Federal Government Takes Action to Lower Sugar Prices Ahead of Ramadan

• The federal government engages local sugar producers to enhance production, aiming to curb rising costs and ensure stable prices during Ramadan
• Minister of Industry, Trade, and Investment Dr. Anite emphasizes the commitment to achieving self-sufficiency in sugar production in Nigeria

In a strategic move to curb the escalating costs of sugar, especially during festive occasions like the upcoming Ramadan, the federal government has initiated discussions with local producers to enhance sugar production within Nigeria.

The government is actively engaging major companies operating under the pioneer status of the National Sugar Master Plan (NSMP) in collaborative efforts to reduce prices through increased local production, according to a statement from the Minister’s media unit released yesterday.

After touring key companies, including 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, reiterated the government’s commitment to achieving self-sufficiency in sugar production within the country.

Addressing the media, Dr. Anite emphasized the significance of addressing sugar pricing, considering its widespread impact on households across Nigeria. She assured the public that there would be no price hikes, particularly during Ramadan.

“I witnessed today a standard of innovation and commitment to quality. We are resolute in ensuring stable sugar prices, crucial for Nigerians, especially during Ramadan, and advancing towards building a sustainable and thriving sugar industry for all,” she stated.

Dr. Anite underscored the collaborative relationship between the government and the private sector, citing the sugar industry’s commitment to price stability during Ramadan as a testament to their collective goals. The statement highlighted the pledge made by sugar refineries, supported by the Federal Government’s determination, as a positive step towards national development.