*BUA Group Invests Over $300m In Lafiagi Sugar Plantation
BUA Group, owners of one of the largest sugar refineries in Nigeria, BUA Sugar, has announced the appointment of Ibrahim Yaro as the new Managing Director for BUA Sugar Refinery, Lagos.
Until his appointment, Yaro was the Director of Sales at BUA Sugar, Flour & Pasta businesses. With this appointment, he will oversee the day to day management of BUA Sugar as well as drive the next growth phase of the business. BUA Sugar is currently the only sugar producer in Nigeria with refineries in Lagos and Port Harcourt and combined production capacity of 1.44 million metric tons per annum.
A consummate professional with over 20 years experience in sales, marketing and business development spread across the financial and real sectors, Ibrahim Yaro is an alumnus of Bayero University, Kano and has attended several professional and management courses in Nigeria, United Kingdom, United States of America and the United Arab Emirates.
He is a Fellow of the Institute of Credit Administration (ICA Nigeria), member, Chartered Institute of Bankers of Nigeria (CIBN); member, Chartered Institute of Management of Nigeria (CIMN); a fellow of the National Institute of Marketing of Nigeria (NIMN) and also holds an MBA from Bayero University, Kano.
BUA Group also restated its commitment to the backward integration policy of the Nigerian Sugar Master Plan with its increased investments in the 20,000ha Lafiagi Sugar and 50,000ha Bassa Sugar plantations.
Speaking to sugar stakeholders recently, Kabiru Rabiu, Group Executive Director at BUA Group, said that BUA is making a total investment of over $300 million in Lafiagi Sugar Company to cover the plantation, sugar mill, its refinery, the ethanol and power plant as well as the complete agricultural aspects of the project.
He also added that upon full completion, the Lafiagi sugar mill with refinery will have capacity to crush about 7,000 tons of cane per day and produce over 140,000 tons of pure refined white sugar, about 25 million litres of ethanol, generate 35 megawatts of electricity as well as generate employment opportunities for over 10,000 people.