Lagos, Nigeria; November 09, 2019.
In a move that further reiterates its commitment to the development of agriculture
and industry in Nigeria, FMN, one of the leading foods and agro-allied groups in
Nigeria and owners of the iconic Golden Penny brand; today announced its
partnership with the Sokoto State government for a N2 billion Graduate Farmer
Scheme.
As part of the partnership, Sokoto State will establish a N2 billion rolling loan
targeted at 1000 graduates from the state who will participate in a pilot farming and
products marketing scheme. FMN will support the project by providing specialized
agronomy and input support in the areas of seed development and commodity
aggregation.
Speaking during a courtesy call to FMN head office in Apapa, His Excellency, Aminu
Waziri Tambuwal, the Governor of Sokoto State revealed that the revolving loan
scheme would be expected to cultivate value-chain crops of soybean, wheat, sesame
and other export commodities such as Gum Arabic, hibiscus and garlic on a 500
hectares pieces of land in various parts of the state.
“Once the graduates are brought on board, we envisage that the traditional farmers
will also key into the scheme and expand their scope and relevance in the food
production process in the state.” He said.
The Chairman of FMN, John Coumantaros, disclosed that FMN was excited at the
prospects of the partnership, which he believes will strengthen the existing
relationship with Sokoto State. Amongst other things, FMN will bring its expertise to
bear in the areas of wheat seed multiplication, offtake and extension services,
fertilizer blending and distribution and human capacity development.
Speaking at the meeting, John Coumantaros said: “We are pleased to partner with
Sokoto state on such a laudable project, and we happy to bring our wealth of
knowledge and expertise from executing similar projects in other agriculture-
focused states in the country.”
“Our strong belief that local agricultural production is the catalyst for Nigeria’s
industrial transformation is unwavering. I am delighted that we can work together
with Sokoto State to build a vibrant agriculture sector and continue to promote its
seamless integration with industry. In line with our purpose of feeding the nation,
everyday, we are positive that we will create value for farmers and stimulate
diversification in the industrial sector of Sokoto State and Nigeria at large.” He
added.
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About Flour Mills of Nigeria Plc
Incorporated in September 1960 and quoted on the Nigerian Stock Exchange since
1978, Flour Mills of Nigeria (FMN) Plc, owners of the iconic Golden Penny Food brand
is one of Nigeria’s leading food and agro-allied companies. With a broad basket of
food products and robust pan-Nigerian production, distribution, and supply chain
network, FMN is a fully integrated and diversified food and agro-allied group.
FMN group strives in its purpose to “Feed the Nation, Everyday” through its five core
food value chains: Grains, Sweeteners, Oils and Fats, Proteins, and Starches. FMN
creates value along the entire food chain with its “farm-to-table” model by providing
inputs and know-how to farmers, aggregating and sourcing crops and raw materials
to supply its world-class processing facilities across Nigeria, and distributing its
innovative food brands to its customers.
More information can be found at www.fmnplc.com
Press Release