Over $450 million. That is the amount the Dangote Group is set to invest in the Niger State, to build a sugar refinery.

According to the Managing Director of Dangote Sugar Refinery (DSR) Company, Alhaji Abdullahi Sule, who disclosed the news, sites for the sugar cane plantation and refinery have been identified. "For the sugar, we have identified the site and carried out feasibility study. We have equally carried the survey of the site, did the soil and demarcated the land to enable us plant different crops”, he said.

The executive added that memorandum of understanding (MoU) for the project, between the group and the state government, is being “perfected”.

It should be recalled that last week, Aliko Dangote (photo), president and founder of the eponymous company, announced that $338 million would be invested in DSR, over the next four to six years. According to him, the group aims to produce 1.5 million tonnes of refined sugar from locally grown sugar by 2023-2024.