Sugar Refineries Pledge Price Stability During Ramadan

In a strategic move reinforcing the federal government’s commitment to food security and economic stability, major sugar refineries across the country have announced their commitment to maintaining stable sugar prices throughout the Ramadan period.

The refineries gave this commitment when the minister of industry, trade and investment, Dr Doris Uzoka-Anite, visited prominent sugar producers, including industry giants such as Dangote Sugar Refinery Plc, BUA Sugar Refinery Ltd, Flour Mills Limited, Bestaf Ltd, Golden Sugar Company, and the Coca Cola Hellenic Bottling Company (CHBN).

The minister, who recognised the integral role of the sugar industry in fostering economic stability said, “Rest assured, there will be no increase in sugar prices, especially during Ramadan.”

The assurance of stable prices aligns with the broader economic objectives outlined in the 8-Point Agenda of President Bola Ahmed Tinubu, providing a foundation for economic predictability and confidence.

During her interactions with industry representatives, the minister added,

“I have witnessed their dedication to high-quality sugar production. While commendable, our collective economic goals demand a higher standard.”  Addressing performance concerns during her visit to Golden Sugar Company, the minister stressed that any subpar performance in the sugar master plan would not be acceptable.

“This commitment by the sugar refineries, supported by the federal government’s resolve, is a reassuring step towards national economic development,” the minister added.

The sugar industry’s commitment to price stability during Ramadan is a collaborative effort between the government and the private sector, working hand in hand to achieve common economic goals.