“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, 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.”