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FG to lower sugar price ahead of 2024 Ramadan

Anite remarked, "The issue of sugar pricing is crucial as it affects almost every household in Nigeria. We assure the public that there will be no increase, especially during the Ramadan period."

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FG to lower sugar price ahead of 2024 Ramadan

In a bid to alleviate the escalating costs of sugar, particularly during festive periods like the upcoming Ramadan, the federal government has revealed its initiative to collaborate with local sugar producers to bolster domestic sugar production in Nigeria.

A spokesperson for the Ministry of Industry, Trade and Investment disclosed that the government is actively engaging major companies operating under the pioneer status of the National Sugar Master Plan (NSMP) to foster cooperation aimed at reducing prices through enhanced local production.

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Following a tour of prominent companies including Dangote Sugar Refinery Plc, BUA Sugar Refinery Ltd, Flour Mills Limited, Bestaf Ltd, and Golden Sugar Company in Lagos, Minister of Industry, Trade and Investment, Dr. Doris Uzoka Anite, emphasized the government’s dedication to achieving self-sufficiency in sugar production within the nation.

Anite remarked, “The issue of sugar pricing is crucial as it affects almost every household in Nigeria. We assure the public that there will be no increase, especially during the Ramadan period.”

She also expressed appreciation for the companies’ innovation, quality commitment, and the vital role they play in ensuring stable sugar prices.

Anite further highlighted the collaborative effort between the government and the private sector in achieving this shared goal, emphasizing the government’s support for the industry’s commitment to price stability during Ramadan.

The government’s concerted efforts in conjunction with the local sugar producers signal a promising step towards national development, the statement concluded.

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