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  • Business - Economy
  • Updated: February 17, 2022

Ignore Rumour Of Sugar Scarcity, Production Not Reduced - FG

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Okojie Kelvin Echiejile
Okojie Kelvin Echiejile

I am an astute, dedicated, devoted, and intelligent investigator of economic, and financial news and...

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On Wednesday, the Federal Government said there was no truth to reports that Nigeria was going to run out of sugar soon. It also said there had been no decrease in the amount of sugar being made.

The government was responding to an advertorial published on Monday, where BUA Foods Plc had accused Flour Mills of Nigeria and Dangote Sugar of sabotaging the FG efforts to achieve sugar sufficiency in domestic production, a claim Flour Mills of Nigeria denied.

BUA Foods also accused Dangote Sugar of creating an artificial scarcity of the product so that it could not only raise the price but arm-twist the government into giving the suspended license back to Flour Mills of Nigeria Plc.   

In response, the Executive Secretary of the National Sugar Development Council, Zacch Adedeji, advised operators not to raise false alarms at the public presentation of the approved presidential raw sugar quota allocations for 2022 to representatives of the sector's refineries in Abuja.

He said, "Only yesterday, the attention of the council was drawn to a publication in some sections of the media credited to BUA Foods on the suspension of sugar sales."

"Given the strategic importance of the sugar value chain to the Nigerian economy, the council wishes to state that there is no known stoppage in sugar production by any of the operators as a result of compliance issues or on council's mandate."

 

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Okojie Kelvin Echiejile
Okojie Kelvin Echiejile

I am an astute, dedicated, devoted, and intelligent investigator of economic, and financial news and...

More From this Author

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