Business
Nigeria’s Sugar Importation Yields $200m
Nigeria’s sugar importation accounts for more than 200 million dollars annually, according to a senior official of the Federal Ministry of Environment.
Bahijjahtu Abubakar, National Coordinator, Renewable Energy Programme in the Ministry, said in Abuja yesterday that Nigeria was the largest consumer of sugar in Africa, with overall consumption rate of 1.5 million tonnes per annum.
She said that local production of sugar was less than 10 per cent of its demand, noting that as a result of the deficit, the local sugar industries depended on raw sugar imports.
Abubakar said Nigeria’s sugar sector could play an important role as a driving force in the development of the nation’s economy.
“Given the universality of sugar consumption, its economic impact will be felt widely in other production sectors, contributing toward achieving accelerated development,” she added.
The-coordinator stressed that the rise in the rate of sugar consumption should be compensated by more production, “which should be translated to positive GDP for Nigeria”.