Dangote Sugar Refinery, a leading integrated sugar business majority owned by Nigerian billionaire Aliko Dangote, has announced a strategic plan to achieve an annual sugar production of 1.5 million metric tonnes. The initiative aims to bolster the nation’s self-sufficiency in sugar production and create significant economic opportunities for Nigeria.
Sylvain Judex, the CEO of Dangote Sugar Refinery (DSR) Numan, unveiled the company’s ambitious expansion plans while addressing journalists during a facility tour in Numan Local Government Area of Adamawa State.
Judex highlighted the remarkable progress achieved through the expansion drive, revealing that the Dangote Group acquired the company in a moribund state back in 2002, situated on 32,000 hectares in Numan. Since the acquisition, the company has experienced consistent growth, transforming into a major player in the sugar industry.
In 2022, Dangote demonstrated his unwavering commitment to enhancing the country’s sugar production self-sufficiency by investing $700 million in the Dangote Sugar Refinery. This investment underscores Dangote’s dedication to generating wealth for stakeholders while increasing the company’s revenue and earnings power.
Speaking about the company’s eco-friendly expansion drive, Sylvain Judex emphasized the strict adherence to best environmental practices, aiming to achieve zero environmental pollution. This strategic initiative is expected to create no less than 8,000 employment opportunities for Nigerians, contributing to the nation’s economic growth and development.
Dangote Sugar Refinery plans to expand its out-grower scheme to encompass 2,000 beneficiaries in the next five years, aligning with the objectives of the National Sugar Master Plan for sugar self-sufficiency in Nigeria. Sylvain Judex highlighted the benefits provided to the Out Growers Farmers, emphasizing the company’s commitment to community prosperity, peace, and business profitability.
Dangote Sugar Refinery currently boasts a refining capacity of 1.44 million metric tonnes, making it Nigeria’s largest household and commercial sugar producer. To unlock additional value for its stakeholders, Dangote Sugar has initiated a merger with Nascon Allied Industries Plc and Dangote Rice Limited, both subsidiaries of the Dangote Group.
The merger aims to establish a food conglomerate with a diverse product portfolio, including sugar, rice, salt, vegetable oil, tomato paste, seasoning, and savory products. Consolidating these businesses is expected to reshape the Nigerian foods and consumer goods industry, ushering in a new era of growth and transformation.