BUA Foods Plc has assured Nigerians that it will not join the suspension of the sale of Sugar nationwide.
“We would like to reassure our customers that BUA is not joining the suspension of sales of Sugar” the company asserted in a statement issued in response to ceaseless inquiries from its publics.
Flour Mills and Dangote have reportedly suspended the sales of Sugar.
Flour Mills’ decision to suspend the sale of Sugar is linked to the Federal Government declining its 2022 raw sugar allocation due to “compliance issues”, while Dangote Sugar seems to be acting in solidarity with Flour Mills.
BUA Foods has backed the government decision on Flour Mills insisting that “We believe that Government should not be blackmailed into rescinding a compliance-based decision and the process should be allowed to follow it due and proper course.”
The food business arm of achiever entity with Forbes rated billionaire Abdul Samad Rabiu as Chairman, BUA Group stated for clarity “We would like to reiterate that BUA does not intend to join this suspension of Sugar sales nor increase prices between now Ramadan (a peak demand period for Sugar) as the others have done.”
The company went on to assure it customers and Nigerians that it has the capacity to take major pains away from any form of artificial scarcity with the assurance that “For further context and clarity, BUA has enough capacity between its Lagos Sugar Refinery and Port Harcourt Sugar Refinery with a combined capacity of 1.5illion metric tonnes to meet 90% of local demand in Nigeria.
If need be, BUA is ready to stop all Sugar exports and channel that to meet local demand..”
BUA Foods further pleaded with customers and dealers “to ensure there is no panic buying and not to withhold stock as we have enough Sugar to sustain the market between now and after Ramadan which starts in the next 6 weeks”.