The National Sugar Development Council (NSDC) has announced a strategic plan to achieve sugar self-sufficiency in Nigeria, requiring $7.1 billion in investment over the next decade. The initiative aims to push annual domestic production capacity beyond 2 million metric tonnes, exceeding the current consumption level of 1.8 million tonnes.

The funding strategy relies on $5 billion in long-term development capital and debt, with the remaining $2.1 billion provided by project promoters. The NSDC has already signed a $1 billion agreement with the Chinese firm Sinomach for infrastructure and equipment. The program involves 13 projects, including three existing operators and 10 new sugar estates, which are expected to create 110,000 jobs and save the country approximately $2.1 billion in annual foreign exchange expenditure. Additionally, a N10 billion Sugar Project Acceleration Fund has been established with the Bank of Industry to support these greenfield developments.