Sugar: Nigeria risks losing African market over high production costs

By Babajide Komolafe

Nigeria risks conceding the African market to other countries unless it urgently tackles high power, credit and logistics costs undermining the competitiveness of local manufacturers.

Executive Secretary, National Sugar Development Council, NSDC, Mr Kamar Bakrin, stated this at the technical session of the 17th National Council on Industry, Trade and Investment, NCITI, in Enugu.

Warning about the competitive pressure from the African Continental Free Trade Area, AfCFTA, Bakrin said: “Either our goods are crossing borders going out, or everyone else’s goods are crossing ours coming in.

“We are either going to compete, or we are going to concede the market. There is no third option.”