Dangote signs $450million sugar production MoU with Niger State, Nigeria
In another bold move for self-sufficiency in sugar production through the government’s backward integration policy, the Pan African Conglomerate, Dangote Group today in Minna, Niger State signed a Memorandum of Understanding (MoU) with the State Government for the establishment of a jumbo $450million state-of–art and fully integrated sugar complex. The $450million pact which was signed in the government house will see the company producing raw sugarcane on 16,000 hectares of land at Lavun Local Government through an out-grower scheme.
On completion, according to the President of the Group Aliko Dangote, the project will generate over 15,000 jobs in the state and bring about a complete economic turn-around for the state. The company, which is currently operating out-grower scheme in rice production in a number of states, has Africa’s largest sugar refinery in Lagos and a sugar cane plantation in Numan, Adamawa State.
Mr. Dangote said his investment was informed by his Company’s firm belief in the potentials of the Nigerian economy, adding that the new outlay will add value and create jobs for Nigerians. He commended the state Governor, Alh. Abubakar Sani Bello for his foresight and efforts to woo investors to Niger State noting “the Dangote’s Integrated Sugar Project in Niger State will also include the establishment of integrated sugar mills, generate power, produce molasses, ethanol fuel, biomass and produce animal feeds.”
In his remarks, Governor Bello said the deal will revolutionize agriculture in his state and Nigeria. Expressing joy that the MoU was signed during his own administration, he described Dangote as the liberator of the Nigerian economy and a dependable partner.
It would be recalled that the Group’s foray into sugar business began in 1981. It has injected over $104million into the Savannah Sugar Company Limited it acquired from government in 2003. Savannah Sugar this year alone, produced 20,000MT of raw sugar from its plantation.
Distributed by APO on behalf of Dangote Group