The Executive Secretary National Sugar Development Council, Dr. L.D Busari hosted the President SERGE Capital L.T.D Mr. Greg Todd and his team to his office, Sugar House in Abuja on the 11th of July, 2018. The Company is an investment driven international firm that explores and embark on investments activities in the area of agro-allied business worldwide. The headquarters of the Company is in Heidelberg, Australia and branches in Lockhart, Cavan, Palm Beach (Australia), China and Nigeria. The Company’s main source of working Capital is in China and the Company also partners with properties investment firms in China. Mr. Greg stated that the company wish to utilize opportunity of big market in Africa more particularly Nigeria and has thus discussed with the Australian minister of agriculture on the planned decision of the Company to invest in 10,000 TCD Sugar plant expandable to 20,000 TCD in Nigeria. The Company is also to utilize technology in Australia as well as explore the possibility of integrating the proposed capacity with Australian sugar industry model. He called on the Council to provide enabling investment climate for the Company to invest in Nigeria.
Responding, the Executive Secretary NSDC stated that Council does not go into direct sugar production, but is playing regulatory and promotional roles in local sugar production. The sugar refineries in Nigeria currently has the capacity to produce 3.0 Million Tonnes but the Country consumes only 1.5 Million Tonnes. The Federal Government encourages sugarcane to sugar investment and not refineries. Council can source for land through state governments or through Communities who directly provide the land for any interested sugar investor and commended the company for having interest in sugar sub-sector of Nigerian economy.
