Ramadan: FG moves to reduce sugar prices

As part of efforts to reduce the rising prices of sugar, especially in festive periods like the forthcoming Ramadan,  the federal government said it is engaging local producers to boost local sugar production in Nigeria.

The federal government said the engagement with major companies under the pioneer status of the National Sugar Master Plan (NSMP) on collaborative terms is targeted at reducing prices through improved local production, a statement by the Minister’s media unit disclosed yesterday.

Speaking after a tour of the companies; Dangote Sugar Refinery Plc, BUA Sugar Refinery Ltd, Flour Mills Limited, Bestaf Ltd and Golden Sugar Company in Lagos, the Minister of Industry, Trade and Investment, Dr. Doris Uzoka Anite reaffirmed Government commitment in attaining self-sufficiency in sugar production in the country.

She explained that “the issue of sugar pricing is essential as it affects almost every household in Nigeria, assuring the public that there would be no increase, especially during the Ramadan period.

“Today, I witnessed a standard of innovation and commitment to quality. We stand firm in ensuring stable sugar prices, crucial for Nigerians, particularly during Ramadan as well as forge ahead in creating a sustainable and flourishing sugar industry for all,” She said.

Speaking further, she noted that “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. This pledge by the sugar refineries, supported by the Federal Government’s resolve, is a reassuring step towards national development” the statement noted.