x

FEC Approves Extension of Second Phase of National Sugar Master Plan to 2033

As key players jointly creates 15,000 jobs, control 200,000 hectares of sugarcane plantation

By Marcus Ikechukwu

The Federal Executive Council meeting presided over by President Muhammadu Buhari on Wednesday, approved the second phase of the National Sugar Master Plan, extending it by an additional 10 years.

Minister of Industry, Trade and Investment, Niyi Adebayo disclosed the information, while interacting with the media, where he noted that the first phase which was inugurated in 2012 expires by 2023, next year.

While stating that investments in national sugar policy was aimed at stimulating self sufficiency in the commodity, Adebayo said no fewer than 15,000 jobs have been created through key players in the industry.

The Minister listed Dangote, BUA, Golden Sugar mills among key stakeholders jointly owning about 200,000 hectares of sugarcane plantation in the country.

His words, “Today, my ministry brought a memo seeking Council’s approval for the second phase of the National Sugar Master Plan. In 2012, the first phase of the sugar master plan was approved lasting from 2012 to 2022.

“Today, Council approved the extension from 2023 to 2033. That’s for another 10 years. And the whole idea of the Sugar Master Plan is for the development of the sugar industry, in their self sufficiency in sugar production.

“The plan has several policy measures or fiscal incentives to stimulate demand and attract private sector investment in the sugar industry. And part of the benefits of the sugar master plan is the local production of sugar.

“We have under phase one, four major investors, investing in the industry. These are Dangote Sugar, BUA Sugar, Golden Sugar Company which is flour mill, Care Africa Group which bought the Baccita sugar mill.

“They have jointly created 15,000 jobs, and they have over almost about 200,000 hectares of land that has been acquired for the production of sugarcane to enable them produce sugar locally. So Council approved phase two of the National Sugar Master Plan”.

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalistAs...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

A’Ibom Lawmaker, Edidem, lauds Tinubu over Akpabio’s SSDC appointment

By Ogenyi OgenyiDeputy Speaker of the Akwa Ibom Assembly,...

Dr. Uduak Silas Obot Laid to Rest in His Country Home

Amgbare Ekaunkumo, YenagoaThe remains of Dr. Uduak Silas Obot,...

Bayelsa Governor Lauds Security Agencies for Synergy

Amgbare Ekaunkumo, YenagoaBayelsa State Governor, Senator Douye Diri has...

Bayelsa Cult Attack Claims Two Lives

Amgbare Ekaunkumo, YenagoaTwo Niger Delta University graduates were brutally...

B’Haram: Zulum approves 35 patrol vehicles, motorcycles for Borno community

By Achadu Gabriel, KadunaBorno State Governor, Babagana Umara Zulum,...

Adulterated soya beans oil producing factory discover in Kaduna

By Achadu Gabriel, kadunaApparently owing to severity of hardship...

Judge Faces Compulsory Retirement for Misconduct in Kogi

By Noah Ocheni, LokojaAn area court Judge, Alemeru Adekunle...
spot_img

Related Articles

Popular Categories

spot_imgspot_img