Inefficient crushing capacity has foiled government’s plans to reduce $874 million import bill on 1.7 million tonnes of sugar import despite the country’s total installed capacity, which has risen to three million metric tonnes.
Findings revealed that despite the high foreign exchange of naira to dollar, some operators under the Backward Integration Programme (BIP) have not been contributing to the realisation of the Nigeria Sugar Master Plan (NSMP), making sugar production remain at 70,000 tonnes as at last year, as they prefer to import 95 per cent of sugar needed for domestic and industrial purposes.
Read more at Newtelegraphng
Findings revealed that despite the high foreign exchange of naira to dollar, some operators under the Backward Integration Programme (BIP) have not been contributing to the realisation of the Nigeria Sugar Master Plan (NSMP), making sugar production remain at 70,000 tonnes as at last year, as they prefer to import 95 per cent of sugar needed for domestic and industrial purposes.
Read more at Newtelegraphng