Close Menu
Arogidigba Global JournalArogidigba Global Journal
  • Home
  • Latest News
  • National
  • Politics
  • Entertainment
  • Sports

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

Nnanna Uzor Kalu confirmed as South-East NASC Commissioner

May 20, 2025

Gombe gov assents to Electricity Law 2025

May 20, 2025

Nigerian govt targets self-reliance in arms production

May 20, 2025
Facebook X (Twitter) Instagram WhatsApp Telegram
  • About Us
  • Advert Rate
  • Get In Touch
Facebook X (Twitter) Instagram WhatsApp Telegram
Arogidigba Global JournalArogidigba Global Journal
  • Home
  • Latest News
  • National
  • Politics
  • Entertainment
  • Sports
Subscribe
Facebook X (Twitter) Instagram WhatsApp Telegram
Arogidigba Global JournalArogidigba Global Journal
You are at:Home»Business & Economy»FG pledges to maintain stable sugar price
Business & Economy

FG pledges to maintain stable sugar price

January 14, 2024No Comments3 Mins Read
Facebook Twitter Telegram LinkedIn WhatsApp Email Copy Link
Share
Facebook Twitter LinkedIn Email Telegram WhatsApp

The Federal Government has pledged to maintain equilibrium sugar prices across the country in light of the surge in the price of the commodity over the past months.

Dr. Doris Uzoka-Anite, the Minister of Industry, Trade and Investment, made this pledge after meeting with the leading sugar producers, a statement by Tolu Moyan, the minister’s special assistant on media, revealed.

Nairametrics had earlier reported that the price of a ton of sugar rose 44.2% from N579,400 in July 2022 to N835,400 in July 2023. Similarly, Dangote Sugar Plc increased the net selling price of its sugar by 33% in 2023.

The minister visited Dangote Sugar Refinery Plc, BUA Sugar Refinery Ltd., Flour Mills Ltd., Bestaf Ltd., Golden Sugar Company, and the Coca-Cola Hellenic Bottling Company (CHBN).

Following the meeting with Uzoka-Anite, the sugar producers assured the minister of their commitment to maintaining sugar price stability in the country.

  • “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.

What you should know

  • On several occasions in the last year, 2023, Nairametrics reported a significant increase in the price of sugar across the country.
  • In March 2023, Nairametrics reported that Dangote Sugar Plc increased the net selling price of its sugar by 33% to offset currency adjustment and inflation pressure.
  • Also, Nairametrics in September 2023, reported that the price of sugar hit N835,400 per ton for the week ending July 28, 2023, a 44.2% increase when compared to N579,400 per ton for the week ending July 29, 2022, according to the National Sugar Development Council.
  • The Nairametrics report on the rise of sugar in September 2023 attributed the increase in sugar prices to the global shortage of sugar supply brought about by drought that hit India, one of the commodity’s main producers and exporters, in 2023.
  • In addition to the drought that affected India’s optimum production of sugar in 2023, forex scarcity and devaluation of the Naira also contributed to sugar imports.
  • The sugar refineries in Nigeria focus on importing raw sugar into the country, where it is refined and sold.
  • The National Sugar Development Council has urged the leading sugar producers in the country, such as Dangote Sugar Plc and BUA, to invest more in sugar production and use local extract for their refineries.
  • Nigeria imports about 98% of its sugar needs.

 


Download Nairametrics App for breaking news and market intelligence.
   

Share. Facebook Twitter LinkedIn WhatsApp Email Telegram Copy Link
Previous ArticleOnly quick returns to regionalism will end borrowing, looting —Omole
Next Article Conduct integrity performance review on cabinet members — Osun APC chieftain urges Tinubu

Related Posts

Gombe gov assents to Electricity Law 2025

May 20, 2025

Nigerian govt targets self-reliance in arms production

May 20, 2025

Niger Assembly approves Gov Bago’s N70bn bond request

May 20, 2025

Leave A Reply Cancel Reply

Ads />
</a></div>		</div>

		</div>
		<div id=
Latest Posts

Nnanna Uzor Kalu confirmed as South-East NASC Commissioner

May 20, 20250 Views

Gombe gov assents to Electricity Law 2025

May 20, 20250 Views

Nigerian govt targets self-reliance in arms production

May 20, 20250 Views

Why we need to get tough on DisCos – Adelabu

May 20, 20250 Views
Don't Miss

Danish Embassy, Danish Veterinary And Food Agency, Partner NAFDAC To Combat Antimicrobial Resisitance

By Arogidigba Global JournalDecember 8, 2024

The National Agency for Food and Drug Administration and Control NAFDAC in its quest to…

CAN disburses 600 baggage of rice to Jigawa Christians

January 6, 2024

Court Nullifies Rivers 2024 Budget, Bars Fubara From Interfering In Assembly Matters

January 22, 2024

OSIEC chairmanship: I am no longer PDP member – Hashim Abioye

January 12, 2024

Senate In Rowdy Session As Lawmaker Claims ‘Older’ Senators Got N500m For Projects

March 12, 2024
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo

Subscribe to Updates

Get the latest news from Arogidigba Global Journal

About Us
About Us

AROGIDIGBA GLOBAL NEWS…something of stupendous magnitude is a digital newspaper platform published by AROGIDIGBA MEDIA LIMITED. We are accessed all over the world on the various social media. As an independent News Organization, we are purposefully positioned to serve the Nigerian audience and the world with credible news reports and shrewd analyses.

Facebook X (Twitter) YouTube WhatsApp Reddit
Latest News

Gombe gov assents to Electricity Law 2025

May 20, 2025

Nigerian govt targets self-reliance in arms production

May 20, 2025

Niger Assembly approves Gov Bago’s N70bn bond request

May 20, 2025
Editor's Pick

Ghana pays 90% of $75m gas debt to Nigeria

May 20, 20250 Views

Aramco’s $21bn dividend payout puts NNPC in spotlight

May 20, 20253 Views

FG accuses DisCos of frustrating power sector reforms

May 20, 20254 Views
© 2025 Arogidigba Global Journal dream jili register
  • Home
  • Latest News

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.