FG Acts to Curb Surging Sugar Prices

The Ministry of Industry, Trade, and Investment in collaboration with major companies operating under the National Sugar Master Plan aims to address the surge in sugar prices and enhance local sugar production in Nigeria. Minister Doris Uzoka Anite highlighted this initiative after visiting various sugar companies. This step, aimed at ensuring price stability, particularly during the upcoming Ramadan period (scheduled from March 10 to April 9, 2024

Typically, during this period, there’s a significant surge in the prices of sugar and related goods due to higher demand outweighing the supply. Presently, a market survey reveals that a 50kg bag of sugar is priced between N60,000 to N62,000, varying by the location of purchase.