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EXPOSED: How BUA Shortchanges FG Billions In Sugar Imports

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BUA’s performance in the BIP already rated as poor and unacceptable by the National Sugar Development Council after the initial 4 years of BIP implementation continues to dip by the day, but its import quota on the other hand is rising, as the company appears more focused on importing raw sugar for its refinery which has been expanded recently.

In 2020 BUA got a 360,000mt presidential quota allocation, out of which it utilized 313,700mt and has now applied for 600,000mt import quota for 2021, without a complementary investment in backward integration, which is a pre-condition for enjoying increased import quota under the concessionary tariff.

At the end of the First Phase of the NSMP (2013-2016), BUA reportedly raked in N66.5billion profit from accrued tariff concessions and ploughed back only N9.3billion out of that into the BIP, a far cry from other investors who channelled a minimum of 50% back into the BIP.

Despite a 2017 radical review of the entire BIP strategy as well as the entire reward and sanction regime of the National Sugar Master Plan, which has placed emphasis on cultivation, jobs creation and local manufacture as a pre-requisite for quota allocation, BUA is yet to produce sugar locally like other stakeholders in the industry.

Cumulative Satellite monitoring data obtained from an anonymous source in the NSDC shows gross discrepancies between the self-reported performance figures (amount of land cultivated for sugar cane) by BUA’s Lafiagi Sugar Mill with what is actually on the ground verified by the satellite imagery.

BUA claims to have developed 6,500ha of land by May 2020 with 2,220 ha cultivated with sugar cane, however satellite images show that since 2016 only 473ha were developed and cultivated, despite enjoying billions in concessionary rights Nigerians are yet to see or have a taste of BUA sugar. A sugar factory without sugar cane represents a smoking gun for the Federal Government to investigate.

  • Sugar Council suspension Letter

A 2015 dated letter from the NSDC shows that BUA was slammed a suspension from enjoying the privileges of tariff concessions for failing to follow the examples of productive backward integration programs under the Nigeria Sugar Master Plan. Where other stakeholders were in re-investing profits from the tariff concessions into local sugar factories, BUA sugar rather was investing in the building of a new import-driven refinery in Port-Harcourt in flagrant disregard of the suspension of further sugar refinery development in the country.

What the country clearly needed at that time according to NSDC was an investment in sugarcane to sugar production to move the country out of its dependence on sugar imports, save foreign exchange and create jobs for Nigerians.

In another letter BUA was also denied an additional quota for raw sugar imports to service the new Port-Harcourt refinery by the NSDC, citing the need to protect the policy that was put in place to halt import dependency while stimulating investments, such as would harness the nation’s natural endowments for production of sugar from sugarcane.

The council also chided BUA for failing to demonstrate the level of commitment expected of him to justify the incentive being enjoyed from the federal government.

How the suspension after 2015 was lifted is still shrouded in mystery, as there has been no demonstrable commitment from BUA to drive the BIP, aside from projections and future dates of production, while it currently continues to enjoy tariff concessions on imports and has requested a quota increase from 313,700mt in 2020 to 600,000mt in 2021.

  • Sugar Council Statement On BUA Port Harcourt Sugar Refinery

Given the gravity of infractions from BUA and seemingly no penalty from regulators, would-be investors would be right to assume that there is no level playing ground in the BIP initiative.

The policy still has room to accommodate more private sector players that can ultimately turn the table from importation of raw sugar to local production, to self-sufficiency and net exporter of sugar if the government can show that it is carrying out its regulatory oversight function without fear or favour.

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I committed to diversifying the economy and expanding revenue sources, not to punish Nigerians, Says Tinubu

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President Bola Tinubu said on Thursday that recent government policies are not meant to punish Nigerians but are necessary interventions to prevent the economy from collapsing.

Tinubu made this known at the 55th Annual Conference of the Nigerian Institute of Estate Surveyors and Valuers (NIESV) in Abuja.

The president was represented by the Minister of Housing and Urban Development, Ahmed Dangiwa.

Dangiwa was, in turn, represented by Dr Edna Tobi, Special Assistant for International Cooperation and Partnership in the Ministry.

The conference’s theme was, “Transform, Invest, Drive: Optimising Real Estate Finance and Taxation.”

It brought together stakeholders to deliberate on the intersection of real estate and fiscal policy.

