Nigeria’s Current Domestic Sugar Demand Is 2M Metric Tonnes – NSDC

By Faridat Salifu

The Executive Secretary of the National Sugar Development Council (NSCD), Mr. Kamar Bakrin, has called for more investment in the country’s sugar industry as domestic demand for the commodity rises to two million metric tonnes yearly.

Speaking to journalists in Lagos recently, Bakrin said Nigeria’s sugar business is projected to be worth $2 billion, representing a significant opportunity for both domestic and foreign investment.

He noted that the African export market for sugar, valued at approximately $7bn, also offers a lucrative avenue for Nigerian enterprises.

He attributed the viability of the sector to recent shifts in Nigeria’s economic policied, including currency exchange adjustments, that have heightened the competitiveness of local production and made imports less attractive.

“The financial fundamentals of the industry are robust,” he said, referencing the industry’s high Net Present Value (NPV) and Internal Rate of Return (IRR), which make investment in the sector financially sound.

With accessible land in secure areas and a growing network of global expertise available to support projects, the NSDC boss emphasized that the industry’s investment infrastructure is primed for expansion.

In line with the government’s Backward Integration Plan (BIP), Mr. Bakrin also pointed out new directives requiring sugar project operators to earmark portions of their investments for community development initiatives spanning infrastructure, healthcare, and education while allocating managerial job quotas to locals.

He said the council is contemplating the the diversification of the industry by tapping into high-value byproducts such as ethanol, bioplastics, and packaging materials.

The NSDC, Bakrin disclosed, has declared 2025 as a pivotal year for accelerating domestic production, aiming to attract new investors, stimulate expansion among current players, and increase the number of commercial sugarcane growers.

As part of its strategy, he said the council is raising targeted financing and enhancing its infrastructure for industry-specific training, seed cane multiplication, and extension services.