Sugar council, BOI unveil N10bn facility to boost greenfield sugar investments
By Lucy Ogalue
The National Sugar Development Council (NSDC), and the Bank of Industry (BOI) have unveiled a N10 billion Sugar Project Acceleration Fund (SPAF) to support greenfield sugar projects.The NSDC Executive Secretary, Mr Kamar Bakrin, on Sunday said the fund was aimed at providing financing and project development support to viable promoters.According to Bakrin, this will help to accelerate the emergence of a sustainable and competitive sugar industry in Nigeria.The SPAF was designed to help transform early-stage sugar project ideas into bankable investments capable of attracting financing from development finance institutions and impact investors.The executive secretary said access to capital alone does not automatically translate into sugar production.Bakrin said that develo...



















