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BUA’s Violation of Sugar BIP Worries Stakeholders

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Abdulsamad Rabiu

 

 

As the federal government continues to monitor the level of compliance of all companies engaged in the implementation of the backward integration programme (BIP) in the sugar industry, seeming subtle efforts of BUA Group to violate the tenets of the agreement is causing serious concerns in the sugar industry.

 

An independent, detailed investigation carried out by THISDAY on the three companies that signed the agreement with the National Sugar Development Council (NSDC) to fully implement the BIP in the year 2020 and end the nation’s dependence on importation to meet its need for sugar, found BUA lagging behind vastly in investment in and implementation of the BIP.

 

According to the THISDAY investigation published in the March 7 edition of the newspaper, from page 46 to 49, while Dangote Group’s Savannah Sugar Company in Numan Adamawa State has essentially met the deadline by already producing pure refined sugar straight from sugarcane harvested from its own farms and Flour Mill’s Golden Sugar Company in Sunti, Niger State is on target to begin production this year, BUA’s Lafiagi sugar estate has neither set up a farm nor put a processing factory in place.

 

The THISDAY special report noted that Dangote Group, at the moment, has above 6,000 hectares of mature sugarcane which is currently undergoing harvesting and processing, and the estate is running three 24-hour shifts daily. But BUA only has 13 hectares of sugarcane nursery which it plans to transplant in the future.

 

THISDAY investigation also revealed that while Dangote’s Savannah Sugar currently employs around 750 full-time employees, 5000 contract staff who work in the farms and other parts of the factory; and Flour Mills’ Sunti has 750 employees, BUA’s Lafiagi Sugar estate  only has 25 workers indicating that very little is going on there.

 

There are even unconfirmed speculations that of all the equipment and staff displayed at the Lafiagi sugar estate, none is owned by the company as they simply hired and displayed the few assets to deceive the NSDC and other stakeholder and give BUA access to the federal government benefits enjoyed genuine investors in integrated sugar production.

 

In the area of the installation of a sugarcane processing factory, while Dangote has a functional plant in place, already churning out refine sugar and generating 6.4 MW of electricity and Flour Mills is set to inaugurate its plant by May, 2016, BUA has none, except a manual 50 tonnes per day sugarcane crushing plant which is currently non-operational.

 

Another revelation of the THISDAY investigative report is that while Dangote Group stated that it has  invested around N35 billion in integrated sugar production and Flour Mills noted that it has invested above N18 billion there was no figure for BUA Group, indicating that probably no significant investment has been made.

 

Apparently confirming BUA’s failure to measure up with the objective of ending sugar importation into the country by 2020, the Executive Secretary of the Sugar industry regulatory agency, NSDC, Dr. Latif Busari, noted: For BUA Group, development of Lafiagi Sugar Estate, the BIP site of BUA Sugar Refinery, while not at same pace as the others, is expected to accelerate in 2016. The company is ramping up its seed multiplication nursery pending the outcome of its site feasibility study which is being handled by a reputable UK company called Booker Tate.”

 

According to the report, the General Manager for BUA Sugar Company, Lafiagi, Mr. Samuel Yisaku and the Group Head, BUA Agribusiness, Mr. Mario de Matos, however put up a spirited explanation of their failure to keep pace with other operators, stressing that the company was running its own BIP programme exactly as agreed with the NSDC and so was not lagging behind any other company.

 

According to quotes from the THISDAY report however, the BUA executives  inadvertently admitted that their company might certainly not meet the Nigeria Sugar Master Plan’s aim of ending sugar importation by 2020.

 

In the report, the company’s executives;Yisaku, Matos and the spokesman Otega Ogra Yisaku, stressed that BUA was working to attain reasonable integrated cane processing in the next three to four years and swing to full capacity production around 2024, which violates the overall objective of the 2020 NSDC deadline.

 

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NIHOTOUR Calls on Hospitality, Tourism, Travel, Allied Sector Professionals for Mandated Registration

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NIHOTOUR Calls on Hospitality, Tourism, Travel, Allied Sector Professionals for Mandated Registration

NIHOTOUR Calls on Hospitality, Tourism, Travel, Allied Sector Professionals for Mandated Registration

 

The National Institute for Hospitality and Tourism (NIHOTOUR), the regulatory and standardization authority in the sector, has invited professionals in the hospitality, tourism,travel and allied sectors to register as mandated by the National Institute for Hospitality and Tourism (Establishment) Act 2022.

A statement signed by Aare (Dr.) Abisoye Fagade, FIMC, Director-General/CEO
The National Institute for Hospitality and Tourism reads:

“Enjoy FREE registration from December 1, 2024, to January 15, 2025! This is your chance to register as a professional or practitioner at no cost.

“Don’t miss this opportunity to solidify your presence in Nigeria’s thriving tourism industry. Visit www.nihotour.gov.ng now!

“Hurry—free registration closes on January 15, 2025. Take the first step toward advancing your career in tourism today!”

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EGC Homes Unveils Goodness and Mercy Estate, Brand Ambassador

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EGC Homes Unveils Goodness and Mercy Estate, Brand Ambassador

 

EGC Homes, a notable player in the real estate and property development sector, has made waves in the Nigerian market with its recent announcement of the launch of Goodness and Mercy Estate in Ogun, alongside other strategic initiatives.

The company emphasized its commitment to collaborating with the government to alleviate the housing deficit in Nigeria while prioritizing the well-being of residents.

In an interview with THECONSCIENCE NG, Oladapo Jimoh, the Managing Director of EGC Homes and Properties, expressed the brand’s long-term vision to bridge the housing gap and simplify the journey to homeownership.

