By Henry Umoru
THE Federal government has set 2020 as target for the realization of 70 percent self sufficiency in local production of sugar, just as it frowned at the well over N30 billion spent on the importation of the product annually for consumption in the country.

The government stressed that the present level of non performing status of Sugar industry in the country has been a major concern to it as a nation, just as the government disclose that arrangements have been concluded to review national sugar policy geared towards ensuring that local sugar companies were adequately protected to ensure that the industry becomes very relevant to the nation’s economic development plan.

Disclosing this in Abuja yesterday at the sugar stakeholder forum, Minister of State, Commerce and Industry, Ms. Josephine Tapgun who also expressed government’s readiness to stem over dependence on its importation and push for local production, said, “we believe that with the right mix of policy and regulation, prevailing high cost of sugar in the market will be reversed.”

Meanwhile, stakeholders at the meeting called on the government to encourage local production of sugar by reducing the price as well as reduce the high level of importation.

According to the Minister, Nigeria presently consumes about 1.3 million tons annually representing an average growth rate of 8 percent, just as she said that only 5_10 percent of the national consumption was produced locally with about 1.2 million tons imported as raw and refined sugar.

“Nigeria spends about N30 billion annually on the average, to finance this national requirement. This inspite of the fact that Nigeria has a high potential in terms of land, water and human resources to produce enough sugar for local consumption and for export”, she lamented.

Ms Tapgun who explained that the meeting was designed among others to draw up proposals for fiscal policy amendments for the sugar subsector towards achieving 70 percent self_sufficient in sugar production by 2020; and price of unfortified, refined sugar in Nigeria, posited that it has become imperative for Nigeria and Nigerians to harness the potentials of the sugar industry against the backdrop of the need to combat the economic challenges of high unemployment, food insufficiency, power and energy shortage in the country believed that “Sugar industry is a veritable tools to assist the nation overcome the challenges”.

The Minister who disclosed that the government was fashioning out other strategies that would help boost local sugar production at least in the short term .