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Ramadan 2024: Sugar refineries assure no product price hikes during celebrations –Minister

Dr. Uzoka-Anite, MD, CFA, Honourable Minister for Industry, Trade and Investment, in a Group Photograph with the Sugar Industry Stakeholders Photo: State House

*Dr. Uzoka-Anite, MD, CFA, Honourable Minister for Industry, Trade and Investment, discloses the major Nigerian sugar manufacturers have pledged to not increase sugar prices during Ramadan celebrations this year

Isola Moses | ConsumerConnect

Dr. Doris Uzoka-Anite, MD, CFA, Honourable Minister for Industry, Trade and Investment (ITI), has disclosed the major sugar refineries across Nigeria have pledged to not increase sugar prices during the forthcoming Ramadan this year.

The Minister averred the sugar producers’ assurances are commendable, and in alignment with the Federal Government’s agenda for food security and economic stability in the West African country.

ConsumerConnect reports this year’s Ramadan is expected to begin in the evening on Sunday, March 10, 2024 and end on Tuesday, April 9, 2024.

Tolu Moyan, Special Assistant to the Minister on Media in a statement issued Wednesday, January 10 noted Dr. Uzoka-Anite said the sugar manufacturers’ decision also “resonates strongly with the objectives of President Bola Ahmed Tinubu’s 8-Point Agenda”, as she highlighted same during her recent tour of prominent industries in Nigeria.

It is also noted that during her visits to leading sugar producers, including Dangote Sugar Refinery Plc, BUA Sugar Refinery Limited, Flour Mills Limited, Bestaf Limited, Golden Sugar Company, and the Coca Cola Hellenic Bottling Company (CHBN), the Minister as well observed a steadfast commitment to maintaining price stability in the country’s economy.

Dr. Uzoka-Anite further stated: “Rest assured, there will be no increase in sugar prices, especially during Ramadan.”

According to her, their commitment has reflected the refineries’ readiness to support Nigeria during this significant period.

She noted the sugar refineries’ pledge is a clear demonstration of their alignment with the government’s efforts at improving the agricultural sector and food security, key components of President Tinubu’s transformative agenda.

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

The statement said the Minister equally acknowledged the industry’s efforts while emphasising the need for continued excellence and efficiency in production.

Addressing performance concerns during her visit to Golden Sugar Company, she stressed that subpar performance in the sugar master plan would not be acceptable.

This statement underscores the refineries’ commitment to not only maintaining prices during Ramadan but also to enhancing overall productivity and efficiency in line with the government’s vision, said Moyan.

The Minister further stated 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.

According to Dr. Uzoka-Anite, her recent visits to the industries served as a strategic platform for her to communicate the government’s unwavering stance on elevating performance standards within the sugar industry, while harmonising with the strategic goals embedded in President Tinubu’s 8-Point Agenda.

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