A significant milestone in Nigeria-Benin relations unfolded as Senator John Owan Enoh, Nigeria’s Minister of State for Industry, Trade, and Investment, visited Cotonou to inspect the once-thriving Savé Sugar Company, a joint venture between Nigeria and the Benin Republic.
Upon arrival, Senator Enoh paid a courtesy visit to his Beninese counterpart, Shadiya Alimatou Assouman, Minister of Commerce and Industry, to express appreciation for the security measures implemented by the Beninese government to safeguard the sugar company, which was established in 1975.
The meeting underscored the shared concerns and aspirations of both nations. Minister Assouman acknowledged the significance of the visit, stating:
“This visit marks a historic moment. Since the inception of the company, no Nigerian minister has visited the facility. Your bold step signifies a commitment not only to the sugar complex but also to the bilateral relations between our nations.”
Following the meeting, Senator Enoh proceeded to the factory for an on-site inspection. The once-flourishing company now lies in a state of decline, exacerbated by the departure of Complant of China, the last management entity, which vacated the premises in May 2023 after a 20-year lease agreement expired.
However, the company’s troubles predate the exit of the Chinese managers. A 2021 joint assessment had already painted a grim picture, recommending that Nigeria sell its equity stake in the company. The Buhari administration, however, rejected the idea, opting instead to seek new core investors once Complant’s lease ended.
Flanked by his team, Senator Enoh meticulously examined the deteriorating infrastructure, assessing its potential for revival. After the inspection, he emphasized the urgent need for action:
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“Various meetings at both technical and policy levels have been held, but action is now imperative. Seeing is believing, as the saying goes. This visit is an eye-opener, and more than anything else, we are committed to its revival. Both nations must urgently secure a worthy core investor in the shortest possible time. This is not just about sugar; it is about livelihoods, partnerships, and our shared future.
“However, if securing an investor proves unfeasible, we must reconsider the 2021 joint assessment report’s recommendation to sell Nigeria’s equity stake. Action starts today.”
Distinct News reports that with this renewed commitment, the future of Savé Sugar Company now hinges on decisive steps from both governments to either attract new investment or reconsider their stake in the venture.
