Dangote, others pay N5.8bn levy on imported raw sugar

Business News

By Franklin Ocheneyi

DANGOTE Sugar Refinery, BUA Sugar Refinery and Golden Penny Sugar, paid a total of N5.8 billion sugar levy to the federal government for the importation of 2.6 billion metric tonnes of bulk raw sugar from Brazil in 2017.

Data on Sugar Importation from January-December 2017, obtained by Nigeria Industrial Digest from National Sugar Development Council, NSDC, showed that the sugar manufacturers imported 2.6 billion metric tonnes of the bulk raw sugar through the Tin Can and Nigeria Ports Authority (NPA).

Here is the breakdown: 687,436 metric tonnes in the first quarter of 2017(Jan-Mar); 738,978 metric tonnes in the second quarter (April-June) while the volume of the commodity imported in quarter 3 of 2017 was 487,600 metric tonnes and 658, 679 metric tonnes in the fourth quarter of 2017.

According to the data, the levy paid during the year under review amounted to N5.8 billion.

The breakdown as follows: N2.2 billion in q1; (Levy paid in quarter two, not captured) N1.2 billion q3; N2.3 billion in quarters 4.

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