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FG disburses credit facility to out-growers association in sugar sector

The Federal Government in collaboration with the National Sugar Development Council has flag off the disbursement of credits  facility to members of 40 out-growers association in sugar sector.

The input loans were facilitated by National Sugar Development Council, Federal Ministry of Commerce and Industry, Bank PHB, the Central Bank and National Agricultural Insurance Corporation of Nigeria (NAIC).

The Ministe of Commerce and Industry, Senator Jubril Martins-Kuye, who disclosed this dring the 3rd meeting of the National Council on Commerce and Industry held in Kano State, said that the scheme has already taken off in Savannah Sugar Company, Numan and was expected to spread to other s sugar companies in due course.

According to him, food and beverages manufacturing companies are continuously encouraged to increase local content in their finished products.

“We have put in place a policy that would stimulate a significant increase in the transformation of our agriculture produce for consumption and as raw materials for industries”
Senator Martins-Kuye said that in promoting local sugar production, the Ministry has provided new guidelines for companies granted approval to import unfortified raw sugar for industrial use, adding that the guidelines cover the packaging and labeling of their products. The objective here is to ensure at least 70% local contents in national sugar consumption by 2015. He stressed.

He expressed the hope that in line with global practice, the trade and industrial policy thrust of the country is under review to encourage the growth and development of the non-oil sector of the economy by projecting the interest of domestic producers against the influx of subsidized, dumped products.


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