Flour Mills to invest over $300m in sugar production

Flour Mills to invest over $300m in sugar production

Flour Mills Nigeria is to invest over $300m in the establishment of a sugar manufacturing company in Nasarawa state even as the company would stimulate economic activities in the state and provide employment opportunity to the people of the state.

The company’s Managing Director (GMD)/Chief Executive Officer, Omoboyede Olusanya, made this known during the signing of Memorandum of Understanding (MoU) with the Nasarawa government in Abuja on Friday,

Olusanya noted that the company would invest an initial capital of $300 million in the project and would cover 2,450 hectares of land.

Olusanya added that as part of the company’s social corporate responsibility, it would build schools and recreational facilities among others. amenities and lauded the state government for giving the company the opportunity to add value to the industrial drive of the present administration in the state as well address the economic problem of the state.

Earlier at the signing of the Memorandum of Understanding (MoU) with Flour Mills Nigeria, the state Governor, Abdullahi Sule said the agreement was in fulfilment of his earlier promise to industrialized the state two years ago.

According to governor Sule’, the sugar company would stimulate economic activities, generate employment and bring development to the state stressing that the state government would ensure that majority of the workforce in the company are from the state.

While announcing that land for the project has already been provided, Sule added that Nasarawa would collaborate with the Federal Government and security agencies to ensure a smooth take-off of the company in the state.

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He tasked the company not to only engage on sugar production but to also venture into massive production of cassava to provide raw material in the same area for flour production.

On his part, Minister of Trade, Industry and Investment, Richard Adeniyi-Adebayo commended the Nasarawa State Governor for keying into the diversification drive of the federal government.

The minister called on other state governors to emulate Governor Sule in order to make the country self-sufficient, turn the country into an exporter of agricultural products.

The event which had in attendance Minister of Trade, Industry and Investment, Governors of Borno and Kwara States, Professor Umar Zulum, Abdurrahman Abdulrazak was also witnessed by National and State House of Assembly members, Commissioners among other government functionaries
from Nasarawa state

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