IN another bold move for self-sufficiency in sugar production through government’s backward integration policy, Dangote Group, yesterday in Minna, Niger State, signed a Memorandum of Understanding (MoU) with the state government for the establishment of a jumbo $450 million state-of-art and fully integrated sugar complex.
On completion, according to the President of the group, Aliko Dangote, the project will generate over 15,000 jobs in the state and bring about a complete economic turn-around for the state.
The $450 million pact signed at the government house will see the company producing raw sugarcane on 16,000 hectares of land at Lavun Local Government Area through an out-grower scheme.
The company, which is currently operating out-grower scheme in rice production in a number of states, has Africa’s largest sugar refinery in Lagos and a sugar cane plantation in Numan, Adamawa State.
Dangote said his investment was informed by his company’s firm belief in the potential of the Nigerian economy, adding that the new outlay will add value and create jobs for Nigerians.
He commended the state Governor, Abubakar Bello, for his foresight and efforts to woo investors to Niger State, noting that “the Dangote’s integrated sugar project in Niger State will also include the establishment of integrated sugar mills, generate power, produce molasses, ethanol fuel, biomass and produce animal feeds.”
In his remarks, the state governor, Bello, said the deal will revolutionise agriculture in his state and Nigeria. Expressing joy that the MoU was signed during his own administration, Bello described Dangote as the liberator of the Nigerian economy and a dependable partner.
The governor then urged Dangote Group to explore other investment opportunities available in the state, just as he announced that the state was open for multi-sectoral investments.