The president said that the administration was committed to diversifying the economy and expanding revenue sources.

This, he said, informed the government’s drive to implement policies that enhanced income from taxation while upholding fairness and transparency.

“Our decision to reform Nigeria’s tax system and fiscal policy was deliberate and strategic,” he said.

“It was a courageous and bold move aimed at addressing the suffocating economic challenges facing the nation.”

Tinubu stated that reforms were tailored to create a more investment-friendly environment, particularly in the real estate sector, and to boost job creation and economic growth.

He acknowledged the critical role of estate surveyors and valuers in achieving these objectives and expressed the government’s willingness to partner with NIESV to deliver effective tax administration and revenue utilisation.

Delivering the keynote address, Executive Chairman of the Federal Inland Revenue Service (FIRS), Dr Zacch Adedeji, described the real estate sector as a vital but under-assessed part of Nigeria’s economy.

Adedeji, represented by Chief Economic Adviser Prof. Mohammed Salisu,identified challenges such as informality, data fragmentation, and inconsistent valuation standards as obstacles to effective taxation.

“The Tax Administration Bill will provide clearer procedures and responsibilities for taxpayers, enhance compliance, and reduce inefficiencies and multiple taxation,” he said.

Adedeji called for the cooperation of NIESV in standardising property valuation methods and supporting the implementation of reforms.

NIESV President, Victor Alonge, described the conference as a milestone event, stating that the outcomes would help reposition land, housing, and infrastructure policy in Nigeria.

He assured that the institute would present a comprehensive communiqué to the government, containing resolutions and actionable policy suggestions to drive national development

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Things You Need to Know About Dr. Charles Akinola, the Newly Nominated Managing Director of SWDC

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….A Seasoned Public Policy Advisor and Development Strategist

Dr. Akinola has over 30 years of experience in public service, international development, and strategic governance, specializing in agricultural development, sustainable economic growth, and policy implementation across Nigeria and West Africa.

2. Holds Prestigious Academic Credentials from Global Institutions. He earned a Ph.D. in Agricultural Extension from the University of Ibadan and a master’s in public policy & administration from Harvard Kennedy School, where he was an Edward S. Mason Fellow.

He also studied at Cambridge, Cranfield, and MIT, gaining advanced expertise in cross-sector partnerships, enterprise development, and conflict resolution.

3. Instrumental in the Formation of the SWDC and the DAWN Commission

Long before his nomination, Dr. Akinola played a key role in founding the Development Agenda for Western Nigeria (DAWN) Commission for regional integration. He was deeply involved in shaping the vision of the SWDC.

As Chairman of the Technical Committee under the Southwest Governors’ Forum, he led the review of the SWDC Bill and coordinated regional consensus on development priorities.

4. Former Chief of Staff in Both Federal and State Governments, He served as Chief of Staff to the Governor of Osun State (2018–2022) and later as Chief of Staff to the Minister of Marine & Blue Economy, His Excellency Adegboyega Oyetola (CON), while also acting as Senior Special Assistant on Marine and Blue Economy to President Tinubu.

These roles gave him frontline experience in both subnational and national policy execution.

5. A Leader in Community Engagement and Sustainable Development, Dr. Akinola has worked with major oil & gas companies, including WAPco, designing sustainable livelihood programs across Nigeria and the Gulf of Guinea. His contributions helped establish the Global Memorandum of Understanding (GMoUs) as an industry benchmark for community development in the Niger Delta.

6. Active Global Policy Thought Leader.

He is a member of the Dean’s Council at the Harvard Kennedy School of Government and was a Fellow at Harvard’s Weatherhead Centre for International Affairs. His thought leadership focuses on governance, economic innovation, and institutional reform.

7. Arts Collector

Dr. Akinola is a lover of the arts and culture, collects works of indigenous artists, such as Jimoh Buraimoh, Demas Nwoko, Tola Wewe, Nike Okundaye, among others.

*Career Highlights*

• Dr. Charles Akindiji Akinola is a Public Policy Advisor and Administrator whose work has traversed the agricultural and agribusiness, sustainable community economic development, international affairs, and development sectors, developing strategies that shape policy implementation.

• Dr. Akinola holds a Ph. D. in Agricultural Extension from the University of Ibadan, and a master’s degree in public policy & administration from the Harvard Kennedy School of Government, Harvard University.

