Page 5 - Backward Integration Programme News Today

One of Nigeria’s largest Sugar manufacturers, Dangote Sugar revealed it increased prices in the first quarter of 2021 to mitigate the problems of rising inflation and depreciation. In a note to investors, the company revealed its recent 41.5% surge in revenues was due to an increase in sales volume as well as an uptick in price. In the first quarter of 2021, Dangote Sugar posted a revenue of N67.39 billion compared to N47.6 billion, the same period in 2020. The increase in price was driven by...

By Mon Apr 26 2021 Flour Mills of Nigeria PLC says it has invested N65 billion in its new Sugar Mill being developed on a 3000 hectares of land in Suntai, Niger State. It has also spent $200 million upgrading the sugar refinery in Apapa, Lagos. The Deputy Chief Operation Officer, Agro Allied Division at FMN, Sadiq Usman, made the statement when he received the Executive Secretary of the National Sugar Development Commission (NSDC), Mr Zach Adedeji during a tour of Golden Sugar Company in Lagos ...

Golden Sugar to expand production capacity by 250,000 tonnes The Punch Published 5:22 am Flour Mills of Nigeria Plc has said its subsidiary, Golden Sugar Company Limited, is working to increase its sugar production capacity by 250,000 tonnes per annum. The Deputy Chief Operating Officer, Agro-allied Division, FMN, Mr Sadiq Usman, said the company remained committed to the Backward Integration Programme of the Federal Government. He spoke during the visit of the members of Nation...

Sugar refining equipment under construction at LASUCO Obinna Chima who this week visited the Lafiagi Sugar Company, a subsidiary of the BUA Group, highlights efforts the company is taking to support the federal government’s National Sugar Master Plan, boost job creation and support economic diversification Nigeria’s National Sugar Master Plan (NSMP) was designed to attract over $1 billion annually in local and foreign direct investments and create an estimated 107,000 jobs over the first te...

BUA Group says the refinery will create 5,000 jobs for direct staff and indirectly create over 10,000 jobs for ancillary staff.

Project lawful, will checkmate arbitrary price hike, create jobs, says Rabiu The Chairman, Dangote Industries Limited, Alhaji Aliko Dangote, alongside Chairman, Flour Mills of Nigeria Plc, Mr. John Coumantaros, have said the establishment of a new sugar refinery plant in the country poses a threat to the attainment of the National Sugar Master Plan (NSMP) as well as sustainability of the country’s local sugar industry. They argued that the country currently had enough refining capacity to mee...

Views: 125 Dangote Sugar Refinery PLC (DSR) has reacted to what it described as an online publication claiming that the company is engaging in price-fixing and is not honestly engaged in any Backward Integration Programme,as claimed. In a statement on Thursday, Dangote Sugar vehemently refuted the allegations and assertions in their entirety.The statement further said the false allegations are geared at tarnishing the good name and brand of Dangote Sugar Refinery Plc and Dangote Industries Lim...

•Dangote Sugar denies involvement in price fixing James Emejo in Abuja Africa’s richest man and Chairman of Dangote Industries Limited, Alhaji Aliko Dangote, and the Chairman of Flour Mills of Nigeria Plc, Mr. John Coumantaros, have said the establishment of a new sugar refinery plant in the country by BUA Group posed a threat to the attainment of the National Sugar Master Plan (NSMP) as well as sustainability of Nigeria’s local sugar industry. They argued that the country currently has e...

Crediting institutional reforms at the Sugar Council Dr. Latif Demola Busari   Whatever that has a beginning, surely and naturally too, has an end. In same manner and fashion, every story, journey, odyssey, reign, expedition or human activity has an end, but conversely, every ending is equally a new beginning.  Essentially, our sojourn here on earth is marked by a beginning and an end. For Dr. Latif Demola Busari, whose four year’s tenure and final term as the Executive Secretary of the Nat...

The Chairman and Founder of the BUA Group, Alhaji Abdulsamad Rabiu in this interview spoke about a wide range of issues which included opportunities in the African Continental Free Trade Area agreement as well as the need to liberalise the cement industry so as to boost production and subsequently crash the price of the commodity. Obinna Chima and Goddy Egene provide the excerpts: The BUA Group recently sealed a deal for a refinery project, can you take us through the expectations from that pro...