We are not at war with any company – Flour Mills tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.
While, a monopoly in an economy could not be described as an animate being in the same way that mythical Medusa was, its menace of destructively consuming communities renders it an altered personification of a hydra-headed monster itself. And like most fabled Gorgon monsters, a valiant heroic Titan is needed to defeat it.
In our world, the recent ‘sugar’ dispute between Dangote Industries Limited and The BUA Group is a modern-day reverberating saga of how this different form of hydra-headed monster, is being confronted and gallantly defeated by one of Nigeria’s very own indigenous Titans.
A monopoly, in any form, is truly a hydra-headed monster, which has a penchant for destroying the Nigerian dream and does not prognosticate well for the economy primarily. There are several facets that render a monopoly a hydra-headed monster, least of which is that it creates a market concentration that likely results in higher commodity prices than in a more competitive market.
Golden Sugar to expand production capacity by 250,000 tonnes The Punch
Published 5:22 am
Flour Mills of Nigeria Plc has said its subsidiary, Golden Sugar Company Limited, is working to increase its sugar production capacity by 250,000 tonnes per annum.
The Deputy Chief Operating Officer, Agro-allied Division, FMN, Mr Sadiq Usman, said the company remained committed to the Backward Integration Programme of the Federal Government.
He spoke during the visit of the members of National Sugar Development Council to FMN’s sugar refinery in Apapa, Lagos, on Wednesday.
According to the Deputy General Manager, Golden Sugar Company, Mr John Maniatis, the refinery has a production capacity of 750,000 tonne per annum.
Forex restriction: Sugar council to support investors for job creation tribuneonlineng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tribuneonlineng.com Daily Mail and Mail on Sunday newspapers.
By
Wed Apr 21 2021
The National Sugar Development Council (NSDC) has told the management of BUA Sugar that its new quota allocation for importing raw sugar will depend on the backward integration programme.
The Executive Secretary of the NSDC, Adedeji Zacch, disclosed this during the familiarisation visit to BUA Sugar Refinery complex at Apapa, Lagos yesterday.
Zacch said: “We have been allocating the quota based on having a refinery in the last five years and that has to stop because value addition with just the refinery is around 10 percent.
“What we want to focus on is the agricultural side which requires that you up-scale the cane plantation, the technology and the people because we want to target the export market and we will not be competitive if all we do is bring in raw sugar, refine and export.”