• He also holds a Postgraduate Certificate in Cross-Sector Partnerships from the University of Cambridge, Cambridge, UK, and attended certificate courses in Enterprise Development and Management from Cranfield University, Cranfield UK, and in Negotiation, Mediation, and Dispute Resolution from the Massachusetts Institute of Technology (MIT), Boston, USA.

• Until recently, Dr. Akinola was Senior Special Assistant to the President on Marine & Blue Economy and concurrently, Chief of Staff to the Honourable Minister.

• He served as the Chief of Staff to the Governor of Osun State between 2018 and 2022. During his tenure, he supported the Governor in developing and implementing policy objectives and strategic and operational plans of the administration.

• As Chief of Staff, the Southwest Governors Forum appointed Dr. Akinola as the Chairman of the Technical Committee to review the South-West Development Commission (SWDC) Bill and aggregated the position of the six Southwest States towards a joint memorandum to the Governors and subsequently to the National Assembly.

• He has worked with major oil & gas companies within and outside Nigeria including the West African Gas Pipeline (WAGP) / West Africa Gas Pipeline Company (WAPco) covering Nigeria, Republic du Benin, Togo, and Ghana by designing and implementing programs that addressed issues of Sustainable Development and Livelihoods in the Niger Delta and West Africa region.

• He advised and collaborated with International Oil companies in the development of the New Community Engagement Strategy, premised on the Participatory Regional Development Model (2005), guided by the Global Memorandum of Understanding (GMoUs). The model was adopted as the industry standard in Community engagement and development by the joint ventures of the National Nigerian National Petroleum Corporation and the Oil companies in the Niger Delta.

• In previous roles, Dr. Akinola was the Director General of the Office of Economic Development and Partnerships (OEDP) between 2011 and 2018. The OEDP was the strategic Think Tank, Policy Advisory, and Implementation agency domiciled in the Office of the Governor. Dr. Akinola played a central role in the activities leading to the establishment of the Development Agenda of Western Nigeria (DAWN) Commission.

• He was Chairman of the Osun State Planning Commission between 2011-2014 and in this capacity collaborated with leading development partners to deliver sustainable development in the State.

• Dr. Akinola was the Founder and Executive Director of Enterprise for Development International (EfDI) between 1999 and 2009. In this role, he coordinated EfDI’s varied consultancy assignments in community economic development in Nigeria, including the expansion of EfDI’s portfolio of development activities in the Niger Delta and the strengthening of local institutions.

• Between 2001 and 2005, Dr. Akinola was the National Coordinator of the Sustainable Tree Crop Program (STCP), a multi-agency, public-private sector effort to facilitate the improvement of smallholder agricultural systems based on tree crops in West Africa with funding from the United States Agency for International Development (USAID) and the Chocolate Industry Worldwide.

• Between 1993 and 1998, Dr. Akinola was the Nigeria Country Director of TechnoServe, a US-based international development organisation that worked in 17 countries in Africa, Latin America, and Eastern Europe.

• He taught at the University of Ibadan in Nigeria from 1984 until 1989 and was on the training and research faculty of the Pan African Institute for Development (PAID) in Buea, Cameroon 1990.

• Dr. Akinola was an Edward S. Mason Fellow at the Harvard Kennedy School of Government and, subsequently, a Fellow at the Harvard Weatherhead Centre for International Affairs (WCFIA). His work focused on Innovation for Economic Development and Governance between 2009 and 2011.

• He is currently a member of the Harvard Kennedy School of Government Dean’s Council.

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Update : Four executive bills, Senate passes two remaining tax reform bills

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The Senate has passed the final two of the four major tax reform bills, completing clause-by-clause consideration as it aims to modernise Nigeria’s tax administration framework.

During Wednesday’s plenary, lawmakers began deliberation on the reports of the four executive-sponsored tax bills, successfully passing two and deferring the remaining two to Thursday.

However, all four have now been approved.

The bills include the Joint Revenue Board Establishment Bill, the Nigeria Revenue Service Establishment Bill, the Nigeria Tax Administration Bill, and the Nigeria Tax Bill.

“These four executive bills seek to transform and modernise the tax system in Nigeria,” the Senate stated during the session.

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The following passage, a conference committee has been constituted to harmonise the versions with the House of Representatives. Once aligned, the bills will be forwarded to President Bola Ahmed Tinubu for his assent.

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