Sugar sector and Nigeria s unemployment crisis tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.
According to the National Bureau of Statistics (NBS), Nigeria’s unemployment figure currently stands at 33.3 per cent making her the highest on a global list of countries. Without mincing words, this is indeed a very depressing, disturbing and an alarming piece of information that should bother any discerning mind and whoever is interested in the […]
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 5.7% pop in sales volume as the company sold 200,510 tonnes of sugar in the quarter compared to 189, 724 the same period in 2020.
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 recently.
“In terms of what our target is under the Backward Integration Programme, we are committed to 250,000 metric ton per annum between our two sites in Suntai and Nasarawa. We are also in the process of concluding arrangements to acquire another piece of land,” He stated.
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 National Sugar Development Council to FMN’s sugar refinery in Apapa, Lagos, on Wednesday.
According to the Deputy General Manager, Golden Sugar Company, Mr John Maniatis, the refinery has a production capacity of 750,000 tonne per annum.