Flour mills sets to maximise local content
Flour Mills of Nigeria has affirmed its readiness to maximise local content in agro-allied investments. This was disclosed by the Chairman of the company, Mr. John G. Coumantaros, at the official commissioning of Sorghum Milling Plant, in Kano, by the Northern Nigeria Flour Mills.
“We are determined to ensure the success of our agro-allied investments. In doing so, we maximise local content in our final products and derive good synergies. We remain committed to our policy of being involved at all stages of the food value chain from Farm to Fork.”
He noted that the Sorghum Mill was installed to produce 100,000 metric tonnes per annum, saying that the milling facility dedicated to produce Sorghum Flour and other related products, will meet the market projected sales growth within the next couple of years.
“Reacting to the challenging economic realities, which began some years ago, Northern Nigerian Flour Mills in early 2015, temporarily suspended milling of imported Wheat. With the advantage of hindsight, it is clear that this was a perceptive decision.”
Explaining that management of the company then resisted the logical business decision to close the Mill like what other competitors did, he stressed that instead it took a large strategic decision to realign the company’s operations and diversify operations, which include the Milling of Sorghum, in addition to the milling of Maize, which it is still doing.
On her part, the Minister of State, Trade and Investments, A’isha Abubakar said it was the intention of the Federal Government to always help in restructuring the nation’s economy, adding that the new development was in line with the Federal Government’s philosophy of industrial development.
The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, who was represented by a Director, Mr Sulaiman Barau, said the development was part of government’s effort for the private sector to reshape and redirect the economy.
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