By Itohan Abara-Laserian Lagos, May 27, 2021 Dangote Sugar Refinery Plc says Nigeria can earn 700 million dollars foreign exchange annually through implementation of the Backward Integration Policy (BIP) from sugar production. Chairman, Dangote Sugar Refinery, Aliko Dangote, said this at the company’s 15th Annual
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Dangote Sugar Refinery Plc, one of the leading producers of refined sugar to consumers and industries in Nigeria has successfully wind up its sugar business in Niger State – under the Dangote Niger Sugar Limited.
According to a note by the company, this decision was made in an effort to cut down on deadweight cost, coming from a stretched situation from its host community which had started accumulating negative returns for the integrated sugar business.
The company noted that after a careful assessment of recent disruptions to its operation as projected in the state, due to community dispute over the land acquired in Niger, the Board of DSR in December 2020 completed all winding-up proceedings for the Backward Integration Project Company in Niger State.