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Home Breaking News

BUA Foods Plc Hosts Ministry of State for Industry and Nigerian Sugar Development Council on Progress Tour of LASUCO Sugar Company

Financeblog9ja — Leading Finance Conversations by Financeblog9ja — Leading Finance Conversations
11 months ago
in Breaking News, Companies
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BUA Foods Plc Hosts Ministry of State for Industry and Nigerian Sugar Development Council on Progress Tour of LASUCO Sugar Company
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BUA Foods Plc hosted the Honourable Minister of State for Industry, Dr. John Owan Enoh, alongside a delegation from the Nigerian Sugar Development Council, led by its Executive Secretary, Kamar Bakrin, on an inspection tour of Lafiagi Sugar Company Limited (LASUCO) in Lafiagi, Kwara State. 

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The visit was undertaken to assess the level of progress recorded on the sugar production facility, which is currently about 80% completed, and to reaffirm the Federal Government’s commitment to support the backward integration program in line with the President’s renewed hope agenda and Nigeria’s drive towards sugar self-sufficiency. The scale of investment in the project, also reflects the unwavering commitment of the Chairman of BUA Foods Plc, Alhaji Abdul Samad Rabiu’s commitment to industrialization and transformational outcomes, that impact economic growth. 

The inspection tour provided the Minister and representatives of the Nigerian Sugar Development Council with a firsthand view of the significant progress being made at LASUCO, which is being developed as a fully integrated sugar production facility that will produce 10,000 tons of cane per day, 220,000 metric tons of refined sugar per annum, 35megawatts of electricity and process 20 million liters of industrial ethanol per annum.

The visit formed part of the Federal Government’s broader efforts to monitor project execution, encourage timely delivery, and ensure alignment with national policies aimed at increasing local sugar production, reducing import dependence, and driving sustainable industrial growth. 

During the tour, the delegation was taken through LASUCO’s integrated operations, including sugarcane plantations, refinery and milling facilities, ethanol plant, irrigation systems, power plant, housing estate, airstrip, as well as healthcare and education facilities, all situated on approximately 20,000 hectares of land. 

Commenting on the progress of LASUCO after the tour, the Honourable Minister of State for Industry, Dr. John Owan Enoh, said, “it is amazing to see the kinds of things I have seen on ground in terms of the necessary infrastructure, such as the road, the landing point of about 3 kilometers and the provision for workers and community. Having said that, there is also the necessary infrastructure for the takeoff of LASUCO. So yes, progress has been made, and progress has to continue to be made. My understanding is that LASUCO is the largest green field factory by any of the majors; 10,000 tons of cane per day capacity at completion, so this factory has to be completed. Part of my takeaway from this visit is that there is commitment on the part of the management of LASUCO and we need to work together to a completion date”.

Prior to the facility inspection, the Honourable Minister, Dr. John Owan Enoh, the Group Executive Director of BUA Group, Alhaji Kabiru Rabiu, Managing Director, BUA Foods Plc, Engr. Ayodele Abioye and the accompanying delegation paid a courtesy visit to the Emir of Lafiagi, His Royal Highness Alhaji Mohammed Kudu Kawu, at his palace. 

During the visit, the Group Executive Director of BUA Group, Alhaji Kabiru Rabiu, announced that LASUCO will be the largest integrated sugar plant in Nigeria. In his remarks, he said, “What we are building here in Lafiagi will be the largest sugar mill, sugar plantation and sugar refinery in this country with a 10,000 tons of cane processing capacity per day. We will be generating 35megawatts of electricity from bagasse, and process 20 million liters of industrial ethanol per annum. Yes, we have had some delays, but now, we have really gotten things on serious momentum, and we will continue with the plantation”. He concluded by expressing appreciation to the Emir and the Honourable Minister for their commitment and willingness to support BUA Foods and the Nigerian economy in general. 

The Emir expressed satisfaction with the commitment demonstrated by BUA Foods Plc on the LASUCO project and reiterated that Lafiagi, as a community, will continue to support the organisation, stating that “we are interested in the sugar masterplan to be operational, because we know what it can do for us”. The Executive Secretary of the Nigerian Sugar Development Council, Kamar Bakrin, also reaffirmed the Council’s commitment to working closely with BUA Foods Plc to ensure timely project delivery and long-term sector development, stating that “nobody has invested in a sugar factory as much as BUA Foods”.

At the conclusion of the tour, BUA Foods Plc reiterated that construction activities at LASUCO will continue at an accelerated pace to ensure the successful completion of the Lafiagi Sugar Company, reinforcing the company’s long-term commitment to Nigeria’s sugar industry, agricultural development, and economic transformation. 

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Financeblog9ja — Leading Finance Conversations

Financeblog9ja is Leading Finance Conversations. We offer relevant, unbiased and practical content that fosters financial literacy. Our dedicated team of seasoned Finance Experts, Tech-savvy Nerds and Media Professionals are committed to advancing financial literacy, scaling impact and providing policy intelligence for reforms, economic and youth empowerment. For inquiry, please contact info@financeblog9ja.com OR +2349063408563.

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