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April 17, 2024

FG Moves to Stabilise Sugar Price

Following consistent increase in prices of sugar and other food commodities during Ramadan due to high demand, major  sugar refineries across Nigeria have pledged their commitment to maintaining sugar price stability during the Ramadan period.

The Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, has confirmed the pledge through a statement signed by Tolu Moyan, Special Assistant on Media to the Minister of Industry, Trade and Investment, in Lagos. 

The minister visited leading sugar producers, including Dangote Sugar Refinery Plc, BUA Sugar Refinery Ltd., Flour Mills Ltd., Bestaf Ltd., Golden Sugar Company, and the Coca-Cola Hellenic Bottling Company (CHBN).

Uzoka-Anite commended the refineries for their steadfast commitment to maintaining price stability, stating that it reflects their dedication to supporting the nation during this significant period. 

She emphasized that this move aligns with the Federal Government’s agenda for food security and economic stability, as well as President Bola Tinubu’s 8-Point Agenda.

Her words:  “Rest assured, there will be no increase in sugar prices, especially during Ramadan. The sugar refineries’ pledge is a clear demonstration of their alignment with the government’s efforts to bolster the agricultural sector and food security, key components of President Tinubu’s transformative agenda.

“The sugar industry’s commitment to price stability during Ramadan exemplifies a synergistic relationship between the government and the private sector, working hand in hand to achieve common goals. 

“I have witnessed their dedication to high-quality sugar production, and while that is commendable, our collective goal demands a higher standard,” Uzoka-Anite stated.

The minister also emphasized that subpart performance in the sugar master plan would not be accepted. 

She therefore. charged the refineries to not only maintain prices during Ramadan but also to enhance overall productivity and efficiency in line with the Federal Government’s vision.

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