How CBN Funded Sunti Golden Sugar Factory With N25bn
President Muhammad Buhari has once again pledged his administration’s commitment to the growth and diversification of the nation’s economy.
He said this while commissioning the 10,000 hectares Sunti Golden Sugar Factory in Mokwa, Niger State.
President Buhari while commending the instance of the factory months after Nigeria emerged from recession said more jobs would be created in Niger State.
Part of the fifty billion naira already invested in the factory is the twenty-five billion naira loan from the Central Bank of Nigeria which the Governor of the apex bank, Godwin Emefiele said the factory is expected to pay back within a ten year period.
The Sunti golden sugar factory currently produces one hundred thousand tonnes of sugar annually, employs about three thousand indigenous farmers and intends to create ten thousand more jobs when it starts operating at full capacity.
The Sugar Factory which produces 100,000 tonnes of sugar annually stands on 17,000 hectares of land with 10,000 hectares dedicated to the sugar-cane farm.
The Sunti golden sugar factory currently employs about 3000 indigenous farmers and intends to create 10,000 more jobs when it starts operating at full capacity.