In a panel discussion at the 32nd Nigerian Economic Summit (NES #32), Mr. Kamar Bakrin, the Executive Secretary of the National Sugar Development Council (NSDC), asserted that the bold macroeconomic reforms implemented by President Bola Ahmed Tinubu have set the stage for Nigeria to achieve self-sufficiency in sugar production. Speaking at the event, Bakrin explained that Tinubu’s reforms have made local sugar production more attractive, opening up a pathway for the nation to become self-sufficient.
According to Bakrin, who spoke to Tribune Online, the reforms have made it possible for the sugar industry to thrive, with investors now more willing to invest in local sugar production.
The statement comes as the Tinubu administration continues to push for self-sufficiency in key sectors, including agriculture, as part of its economic reform agenda. The push for self-sufficiency is aimed at reducing Nigeria’s reliance on imports and boosting the domestic economy.
It is worth noting that the Tinubu administration has faced criticism over its economic policies, with some analysts arguing that the reforms could exacerbate income inequality. However, Bakrin’s comments suggest that the reforms are having a positive impact on the sugar industry, at least.
Sources:
– Tribune Online (tribuneonlineng.com)
– Businessday NG (news.google.com)
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