The Nigerian Sovereign Debt Management Office and Lee Group have signed a joint venture agreement to develop a large-scale sugar project in Niger State, the agencies said.

The agreement was signed in Abuja, where officials from the Nigerian Sovereign Debt Management Office (NSDC) and executives from Lee Group reaffirmed their commitment to expanding Nigeria’s sugar production capacity.

The partnership aligns with the national Sugar Master Plan, a government-backed initiative to strengthen domestic agro-processing and reduce dependence on imported sugar.

The sugar project will be located in Niger State, according to the joint statement issued by NSDC and Lee Group. The development will involve large-scale production and processing facilities designed to increase local sugar output.

Officials said the initiative is part of efforts to strengthen the agriculture value chain and promote industrial growth. They noted that Nigeria currently imports significant quantities of sugar and that the project intends to boost self-sufficiency.

The agreement signed by the NSDC and Lee Group underscores the collaboration between public and private sectors for agricultural industrialisation.

The NSDC said its role involves coordinating funding mechanisms and supporting infrastructure development, while Lee Group will lead commercial operations and technology deployment for the sugar facilities.

Officials from both parties attended the signing event, emphasizing the project’s scale and potential impact on local production.

They said it marks a significant step in implementing the Sugar Master Plan, which aims to establish viable domestic sugar industries across suitable agro-ecological zones in Nigeria.