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Refineries Have pledged to Maintain Stable Sugar Prices During The Upcoming Ramadan Holy Month

Traditionally, during this period, the prices of sugar and some other consumables tend to increase due to higher demand than supply.

Refineries Have pledged to Maintain Stable Sugar Prices During The Upcoming Ramadan Holy Month. 

The Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, has confirmed that major sugar refineries across the nation have pledged their commitment to maintaining sugar price stability during the Ramadan period.

The assurance came through a statement signed by Tolu Moyan, Special Assistant on Media to the Minister of Industry, Trade and Investment, in Lagos on Tuesday.

The News Agency of Nigeria (NAN) reports that the holy month of Ramadan, scheduled for March 10 to April 9, 2024, is a time dedicated to fasting and praying by Muslims worldwide.

Traditionally, during this period, the prices of sugar and some other consumables tend to increase due to higher demand than supply.

The minister visited leading 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).

Uzoka-Anite commended the refineries for their steadfast commitment to maintaining price stability, stating that it reflects their dedication to supporting the nation during this significant period. She emphasized that this move aligns with the Federal Government’s agenda for food security and economic stability, as well as President Bola Tinubu’s 8-Point Agenda.

Rest assured, there will be no increase in sugar prices, especially during Ramadan. The sugar refineries’ pledge is a clear demonstration of their alignment with the government’s efforts to bolster the agricultural sector and food security, key components of President Tinubu’s transformative agenda.

“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. I have witnessed their dedication to high-quality sugar production, and while that is commendable, our collective goal demands a higher standard,” Uzoka-Anite stated.
The minister also emphasized that subpart performance in the sugar master plan would not be accepted. She charged the refineries to not only maintain prices during Ramadan but also to enhance overall productivity and efficiency in line with the Federal Government’s vision.

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