Dangote Sugar Refinery Plc, one of the main makers of refined sugar to buyers and ventures in Nigeria, has effectively wrapped up its sugar business in Niger State – under the Dangote Niger Sugar Limited.

 

As per a note by the organization, this choice was put forth trying to reduce down on extra weight expense, coming from an extended circumstance from its host local area, which had begun aggregating negative returns for the coordinated sugar business.

Visit TradeNaira for more Nigeria Business News.

The organization noticed that after a cautious evaluation of ongoing disturbances to its activity as projected in the state, because of local area disagreement about the land gained in Niger, the Board of DSR in December 2020 finished all wrapping up procedures for the Backward Integration Project Company in Niger State.

 

Peruse: Dangote's total assets decreases by $1.2 billion in February.

 

Key realities about the Project

 

The Dangote Niger Sugar Limited was made through an MOU between the Niger State Government and Dangote Sugar Refinery Plc to build a cooperative sugar project.

 

The 12,000 tcd factory situated on a 16,000ha land close to Mambe, Lavun LGA of Niger State, had an expected set-up cost of $450million.

 

Peruse: Dangote Sugar Refinery in Tunga to create 450,000 MT

 

The Sugar project was set up as a vital piece of the organization's Backward Integration Project (BIP), with a 10-year sugar advancement intend to create 1.5 million MTPA of sugar from privately developed sugarcane, under the Nigeria Sugar Master Plan (NSMP), an arrangement executed to make Nigeria independent in sugar creation.

Sigma Pensions

 

The BIP Company in Niger State was the fourth sugar project by Dangote Sugar, after the Savannah Sugar Company – Numan Adamawa State, Lau/Tau Sugar – Taraba State, and Tunga Sugar Project in Nasarawa State.

 

What you should know

 

Dangote Sugar Refinery Plc is one of Nigeria's driving coordinated sugar organizations and a significant purifier of unrefined sugar with a vital spotlight on creating braced and non-sustained granulated white sugar.

 

The organization has a complete introduced limit of 1.44 million metric tons (MT) per annum with key extension designs set up.

 

Its operational exercises to the side of sugar creation incorporate refined white sugar to shoppers and modern clients in the country and export its items to other West African nations.

 

In 2020, Dangote Sugar conveyed an excellent monetary execution, with the organization's income taking off by 33.0% to N29.8 billion for the monetary year of 2020.

30 mins ago, Nigeria’s hospitality sectors face investment shortages as a spate of abandoned projects increase

 

One hour ago, Leverage capital market to finance revenue-generating projects, stockbrokers tell FG.

 

Two hours ago, Petrol price hit N212.61 per liter – PPPRA

 

Click here to get trending Nigeria Business News.