Chairman, Dangote Sugar Refinery Plc, Aliko Dangote has said that the National Sugar Master Plan (NSMP), when executed as designed, can save the nation foreign exchange in excess of $700million yearly from the backward integration component.
Dangote, according to a statement by the company, made the disclosure during a facility tour by some businessmen on Monday in Lagos.
He, however, warned that the scheme must be protected to insulate the Nigerian economy to be able to achieve the twin objectives of local manufacturing and job creation.
“If the national sugar master plan is followed strictly and the players all follow the rules, the country will be better for it as Nigeria will save between $600 million and $700 million annually as foreign exchange,” he said.
Dangote also told the visitors that the Dangote Group was scaling up its social intervention in communities hosting its companies across the country.
He said efforts were being made to impact…
Source: Vanguard Newspaper