BUA Renews Pact With FG, Commits To Developing Sugar Estates In Kwara & Kogi

Bua Group has renewed pact with the Federal Government for the Nigerian Sugar Industry which seeks to boost local sugar production in Nigeria.

BUA Group signed the pact with the FG till 2023 and has committed to developing two sugar estates in Kwara and Kogi states as part of its contribution to strengthening the local sugar industry.

Already, BUA’s 300million dollars investment in its subsidiary, Lafiagi Sugar Company (LASUCO), is one of the largest private led investments in that region of the country.

According to information available, when it fully comes on stream, BUA Group’s $300million investment in the 20,000 hectares Lafiagi Sugar Estate which covers a sugar plantation, sugar mill, refinery and ethanol plant is expected to produce about 1.5 million metric tonnes of raw sugar annually, 25million litres of ethanol, generate 35megawatt of electricity.

It is also primed to create employment opportunities for over 15,000 people directly and indirectly.