, what do we use the sugar for when tea had disappeared in the menu of most Nigerian families?

Gari fa?

but baba vegetables say him go fix am....... Kai buhari wer u dey ,D

govt will help frustrate your dreams to start the production in Nigeria.....dey claim to want entrepreneurs but live a harmful business environment to thrive....#zoogeria

Category1:
I don't know why Nigeria can't produce all these things.....
I watched the making of sugar on YouTube and this sugar is made from sugar cane.
Does it mean that we can't cultivate sugar canes and get all the machineries accessible for processing?

Our soils are only meant for burying stolen funds...

Kai! This lie is a mood tweaker abi na mood changer sef

Welcome development. The way forward for Nigeria is developing local industries - big, cottage industries and even small ones. We can not continue to rely on importation because economically, it is counter-productive.

That's a good development

siraj1402:
Sugar is not even meant for the tea you use it for. The usefulness of sugar is in the industry not in the tea consumption.

But that's what Nigerians have been made to believe that sugar is only meant for tea... But Bro check it out - what does Naija even produce sef when we import virtually everything overseas...

Category1:
I don't know why Nigeria can't produce all these things.....
I watched the making of sugar on YouTube and this sugar is made from sugar cane.
Does it mean that we can't cultivate sugar canes and get all the machineries accessible for processing?

ayindejimmy:
I don't see imported sugar where I buy sugar o!

Is St lious or Dangote imported?

This man should say rich people are buying imported sugar

You would be shocked to know that all the sugar you consume in Nigeria are actually imported. Companies like Dangote and Flour Mills actually import the raw sugarcane extract and the only thing they do in Nigeria is process it, package it and then sell as Nigerian sugar. Huge shame!

But all that is changing now, dollar crisis and cbn's policy of releasing forex to only 'serious' businesses is now resetting the brain of these companies. Dangote and floir mills have recently set up massive sugarcane plantations in Nigeria to get their own extract locally.