Omo, dis one na correct gist for sugar business matter! E get as e be, National Sugar Development Council (NSDC) and Nigerian Export-Import Bank don finally shake hands for partnership wey go change the sugar game for Naija. Na Abuja dem meet together dey yan about how to pump money for large-scale sugar projects wey go help transform dis sugar sector.
As dem talk am, dis collaboration go use Engineering, Procurement, Construction plus Financing (EPC+F) model. NSDC go dey work on viable sugar projects while NEXIM Bank go dey handle capital mobilization and also help dem reach international export credit agencies. Executive Secretary of NSDC, Mr. Kamar Bakrin, don talk say without proper long-term funding, Nigeria no fit achieve sugar self-sufficiency. Na true matter be dat o!
Bakrin yan say Nigeria market get potential of about US billion for domestic sugar and the whole African market dey reach US billion! He talk say dis partnership go open door for serious investors to come dey do work instead of just dey speculate without action. E also mention say dem expect to create over 50,000 jobs for people wey go dey farm, process, and handle logistics. Na real jobs wey go ensure import wey dey happen reduce by 25% in five to ten years time.
Na im make dem dey encourage smallholder farmers to join the commercial value chains. Dis go help boost rural income wey don suffer for long! Plus, e go help produce value-added renewable products like ethanol and bioelectricity. E get as e be! Dem don set plan to dey use environmentally friendly production methods and dey consider community participation for the projects.
NEXIM Bank Managing Director, Mr. Abba Bello, don praise dis initiative and e don talk about how sugar industry get strong strategic importance for Naija economy, especially for export and value-chain expansion! Dem dey look for structured partnerships wey go unlock long-term financing to make sure local value chains dey strong. Na so dem go fit boost Nigeria competitiveness for both regional and international markets.
Na so the partnership dey build on wetin NSDC don already start with SINOMACH, wey be Chinese company. Dem don arrange finance wey reach US$1 billion at SOFR plus three percent, with 15-year tenor plus three years moratorium to fast-track industrial-scale sugar projects. Na correct investment plan be dis, my people!
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