Backward integration in sugar industry at crossroads


***Master Plan may miss 2022 target

Backward integration in sugar industry at a cross-roads

By Emeka Anaeto

Nigeria’s major backward integration policy, the National Sugar Master Plan, NSMP, appears to have run into controversy over level of compliance by beneficiary companies.

This is coming as a change of guard occurs in the executive leadership of the Nigerian Sugar Development Council, NSDC, the NSMP custodian and regulator.

Industry analysts are expecting a major re-jig in the NSMP policy implementation framework to bring it up to date with the terms of reference.

Vanguard Business Magazine learnt that NSMP may have run into a major cross-roads recently following alleged breaking of ranks amongst frontline private sector operators. It is, however, seen in some quarters as part of the larger competition matrix in Nigeria’s commodity market.

Speaking to Vanguard Business Magazine on the challenges of the sub-sector, a former deputy director, economic research, at the Central Bank of Nigeria, CBN, Dr Emmanuel Ogoh, said that…

Source: Vanguard Newspaper