Minister of Commerce Assures Stability in Sugar Prices Ahead of Ramadan
- Katsina City News
- 11 Jan, 2024
- 447
Katsina Times
The Minister of Industry, Trade, and Investment, Dr. Doris Uzoka-Anite, has confirmed that measures are in place to stabilize the prices of sugar and various agricultural products before the commencement of the month of Ramadan.
Receiving assurances from prominent oil refineries across Nigeria, the Minister expressed confidence in the stability of commodity prices in the country. However, she clarified that while assurances have been given, they do not serve as a guarantee against potential price increases for sugar during the upcoming month of Ramadan.
In a statement released on Tuesday in Lagos and signed by Tolu Moyan, the Special Assistant on Media to the Minister of Industry, Trade, and Investment, the clarification was made.
The News Agency of Nigeria has reported that the holy month of Ramadan, observed by Muslims worldwide with fasting and prayers, is scheduled from March 10 to April 9, 2024. Traditionally, during this period, the prices of sugar and other commodities tend to rise due to increased demand compared to supply.
To address these concerns, the Minister undertook visits to major producers of consumer goods, including Dangote Sugar Refinery Plc, BUA Sugar Refinery Ltd., Flour Mills Ltd., Bestaf Ltd., Golden Sugar Company, and Coca Cola Hellenic Bottling Company (CHBN).
Emphasizing that this decision aligns with the Federal Government's agenda to ensure food security and stabilize the economy, the Minister is taking proactive steps to mitigate potential challenges in commodity prices during the Ramadan period.
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