President Muhammadu Buhari inaugurated a 73 million dollars intervention fund for irrigation, to boost the Sugar backward integration programme aimed at making Nigeria a leading sugar producing country in Africa.
News Agency of Nigeria reports that to actualize this dream, an agreement between the federal government and the operators of the Sugar backward integration programme was also signed on December 21 at the Presidential Villa, Abuja.
Speaking at the event, the Minister of Industry, Trade and Investment, Niyi Adebayo, who represented Buhari, said the Central Bank of Nigeria is also involved in the provision of required funding for the project as well.
According to Adebayo, the aim of the programme is to increase Nigeria’s sugar yield, in line with its quest of becoming self-sufficient in Sugar production.
Also speaking at the event, the Executive Secretary, National Sugar Development Council, Zacch Adedeji, said the intervention is part of government’s determination to provide an enabling environment for private investments to thrive and flourish in the country.