FG denies suspension of sugar production as operators worry about BIP implementation | The Guardian Nigeria News

The Executive Secretary of the National Sugar Development Council (NSDC), Zacch Adedeji, assured Nigerians not to fear the shortage of sugar for consumption, stressing that there is enough to meet the local needs of the people.

Adedeji said, “Let me clarify that there is no suspension of sugar sales or production in the country. In fact, we only consume 1.7 metric tons, which is less than 5% of what we have in stock. The stock we have is even enough to cover the period of Holy Ramadan as well as the season of Christian Lent, therefore, there is no shortage of sugar, people should not resort to panic buying.

Adedeji gave the assurance on Wednesday in Abuja, while answering questions from reporters after the official presentation of the 2022 presidential approval for raw sugar quota allocations to refineries.

He said that President Muhammadu Buhari had in fact given his approval to ensure that stakeholders submit an action plan audited quarterly, even though he has mandated sector partners such as the Central Bank of Nigeria. , the Ministry of Finance, the Ministry of Industry, Trade and Investment, the Nigerian Customs will grant zero duty to traders who participate in the Backward Integration of Sugar (BIP) scheme.

The NSDC boss reminded operators that the council will not hesitate to sanction any company that breaches the National Sugar Development Council Act, which was enacted in 2015.

Some of the operators who have joined the council’s backward integration program have expressed concern about a possible delay in its implementation.

In his remarks, BUA Foods Managing Director Ayodele Ayodeji said that one of the major issues facing operators in the sugar industry today is the lack of access to foreign exchange.

“One of our main problems is the inaccessibility of foreign currency to import raw sugar. Also, we have the challenge of importing our machinery for operations, my concern is how long will the government take? implement these presidential directives to allow us to move the sector forward more quickly? ‘

Also speaking, KIA Group representative Kenneth Iriogbe urged the government to make available to operators the necessary foreign exchange that will guarantee more production, supply and distribution of sugar for local consumption and for export.

A representative of the Ministry of Finance, Sadiq Usman called on traders to ensure that all documents required for foreign exchange approval are fully attached to all applications before submission.