Victor EzejaFlour Mills Nigeria Plc has said it did not suspend sale of sugar as stated by BUA Foods, in a publication being circulated in the media in the past few days.
In a statement signed by the company’s secretary, Joseph Umolu, Flour Mills indicated that it did not halt sale of sugar in the country, urging members of the public to disregard such publication by BUA Foods aimed at misleading consumers.
BUA had issued an advertorial alleging that Flour Mills suspended sugar sales because the National Sugar Development Council (NSDC) halted raw sugar allocation for 2022.
The FMCG company also accused Dangote Sugar of suspending sales with the intention of creating artificial scarcity so as to force prices to go up and make more profits.
It indirectly accused them of not meeting up with standard requirements by the regulatory authority, and said that the government should not be blackmailed into rescinding its compliance-based policy on sugar allocation.
Reacting to that, Flour Mills which produces Golden Penny Sugar, said it has no outstanding compliance issue with the NSDC.
It said: “We wish to reassure our valued customers and consumers across the country that FMN has no outstanding compliance issues with the National Sugar Development Council (NSDC), as confirmed by the council’s latest raw sugar allocation for 2022. On the contrary, we have been adjudged as the best performing Backward Integration Program (BIP).
“In reference to the publication in some dailies, the assertion by BUA Foods on the supposed suspension of sugar sales by FMN based on compliance issues is incorrect and indeed capable of creating a false impression in the market, which is contrary to the interest of consumers,” part of the statement reads.
It added that the Golden Penny Sugar product is “still available, affordable, and accessible in the market.”
Flour Mills further stated that it will “continue to expand its investments in backward integration and the sustainable development of the critical aspects of the food value chain, including Grains, Starch, Feeds and Proteins, Oils and Fats, and Sugar,” adding that it remains committed to upholding the tenets of the National Sugar Master Plan by expanding it’s investment for sustainable development of the sugar industry in the country.
“With a total landmass of over 21,000 hectares, including a world-class sugar refinery, we have continued to expand our operations at Sunti Golden Sugar Estate including an additional 300 million USD in Nasarawa state and a commitment to investing another 70 billion over the next three years to develop the upland area of the Sunti Sugar Estate. This will further cement our commitment to Nigeria’s vision of self-sufficiency in sugar production and complement the Federal Government’s commitment to economic diversification, food security, and the transition to a more Sustainable economy,” it added.
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
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