The National Sugar Development Council (NSDC) has approved the disbursement of N3.9bn from the National Sugar Development Fund for local sugarcane farming in Nigeria
Concise News understands that the move is geared towards the implementation of the Nigeria Sugar Master Plan (NSMP).
In 2012, the Federal Executive Council approved the NSMP for implementation and adoption as government strategy roadmap for the development of the sugar sub-sector.
While speaking on the development, the Executive Secretary of the Nigeria Sugar Development Council, Latif Busari, noted that the body grew the National Sugar Development Fund to N12bn since 2013.
According to Busari, N8.8bn was domiciled with the Bank of Industry with N3.2bn at the Bank of Agriculture.