The Federal Government has unveiled plans to stem the rising price of sugar and improve the capacity of local producers of the commodity.
Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite disclosed this via a statement on Wednesday following her tour of sugar companies.
Uzoka-Anite said towards this end, her ministry had engaged major firms under the pioneer status of the National Sugar Master Plan on collaborative terms.
Apart from stemming the price rise and improving production, she noted that the government also aims to maintain the price stability of the product, especially during the upcoming Ramadan period.
The holy month of Ramadan, a time dedicated by Muslims to fasting and praying, is scheduled to commence from March 10 to April 9, 2024.
Uzoka-Anite said: “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.”
According to the statement, the minister visited sugar producers such as Dangote Sugar Refinery Plc, BUA Sugar Refinery Ltd, Flour Mills Limited, Bestaf Ltd, and Golden Sugar Company.
She further stated that the sugar refineries’ pledge demonstrated their alignment with the government’s efforts to bolster the agricultural sector for food security.
She pledged the government’s full support to the sector’s growth.
Anita also unveiled plans to collaborate with the Federal Ministry of Science, Technology, and Innovation to provide cutting-edge machinery and equipment to reduce importation and promote international standards.
“I have witnessed their dedication to high-quality sugar production. While commendable, our collective goal demands a higher standard,” she said.
Addressing performance concerns during her visit to Golden Sugar Company, the minister stressed that sub-par performance in the 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,” Uzoka-Anite added.