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x The government announced the ban in a directive from the Ministry of Industry, Trade and Investment to the Nigerian Ports Authority (NPA), Lagos Port Complex, Apapa, Lagos. NPA in a letter signed by Buba Jubril for the Port Manager, Lagos Port Complex said, the ban is to protect the sugar industry, which is governed by the Nigerian Sugar Master Plan (NSMP). “It has recently come to our notice that due to the recent location of a Sugar Refinery in a Free Trade Zone, Refined Sugar is being imported into the Nigerian Customs Territory under the concession granted to enterprises in the Free Trade Zones to export 100% of their output to the Nigerian Customs Territory, and this is real potential threat to the goals of the Nigerian Sugar Master Plan (NSMP),” NPA said. ....
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Nigeria will no longer provide foreign currency for importers of sugar and wheat, the central bank said on Twitter on Friday, as the country tries to conserve national dollar reserves. Africa’s most populous country, and its biggest economy, relies on imports to feed its 200 million people. The central bank restricted access in 2015 to foreign exchange for 41 items it says can be produced locally, and has added to the list since then. “Sugar and wheat to go into our FX restriction list. We must work together to produce these items in Nigeria rather than import them,” the central bank said in a tweet. ....
Group Executive Director of BUA Group and pioneer Chairman of the Nigerian Sugar Institute, Kabiru Rabiu, has advised the Federal Government to replicate the NSDC in the rice sub sector and other food industry sectors with growth potential. ....
Punch Newspapers Sections Joseph Olaoluwa Group Executive Director of BUA Group, Kabiru Rabiu, has asked the Federal Government to replicate the the success of the sugar industry in the rice sub-sector as well as other food industry sectors with growth potential. He said this during the inauguration of the Nigeria Industrial Policy and Competitiveness Advisory Council (Industrial Council) in Ilorin, Kwara State. In a statement emailed by the firm to our correspondent on Sunday, Rabiu hailed the NSDC’s supervisory and coordination role in the sugar industry adding that it should be replicated in other sectors. Currently, the NSDC coordinates the activities of the Nigerian Sugar sector through monitoring of the backward integration and import substitution programme that has seen significant investments in various Cane-to-Sugar projects by private operators in the industry. ....