He stated, “Current data estimates Nigeria’s housing deficit to be around 28 million units by 2024. This figure is among the largest globally and poses significant challenges, contributing to homelessness and various social issues.”

“National statistics indicate that our country faces a pressing need for approximately 700,000 new homes each year to address this deficit. As urbanization continues, these challenges are particularly evident in major cities, where affordable housing becomes increasingly scarce, forcing many into slums and informal settlements.”

The World Bank projects that Nigeria’s urban population could exceed 200 million by 2050, highlighting a potential social crisis as the lack of affordable housing leads to the rise of slums, especially in urban areas.

“As a forward-thinking and solutions-oriented company, we are dedicated to addressing these critical housing issues in partnership with the government.”

Following its successful launch in Lagos, EGC Homes has rapidly expanded its operations, acquiring a significant land bank across the southwestern region of Nigeria and enhancing its marketing strategies to effectively connect with customers.

The firm is committed to providing Nigerians with exceptional value, peace of mind, and simplifying the processes of land acquisition and homeownership.

“Our mission is to make life easier for Nigerians while assisting the government in tackling the housing deficit.”

Recently, the company introduced its premier property, the Goodness and Mercy Estate, located in Arepo and Sagamu Interchange in Ogun State, with more projects on the horizon. Its flexible payment plans and affordable property prices aim to cater to a wide audience.

Additionally, EGC Homes has appointed Titilayo Adebayo-Omotosho as its social media brand ambassador to promote the unique offerings of EGC Homes and Properties Limited to Nigerians both at home and abroad.

In her remarks, she highlighted her commitment to the vision of EGC Homes, stating, “I believe every Nigerian deserves a decent roof over their head. This aligns perfectly with the mission of EGC Homes and Properties, which is why I chose to represent the brand, promoting its exceptional estates and home packages to Nigerians and those aspiring to own homes here.”

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Optiva Capital Partners and Loft & Keys LCC Forge Strategic Partnership to Drive $500m Investments in Nigeria

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L-R Dr. Jane Kimemia, CEO, Optiva Capital Partners and Chief Austin Ugochukwu Albert, Chairman, Loft & Keys LLC during the partnership agreement signing between Optiva Capital partners and Loft & keys LLC at Optiva's headquarters in Lagos

Optiva Capital Partners and Loft & Keys LCC Forge Strategic Partnership to Drive $500m Investments in Nigeria

 

Optiva Capital Partners, Africa’s leading wealth management and retention company, has announced a groundbreaking partnership with Loft & Keys LLC, a renowned real estate and investment company with dominant presence in Nigeria and the Middle East.

 

The ceremony which took place over the weekend at Optiva Capital’s Corporate Headquarters, aims to boost investment in Nigeria’s hospitality and healthcare sectors on the one hand, as well as provide Nigerian investors with opportunities to invest in real estate in the UAE, particularly in Dubai.
Speaking at the signing ceremony, Dr. Jane Kimemia, CEO, Optiva Capital Partners, emphasized the transformative potential of this partnership, “With Loft & Keys’ deep understanding of the Nigerian market and established networks in the Middle East, we are poised to bring $500 million in investments into Nigeria’s hospitality and healthcare industries. These funds will be strategically spread across Lagos, Abuja (FCT), Delta, and Enugu.”

 

The investment in hospitality will serve as a catalyst for economic growth in Nigeria. Beyond creating employment opportunities, it will spur infrastructure development, enhance regional tourism appeal, and foster business ecosystems in Lagos, the Federal Capital Territory, Enugu, and Delta. Similarly, the healthcare focus will address critical gaps in medical infrastructure, improve access to quality care, and promote health innovation—key pillars for national development.

 

The partnership According to Dr Kimemia also extends to Nigerian investors seeking opportunities in the UAE. With Loft & Keys’ expertise and extensive networks in Dubai and other Middle Eastern hubs, the collaboration will unlock access to one of the world’s most dynamic real estate markets.
Speaking about the partnership, Chief Austin Ugochukwu Albert, Chairman, Loft & Keys LLC, said “Optiva Capital Partners stands as Africa’s leading wealth retention company, a position that is firmly established and without question. This partnership with Loft & Keys will further solidify their dominance and create even greater opportunities for growth. As Dr. Jane Kimemia has rightly emphasized, Loft & Keys, with our extensive expertise in the Middle East, is a trusted and experienced partner”. We have a strong presence in the UAE and are actively expanding into Saudi Arabia and Qatar in the near future. Together with Optiva Capital Partners, we are committed to capturing significant market opportunities in these regions. I am confident that this partnership will foster substantial growth that will be mutually rewarding for both parties.

 

Dubai, a city widely known for its opulence and rapid development, is reportedly operating at only 30% of its projected capacity, presenting a significant growth opportunity for investors. According to industry experts, this untapped potential creates a unique window for investors to capitalize on the city’s future expansion and development.
The partnership aligns with the United Nations Sustainable Development Goal 17 as two formidable brands, Optiva Capital Partners and Loft & Keys are committed to leveraging their collective strengths to drive impactful investments that benefit clients and communities alike.

 

L-R Dr. Jane Kimemia, CEO, Optiva Capital Partners and Chief Austin Ugochukwu Albert, Chairman, Loft & Keys LLC during the partnership agreement signing between Optiva Capital partners and Loft & keys LLC at Optiva's headquarters in Lagos
About Optiva Capital Partners
Optiva Capital Partners is a premier wealth management and retention firm offering bespoke solutions in four areas of specialization – investment immigration, investment advisory, insurance, and international real estate.
About Loft & Keys LLC
Loft & Keys is an internationally recognized real estate and investment company with a robust presence in Nigeria and the UAE. The firm is dedicated to connecting investors with high-value opportunities in dynamic markets.

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