Flour Mills Nigeria is to invest over $300m in the establishment of a sugar manufacturing company in Nasarawa State to stimulate economic activities and provide employment opportunities to its teaming citizens.
Speaking at the Memorandum of Understanding (MoU) signing ceremony with Flour Mills Nigeria, Governor Abdullahi Sule said the agreement was in fulfilment of his earlier promise to industrialise the state.
According to him, the sugar company would stimulate economic activities, generate employment and bring development to the state, stressing that the state government would ensure that the majority of the workforce in the company are from the state.
While announcing that land for the project has been provided for the project, Sule added that Nasarawa would collaborate with the federal government and security agencies to ensure the smooth take-off of the company.
He tasked the company not only to engage in sugar production but to also venture into massive production of cassava to provide raw materials for flour production.
Also speaking at the event, the managing director / 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, 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 its economic problems.
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 Nasarawa State to make the country self-sufficient and an exporter of agricultural products.