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Friday, September 20, 2013

Flour Mills invest in large-scale commercial agriculture

Anthony Nwakaegho/NaijaAgroNet

In line with the Agricultural Transformation Agenda of President Goodluck Jonathan’s administration the nation’s agricultural sector received a boost from the Flour Mills of Nigeria Plc, as the company began investing in large-scale commercial farming of different crops across the country.

The Group Managing Director, Flour Mills Mr Paul Gbededo made the disclosure at the company’s 53rd annual general meeting, and said that as the country is diversifying away from oil, agriculture is now seen as the next frontier to grow the nation’s economy.

NaijaAgroNet gathered that the company in keeping with its focus on vertical integration of agro –allied business has invested in the cultivation of 2,000 hectares of maize, 1,000 hectares of soybean, 1,000 hectares of cassava and 50 hectares of sorghum in its 10,000 hectares Kaboji Farm near Kontagora, Niger State.

Gbededo said that the company’s achievement during the financial year ended March 31, 2013, includes the acquisitions of Thai Farm International Company Ltd, a leading cassava flour processing company, and ROM Oil Mills, an integrated edible oil processing company.

According to him, Thai Farm in Ososa, Ogun State has proven to be one of the two leading suppliers of high quality cassava flour (HQCF) to flour millers in Nigeria under the cassava flour inclusion initiative of the Federal Government.

He explained that the company with its focus on joint venture possibilities, acquisitions, mergers and take-over is planning to  engage reputable partners to grow and consolidate on its agro-allied business in line with Federal Government‘s agricultural and industrial transformation agenda.

“We are growing our food business. We are also expanding into the agro-allied space and we think we will be able to add more value to the country. We are still restructuring. We are consolidating. We are looking for areas to create and add value, not only to our stakeholders, but also the Nigerian populace,” he said.

The Company Secretary and Director, Olalekan Saliu, said the company effort is in the direction of food security in the country by growing soya beans, cassava, sorghum and sugar cane on the 17,000 hectares of land in Sunti, Niger State.
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