‘Privatization of Sugar Companies will Boost Investment, Self-sufficiency’

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The Executive Secretary, Nigeria Sugar Development Council (NSDC) Mr. Adelabu Adedeji has said the federal government efforts on privatization of sugar companies in the country will boost the value chain in sugar investment, self-sufficiency and enhance quality sugar production.

Speaking at the sensitization workshop for the take-off of the multi-billion Bacita Sugar Company held in Edu local government council area of Kwara state, over the weekend, Adedeji said the development would also make the country to be self-sufficient.
The workshop was attended by royal fathers, community leaders, socio-cultural groups like Igbo, Yoruba and Hausa.

The company is currently owned by the new investor, KIA Africa Group of Companies Limited.
Adedeji added that the privatization of the sugar sector would assist investors to produce over 70 per cent capacity that would go a long way of improving economic prosperity.

Represented at the event by the NSDC Director of Policy, Planning and Statistics, Mr. Hezekiah Kolawole, the Executive Secretary stressed further that, there was no doubt that the commencement of the Bacita sugar company would return the nation’s hope in the sugar refinery that would boost the economic growth of the host communities and the country in general.

Adedeji who solicited the support of the host communities and other adjoining areas of Bacita said that, “the NSDC that is supervising council would continue to work harder in order to see to the full take off of the company by giving useful advises that would develop the company into a greater height.”

He recalled the circumstances that led to the delay of the commencement of the operation of the sugar company, saying the death of the former investor affected the commencement of the operation by the company.

He noted that, “And with the new investor that has taken over the company now, all is set to bring new initiatives to the company that would transform the sugar company into economic development of the area.”
Adelabu opined further that, “with the take- off of the company now, banks and other economic activities in Bacita would pick up and the farmers would be able to produce more sugar for the company and thereby boosting greater chain values Investment in the sugar business in the area”.

Also speaking, the chairman, board of NSDC and Etsu of Tsaragi, Alhaji Aliyu Abdullahi assured the new investor of maximum support that would help the company to move forward.

Represented at the event by the Makama of Tsaragi, Alhaji Buhari Muhammed advised those still using the land of the company covered by the certificate of occupancy to leave the land so as to assist the company to utilize the land for the cultivation of sugar varieties.

He, therefore, urged the new investor to rise to the needs of the host communities so as to bring healthy relationship.

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