Nigeria is currently losing at least 300,000 tonnes of sugar to smuggling annually, the Chairman, Dangote Group, Alh. Aliko Dangote, has said.
He made this known during the Dangote Sugar Annual General Meeting (AGM) in Lagos on Tuesday.
He said that the smuggling activities in the sugar industry had hindered the employment of at least 250, 000 Nigerians.
According to him, it has also led to economic sabotage.
Dandote acknowledged that negative activities made 2018 a challenging year for the company.
He identified the influx of smuggled sugar into key markets nationwide as one of such negative activities.
According to him, the Apapa gridlock also affected the evacuation of products from the refinery and constrained logistics operations, distribution, and delivery to customers.
He said that the performance of Savannah Sugar Company was impacted by communal clashes between the host community and herdsmen.
The industrialist said that the situation led to the closure of the company for more than three months.
The business mogul said that despite the challenges, the company continued to post resilient performance.
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