We use local content to reduce our dependence on foreign, imported raw materials” – FMN




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The Flour Mills of Nigeria (FMN) said on Saturday that it is using locally-sourced to develop and produce unique consumer products for local markets.

The Marketing Activity Manager, Golden Penny, Mr Babatunde Adenaike, made this known during the FMN Special Day at the 2021 Lagos International Trade Fair in Lagos.

The News Agency of Nigeria (NAN) reports that the fair, which began on Nov. 5 ends on Nov. 14. Its theme was “Connecting Businesses, Creating Value”.

Over 200,000 visitors were expected at the fair where about 1,500 exhibitors from 16 countries are participating.

Adenaike said: “Now, the local content inclusion is important because as a country, we are trying to reduce our dependence on foreign and imported raw materials.

“So, one of the things that we have been doing is investing heavily in what we call backward integration; We are investing heavily in farms, we have maize farms, which we are able to source raw for some of our animal feed factories among others.

“We continue to invest heavily in backward integration; we are also leading the discussion in increasing the width capacity of Nigeria, we have a farm in Swansea where we have an installed 750,000 metric tonne capacity milling for sugar cane.

“So, all these investments is to make sure that Nigeria is able to reduce its dependence on foreign raw and at the same time do more local content,” he said.

Mrs Toki Mabogunje, President, Lagos Chamber of Commerce and Industry (LCCI), wished the company well, said Flour Mills is an age-old brand that has come across a lot of generations.

“Flour Mills also for the Lagos Chamber of Commerce and Industries is an age-old partner, you have always supported us and been at our fairs and we are very grateful to you for supporting and promoting this special day at the fair.

“As I have gone through my own personal life, I have seen the brand grow and diversify and that is a wonderful thing to see. We have also seen your market grow and diversify inside and outside the country.

“As president of LCCI, I can only wish this brand very well, wish the company too very well,” she said.

The Chairman Trade Promotion Board, Mr Gabriel Idahosa, said that the Trade Fair was an effective platform that would give FMN the opportunity to enhance further knowledge of its products and value addition to the economy,

“This special day event is an effective platform that gives flower mills of Nigeria the most opportunity to enhance further knowledge of your products. And in fact your value addition to the economy.

“Your support over the years has contributed immensely to the sustenance of this project, which has added value to trade promotion, private sector and commerce for the past 35 years.

“We are optimistic that the crucial roles played by large enterprises like Flour Mills and other public and private sector players in building and supporting the economic to scale up the production and most needed investments, will be part of the benefits of this engagement with the trade fair.

“As we continue to count on your cooperation, I’m confident that the benefits of your participation will be remarkable, tangible, and much more long lasting for another 61 years at least,” he said.

(NAN)