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Dangote Sugar Denies Involvement In Price Fixing, Asserts Its Strong Participation in FG’s Master Plan
Dangote Sugar Refinery PLC (DSR) is aware of an online publication claiming that Dangote Sugar Refinery PLC is engaging in price-fixing and is not honestly engaged in any Backward Integration Programme as claimed.
DSR wishes to vehemently refute the allegations and assertions in their entirety as the false allegations are geared at tarnishing the good name and brand of Dangote Sugar Refinery Plc and Dangote Industries Limited.
“DSR does not engage in artificial price manipulation of its products, either during the Holy month of Ramadan or at any other time. We have never ever increased price of our food items or commodities during the Holy month of Ramadan in the history of our operations”, according to the Group Managing Director, Mr. Ravindra Singhvi.
He also added that the Company is socially responsible and considers price-fixing to be unethical. Such allegation is highly mischievous and a calculated attempt to smear the reputation of DSR. DSR can only sadly conclude that the online publication is mischievous and geared at creating some form of undue advantage to some Industry players, he said.
He said that the company began its Backward Integration Programme (BIP) with a 10-year sugar development plan, to produce 1.5 million MT per annum of sugar from locally grown sugarcane. The Project commenced with acquisition of large expanse of land in strategic locations such as Taraba State, Adamawa State and Nasarawa State. To this end, three (3) BIP sugar companies; Dangote Taraba Sugar Limited, Dangote Adamawa Sugar Limited, Nasarawa Sugar Company Limited were incorporated.
The Company had commenced rehabilitation and expansion of its Sugar Factory at Numan. Sugarcane planting has also commenced in the two other BIP locations.
DSR has a responsibility to the Government, the good people of Nigeria and the Sugar Industry and all other stakeholders to protect the integrity of the Sugar industry and wishes to assure its stakeholders as follows: It will do all that is necessary to vehemently protect the integrity of the Sugar Industry, it is not engaged in price fixing and it encourages healthy competition amongst the players.
DSR highlighted a matter (BUA’s operation of a Sugar refinery in the Free Trade Zone in Port Harcourt, exporting refined sugar into the Custom territory) which may circumvent the National Sugar Master Plan’s (NSMP) framework and jeopardize its objectives by taking advantage of the location of its Port-Harcourt Refinery in the Free Trade Zone. DSR made this notification to the Hon. Minister of Industry, Trade & Investments bona fide, via its letter to the Minister dated January 28, 2021 asking the Minister to investigate the matter.
“We believe our action is in line with our responsibility as a major stakeholder to alert the supervising Ministry on activities that would derail the plan of the Federal Government in its drive to self -sufficiency in Sugar under the NSMP.
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Tinubu in Abu Dhabi, Pledges Support to Build Sustainable World for All
President Bola Tinubu has said Nigeria is ready to work with other nations to build a resilient, equitable, and sustainable world for all.
Tinubu spoke in Abu Dhabi, United Arab Emirates, on the second day of the 2025 Abu Dhabi Sustainability Week.
The president spoke on the topic, “From Climate Imperatives into Economic Prosperity: Bridging Africa with the Global Energy Future.”
He declared that no single nation could walk the road to sustainability alone, stressing that global interconnectedness demand collective action, knowledge sharing, and mutual support.
According to Tinubu, “The fight against climate change is not merely an environmental necessity but a global economic opportunity to reshape the trajectory of our continent and the global energy landscape.
“As leaders, stakeholders and citizens of our planet, we stand at a critical juncture in human history. To succeed, we must innovate, collaborate and act decisively as one global community.”
Reiterating his administration’s commitment to reducing carbon emissions, Tinubu assured the audience that the Nigerian government had developed actionable programmes in line with global expectations, bearing in mind Nigeria’s economic and political expectations.
He said, “We have embraced a vision of sustainability that aligns with global aspirations while addressing local realities. Our efforts are anchored on three pillars: Energy Transition, Climate Resilience, and Sustainable Development.
“My administration recognises the importance of reducing carbon emissions and a just transition to clean and renewable energy, promoting environmental sustainability and economic growth.
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FG Claps Back at Sanusi, Urges Emir to Rise Above Personal Interest
The Federal Government has responded to recent remarks by Emir Muhammadu Sanusi II regarding the economic reforms implemented under President Bola Ahmed Tinubu’s administration. The Emir, speaking at a public event in Lagos, acknowledged the initiatives but stated he had chosen “not to help the government” by offering his endorsement.
In a statement released on Thursday by the Minister of Information and National Orientation, Mohammed Idris, the government acknowledged Sanusi’s right to express his views, defended its policies, emphasizing that Nigeria is at a critical juncture requiring bold and transformative actions to address entrenched economic challenges. The statement highlighted key achievements, including exchange rate unification, the removal of fuel subsidies, and a reduction in the debt service-to-revenue ratio.
“These reforms are not being implemented because they are easy but because they are essential for Nigeria’s long-term stability and growth,” the statement read. It further noted that global institutions like the World Bank have projected positive growth for Nigeria’s economy, affirming that the country is on a path to recovery.
The government expressed disappointment over Emir Sanusi’s perceived reluctance to constructively support these reforms despite his economic expertise. “It is deeply disappointing that reforms widely recognized as essential by global experts—including Emir Sanusi II himself—are now being subtly condemned because of a shift in loyalty,” the statement added.
The government called on leaders, including Emir Sanusi, to prioritize the nation’s collective good over personal interests or partisan sentiments. “Rebuilding Nigeria requires unity, focus, and sacrifice from all stakeholders,” the statement emphasized. “This administration urges esteemed leaders to refrain from rhetoric that undermines public trust.”
President Tinubu’s administration reaffirmed its commitment to fostering economic inclusivity and sustainability. The government pledged to remain open to dialogue with stakeholders while focusing on policies aimed at improving the lives of Nigerians.
“Let history record this moment as a turning point—when leaders and citizens alike choose to prioritize the nation’s destiny over personal gain,” the statement concluded.
Eonsintelligence
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Economic Challenges: I Won’t Offer Any Advice, Emir Sanusi Tells Tinubu
Emir of Kano, Muhammadu Sanusi II, has declared that he will not offer any advice to President Bola Tinubu’s government on how to tackle the economic challenges facing the country.
The emir stated this on Wednesday during the 21st Memorial Lecture of Chief Gani Fawehimi held in Lagos.
Speaking as chairman of the event, Sanusi stated that he started by helping the government, but he has now resolved not to help the government anymore.
He said: “I can give a few points here about what we are going through and how it was predictable and avoidable. But I am not going to do that. I have chosen not to speak on the economy, or reforms, or to explain anything because if I do, it will help this government. But I don’t want to help this government. They are my friends, but if they don’t behave like friends, I won’t behave like a friend.”
Emir Sanusi added: “They don’t even have people with pedigree that can come and explain to the people what they are doing. I am not going to help. I started by helping, but I am not going to help. Let them come and explain to Nigerians why they are pursuing the policies that they are pursuing.
“But I will say this one thing though. What we are going through today is at least in part, a necessary consequence of decades of irresponsible management. People were warning that if we continued the way that we were going, this is how we will end up but they refused to listen.
“Now, is everything being done correctly? No! When I am ready to talk about the economy, I will.”
Sanusi also charged lawyers to emulate the virtues of the late Gani Fawehinmi whom he described as an embodiment of good character now lacking in the legal profession.
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