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July 17, 2007
Investments in sugar hit N120.3bn —Council
The National Sugar Development Council said yesterday in Abuja that N120.3 billion was invested in the country’s sugar sector between 1999 and 2007.
In a statement made available to the News Agency of Nigeria (NAN) yesterday in Abuja, the council said the amount consisted of 790 million dollars (about N99.5 billion) foreign investments and N20.8 billion local investments.
The council put the total value of loans and grants given to mini sugar plants in the sector at N300.4 million.
It said N235.1 million was for input support while N65.3 million was for the development of infrastructure.
“For the first time since 2002, local sugar production started again in the country. In the 2006/2007 season, more than 40,000 tonnes of sugar was produced.
It said several new
Posted by Publisher at July 17, 2007 04:45 PM
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