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Business News of Tuesday, 30 August 2022

Source: www.punchng.com

Dangote to cut sugar import by 40%

File image: Sugar File image: Sugar

The management of Dangote Sugar Refinery Plc has said it is set to reduce the importation of sugar into the country by 40 percent.

The President, Dangote Group, Aliko Dangote, said in a statement that it was embarking on Phase II of its sugar project, which would cover over 100,000ha to make the sugar plant the largest in Africa, paving the way for employment of over 30,000 youths.

Dangote said the integrated sugar complex would be located in Tunga, in the Awe Local Government Area of Nasarawa State, and comprises a 60,000ha sugar plantation and two sugar factories with the capacity to produce 430,000 tonnes of refined white sugar per annum.

It stated that “According to the Trade Data Monitor, Brazil’s cumulative raw sugar exports to Nigeria in 2020/21 season was 1.62 million tonnes, while domestic cane sugar production has slumped from 75,000 tonnes to 70,000 tonnes, about 6.7 percent decline within one year.”