Flour Mills of Nigeria (FMN) has emerged as the only private company to meet all conditions and perform optimally in the federal government's silo concession revitalisation program, aimed at combating food wastage and achieving food self-sufficiency in Nigeria. The revitalisation program by the Minister of Agriculture and Food Security, Senator Abubakar Kyari, is a transformational project in line with the 2017 silos concession project by the FG through the Infrastructure Concession Regulatory Commission (ICRC).
The program conceded about 22 out of 33 silo complexes across the country to the private sector, to ensure grain availability and affordability nationwide.
Kyari said, "out of the 17 silo complexes conceded to five private companies, only Flour Mills of Nigeria, which operates three silo complexes under three separate Special Purpose Vehicles (SPVs), has met all conditions and is performing optimally."
The company's foray into the Agricultural sector started in 1978, with the acquisition of a 10,000-hectare farm in Kaboji, Niger state, as part of an investment and expansion strategy designed to create value in the Sugar supply chain and reduce the reliance on imported raw materials.
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Since then, FMN has made substantial investments in the local cultivation of various crops like soybeans, palm fruits, cassava, wheat, maize, sugar cane, sorghum, and the storage, aggregation, and distribution of locally sourced grains.Speaking on FMN's over six decades of unwavering commitment to feeding and enriching the Lives of millions of people every day, the Group CEO, FMN, Boye Olusanya, said.
"FMN is more than a Company to Nigeria but also a strong ally in growth and development. For over six decades, the Group has been a source of livelihood for millions of Nigerian families by providing both direct and indirect employment.
And more than any other business in the country, we have guarded our national heritage with trust, ensuring that our activities are sustainable for the country, the environment, and most importantly, for the people.
He stated "Flour Mills of Nigeria exemplifies the significant potential of strategic alignment between major private sector actors and national economic policy. Its consistent, long-term investments in backward integration, import substitution, and farmer empowerment demonstrate a deep commitment to operating in lockstep with Nigeria's development aspirations.
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"FMN remains a committed ally and partner for the federal government and the Ministry of Agriculture and Food Security under the leadership of Senator Abubakar Kyari in his transformative projects towards driving food self-sufficiency in Nigeria."
Incorporated on the 29th of September 1960, as a limited liability company and pioneer wheat miller in Nigeria, Flour Mills of Nigeria (FMN) started out on a journey that has seen the company evolved into what is now one of the biggest brands in the food and agro-allied industry in Africa.
