The Federal Government, through the Ministry of Industry, Trade, and Investment, has initiated collaborative efforts with major companies operating under the pioneer status of the National Sugar Master Plan to address the escalating price of sugar and enhance local sugar production capacity in Nigeria. Minister of Industry, Trade, and Investment, Dr. Doris Uzoka Anite, revealed this after conducting a tour of sugar companies.
In a statement on Wednesday, Minister Anite emphasized that the objective is to ensure price stability, particularly during the upcoming Ramadan period when the demand for sugar and related products traditionally surges, leading to price hikes. Market surveys indicate that the current cost of a 50kg bag of sugar ranges between N60,000 to N62,000, depending on the location of purchase.
Anite remarked, “The issue of sugar pricing is essential as it affects almost every household in Nigeria and today, I saw firsthand, 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.”
During her tour, the minister visited prominent sugar producers, including Dangote Sugar Refinery Plc, BUA Sugar Refinery Ltd, Flour Mills Limited, Bestaf Ltd, and Golden Sugar Company. She commended these companies for their dedication to high-quality sugar production and emphasized their pivotal role in supporting the government’s efforts to strengthen the agricultural sector for food security.
Anite revealed plans for collaboration with the Federal Ministry of Science, Technology, and Innovation to provide advanced machinery and equipment, aiming to reduce importation and promote international standards in the sugar industry.
Addressing concerns about performance standards, particularly during her visit to the Golden Sugar Company, the Minister emphasized that sub-par performance in the National Sugar Master Plan would not be acceptable. She praised the industry’s commitment to price stability during Ramadan, highlighting the collaborative relationship between the government and the private sector as a reassuring step toward national development.
