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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...

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 committ...

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 t...

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 ten-year period.   During a tour of LASUCO Its aim is to raise local production of sugar to enable th...

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