• Sunday, March 03, 2024
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FG moves to tackle rising sugar price with improved local production

No sugar price increase during Ramadan, producers pledge

In a bid to curtail the rising price of sugar, especially in festive periods like Ramadan, and also improve the capacity of local sugar production in Nigeria, the Federal government is engaging the major companies under the pioneer status of the National Sugar Master Plan (NSMP) on collaborative terms as a means to foster growth in the sector.

Speaking after a tour of Dangote Sugar Refinery Plc, BUA Sugar Refinery Ltd, Flour Mills Limited, Bestaf Ltd, and Golden Sugar Company in Lagos, Doris Uzoka Anite, Minister of Industry, Trade and Investment, reaffirmed Government commitment to 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.”

Anite therefore pledged the full support of the Government and announced potential collaborations between the National Sugar Development Council and the Industrial Training -Fund.

“This partnership will generate more employment opportunities and enhance skills within the industry” she stated.”

She also revealed plans for collaboration with the Federal Ministry of Science, Technology, and Innovation to provide cutting-edge Machinery and Equipment to reduce importation and promote international standards.

According to a statement by the Minister’s Media Unit, Anite further stated that the sugar refineries’ pledge is a clear demonstration of their alignment with the government’s efforts to bolster the agricultural sector for food security.

“I have witnessed their dedication to high-quality sugar production. While commendable, our collective goal demands a higher standard,”

She acknowledged the industry’s effort in meeting the demand of sugar consumption in the country while emphasizing the need for continued excellence and efficiency in production.

Addressing performance concerns during her visit to Golden Sugar Company, the Minister stressed that subpar performance in the National Sugar Master Plan (NSMP) would not be acceptable.

“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.

The minister’s visit served as a strategic platform for the Minister to communicate the government’s unwavering stance on elevating performance standards within the sugar industry.