Dangote To Save Forex, Through 40% Sugar Import Substitution.

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Management of Dangote Sugar Refinery Plc has resolved to significantly reduce the importation of sugar into the country by 40%. Thus, paving the way for the employment of over 30,000 youths.

President of Dangote Group, Aliko Dangote explained that it was embarking on Phase II of its Sugar project. Which will then cover over 100,000ha to make the sugar plant, the largest in Africa. 

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

Meanwhile, the Nigerian Ports Authority (NPA)’s shipping data revealed that Auarius Honor and Ocean Crown would be at Greenview Development Nigeria Limited (GDNL), a subsidiary of Dangote Group to offload 45,850 tonnes and 46,750 tonnes respectively. Following high demand in the food and drinks sector, GDNL took delivery of 187,000 tonnes from four vessels in May this year.

At the terminal, Common Galaxy came with 48,800 tonnes; Bonny Island, 47,200 tonnes; Chayanee Naree, 46,000 tonnes, and Karteria Bluesrar, 45,000 tonnes. Also, in April, the terminal took delivery of 91,600 tonnes when Unity Bluestar offloaded 47,200 tonnes and Ecoatlantic, 44,400 tonnes.

Parrotnews.

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