Flour Mills Nigeria is to invest over $300m in the establishment of a sugar manufacturing company in Nasarawa state to stimulate economic activities in the state and provide employment opportunities to the people of the state.
Speaking at the signing of a Memorandum of Understanding (MoU) with the Nasarawa government in Abuja, Friday, Managing Director (GMD)/ Chief Executive Officer of the company, Omoboyede Olusanya explained 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 corporate social responsibility, it would build schools and recreational facilities among other amenities. It also lauded the state government for giving the company the opportunity to add value to the industrial drive of the present administration, as well as 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 fulfillment 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 had 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.
He tasked the company not to only engage in 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, and a major 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, Abdurraman Abdulrazak was also witnessed by National and State House of Assembly members, Commissioners among other government functionaries from Nasarawa state.