The Minister of Industry, Trade, and Investment, Dr Doris Uzoka-Anite, confirmed the commitment to sugar price stability during Ramadan. This assurance was conveyed through a statement released by Tolu Moyan, the Special Assistant on Media to the Minister of Industry, Trade, and Investment, in Lagos on Tuesday.
As reported by the News Agency of Nigeria (NAN), the holy month of Ramadan, scheduled for March 10 to April 9, 2024, involves fasting and praying for Muslims worldwide. Traditionally, the prices of sugar and some other consumables tend to rise during this period due to increased demand compared to supply.
The minister personally visited key 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). Commending these refineries for their unwavering commitment to maintaining price stability, Uzoka-Anite highlighted that their dedication aligns with the Federal Government's agenda for food security and economic stability, as well as President Bola Tinubu’s 8-Point Agenda.
She assured the public that there would be no increase in sugar prices, especially during Ramadan, emphasizing that the sugar refineries' pledge demonstrates their alignment with the government's efforts to strengthen the agricultural sector and ensure food security. Uzoka-Anite underscored the significance of the sugar industry's commitment to price stability during Ramadan as a collaborative effort between the government and the private sector to achieve common goals.
While commending the refineries for their dedication to high-quality sugar production, the minister stressed that maintaining prices during Ramadan is not the sole objective. She urged the refineries to enhance overall productivity and efficiency, aligning with the federal government's vision for sustained progress in the sugar industry. Additionally, Uzoka-Anite emphasized that subpar performance in the sugar master plan would not be tolerated, urging the refineries to uphold high standards in their operations.
