Business, News

Dangote, Nasarawa Sign MoU On Sugar Refinery

Nigeria’s dream of becoming self-sufficient in sugar production is coming to fruition, with the signing of a Memorandum of Understanding (MoU), between Dangote Sugar Group, and the Nasarawa State Government.

The project is expected to gulp $700m. The signing ceremony of the deed of acquisition, lease and development agreement, took place at the National Sugar Development Council, Sugar House, Abuja, yesterday.

READ  United States, United Kingdom Speak On Upcoming Nigerian Elections

President/CE, Dangote Group, Alhaji Aliko Dangote, said the integrated sugar complex to be located in Tunga, Awe Local Government Area of Nasarawa State, comprises 60,000ha of sugar plantation and two sugar factories, with capacity to produce 430,000tpa of refined white sugar, representing about 30 per cent of the country’s consumption and would be the largest plant in Nigeria.

The sugar project would also provide 30,000 jobs for the teaming youths in Nasarawa State.

READ  Guinness Reports First Total Beverage Alcohol Results

Dangote said Phase II of the project, when extended to cover 100,000ha, will make the sugar plant, the largest in Africa.

Dangote Group has already committed N250million for community development of Tunga in line with its corporate social responsibility initiative to improve the people’s well-being.

He said the project is to further align Dangote Group with the present government’s policy of diversifying the economy.

Leave a Reply