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By Itohan Abara-Laserian Lagos, May 27, 2021 Dangote Sugar Refinery Plc says Nigeria can earn 700 million dollars foreign exchange annually through implementation of the Backward Integration Policy (BIP) from sugar production. Chairman, Dangote Sugar Refinery, Aliko Dangote, said this at the company’s 15th Annual
Dangote said that allowing for distortions in the sugar masterplan framework would adversely affect the target of the nation attaining self-sufficiency as projected. He said the policy would not only reduce imports of raw sugar but save the nations enormous foreign exchange used for importation. Expressing his delight with the BIP, Dangote, however, noted that if the Nigeria Sugar Master Plan was fully implemented and the players adhered strictly to the rules, Nigeria would save between $600 million and $700 million annually as foreign exchange.
“The backward integration policy of Dangote Sugar Refinery is recording appreciable progress and we will remain committed to the policy,” he said.
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