Price of 50kg Bag of Sugar in Nigeria 2024

In Nigeria, the sugar industry has undergone big changes in the past few years, which has affected the price of sugar in the country. Today, many businesses and people are interested in the current price of a 50kg bag of sugar in Nigeria, as well as the factors that affect that price and the impact of sugar pricing on the economy.

Let’s look into the current pricing trends for sugar, the factors that affect sugar prices in Nigeria, and tips for getting the best value for your money.

Also see: Prices of Noodles Per Carton in Nigeria (July 2024)

Current Prices of a 50kg Bag of Sugar in Nigeria 2024

As of the middle of 2024, the price of a 50 kg bag of sugar in Nigeria varies by location and brand. You should expect to pay around ₦70,000 to ₦85,000 for a 50 kg bag. This range shows how regional supply chains, transportation costs, and local demand can cause differences.

Regional Price Differences of Sugar in Nigeria

Price of 50kg bag of sugar in Lagos

Prices for a 50 kg bag of sugar are slightly higher in Lagos, Nigeria’s business capital, ranging from ₦80,000 to ₦90,000. Prices are increasing because there is more demand and it costs more to live in the city.

Price of a 50kg bag of sugar in Kano

Prices are more stable in Kano, one of Nigeria’s main agriculture hubs, where they stay between ₦70,000 and ₦75,000. These prices are generally lower because they are close to sugarcane farms, and transportation costs are lower.

Price of 50kg bag of sugar in Port Harcourt

In Port Harcourt, prices are comparable to those in Lagos, ranging from ₦80,000 to ₦90,000.

The city’s status as an oil hub influences the costs here, which affects local economic conditions and transportation costs.

Price of 50kg bag of sugar in Abuja

A 50 kg bag of sugar costs between ₦75,500 and ₦80,000. However, Abuja is the capital of the country.

The high prices there are because of the higher cost of living and the clustering of government work.

How Much Is 1kg Of Dangote Sugar?

Prices for 1kg of Dangote Sugar in Nigeria can differ based on where you buy from. Currently, the price range is around ₦2,000 to ₦2,500.

Kindly note that prices may vary due to market dynamics and inflationary pressures.

Prices of Various Brand of Sugar in Nigeria

Different sugar brands in Nigeria have their prices, which differ slightly from one brand to another.

BRAND	Quantity	PRICES
Dangote  Sugar	50kg	75,000 -85,000
Dangote  Sugar	25kg	40,000 – 45,000
BUA Sugar	50kg	70,000 -80,000
BUA Sugar	25kg	35,000 – 40,000

Brands Of Sugar In Nigeria

Dangote Sugar

In Nigeria, this is the most-bought brand of sugar. Dangote Sugar Refinery makes Dangote sugar.

 It is a part of the Dangote Group, one of Africa’s biggest business groups. Dangote Sugar sells both pure white sugar with and without added vitamin A.

BUA Suga

BUA Sugar is another major brand of sugar in Nigeria. BUA Foods, a Nigerian conglomerate, produces it.

BUA Sugar also offers both Vitamin A fortified and unfortified sugar.

Other brands:

Other sugar brands, including Golden Sugar and St Louis, are also available in Nigeria. These brands are typically less widely available than Dangote Sugar and BUA Sugar.

Factors Influencing the Price of Sugar in Nigeria

The price of sugar in Nigeria keeps fluctuating due to several factors that affect the sugar market. Let’s look at some of these factors below:

1. Global Sugar Prices

Nigerian sugar prices are affected by sugar prices around the world in a big way. The country imports a lot of sugar to meet its needs, and any price changes worldwide are mirrored in the local market.

2. Regulations and policies made by the government

The price of sugar in Nigeria can be affected by government regulations and policies, like tariffs, taxes, and trade deals. For example, sugar prices went up when the Nigerian government decided to put a 10% tariff on sugar imports in 2020.

3. Demands and Supply

Regarding sugar prices in Nigeria, the relationship between supply and demand is very important. Price hikes can happen when there are problems with the supply chain, like insufficient goods being supplied to the market or problems with transportation.

4. Exchange rate fluctuation

Currency fluctuations also affect sugar costs; how much the Nigerian naira is worth in US dollars will always affect sugar prices due to the import of sugar into the country.

When the value of the naira goes down, it can make goods more expensive, which can cause sugar prices to go up.

5. Costs of production

The price of sugar in Nigeria can be affected by the cost of producing it, including labor, shipping, and raw materials. Any rise in the cost of production can cause prices to go up for customers.

6. Distribution Costs:

The final price consumers pay for sugar is increased by transporting it from the facilities where it is produced or imported to the retail outlets where retailers sell it.

Various factors, including fuel and transportation infrastructure, can affect distribution costs.

Impact of Sugar Pricing on the Nigerian Economy

There are substantial repercussions for the economy caused by the rising price of sugar in Nigeria. Here are some ways this price hike has affected or will affect the economy.

1. Food Inflation

Sugar is an essential component of many food products in the country; hence, any increase in the cost of sugar can contribute to the inflation of food costs.

An increase in sugar prices in Nigeria has the potential to have a ripple effect on the economy as a whole, affecting both the economy’s growth and the cost of living in Nigeria.

2. Business Operations

The price of sugar can substantially influence businesses that rely on sugar as a raw material. Any increase in the price of sugar can result in greater production costs, which can have an impact on profit margins as well as the operations of a business.

3. Employment

The sugar industry in Nigeria is a key employer, and interruptions in the industry can affect the number of people employed. Fluctuations in sugar prices can result in the loss of jobs and other economic instability.

Major Sugar Producers and Distributors in Nigeria

Sunti Golden Sugar Estate Limited, Sunti, Niger State

The Sunti Golden Sugar Estate Limited (SGSE) is one of the biggest sugar producers in Nigeria.

It is located in Mokwa on the banks of the Niger River and is a subsidiary of Flour Mills of Nigeria Plc (FMN).

The estate has a huge 17,000 hectares of irrigable land and a sugarcane plantation that covers 3,500 hectares.

Its mill can make 100,000 tons of sugar annually, and the estate plans to increase production to 250,000 tons annually.

Dangote Sugar Refinery

With a production capacity of 1.44 million tonnes per year, Dangote Sugar Plc is the biggest sugar plant in Sub-Saharan Africa. It is located at Apapa Wharf Complex in Lagos.

The company brings in raw sugar, turns it into white sugar with added vitamin A, and packages it under “Dangote Sugar” for use in homes and businesses.

In addition to its refining operations, Dangote Sugar has established the Savannah Sugar Company in Numan, Adamawa State. This project focuses on cultivating sugarcane to fulfill a portion of the company’s refining requirements.

Bua Sugar Company Lafiagi, Kwara State  

BUA Group bought LASUCO when it was a state-owned business, and BUA Foods Plc, a subsidiary of BUA Group, now runs LASUCO.

LASUCO has a huge 20,000-hectare sugar plantation, which makes it a big part of Nigeria’s sugar production.

The company runs a sugar mill that can crush 10,000 metric tonnes of sugarcane daily. They also plan to open a refinery that will be able to make 220,000 metric tonnes of sugar every year.

This will make them the biggest integrated sugar factory in West Africa.

Conclusion on: Price of 50kg Bag of Sugar in Nigeria 2024

In Nigeria, the price of a 50kg bag of sugar is an important influence on the country’s economy and the cost of living. Consumers, organizations, and governments must have a solid understanding of the factors that determine sugar pricing and the impact that these factors have from an economic standpoint.

As the sugar sector continues to change, it is of the utmost importance to keep a close eye on prices and devise methods to mitigate any negative consequences that price changes may cause.