- Flour Mills of Nigeria Plc plans to invest up to $1 billion over the next four years in an expansion and restructuring drive.
- The investment is a welcome boost to President Bola Tinubu’s reform efforts.
- Flour Mills will invest at least $500 million in its sugar operations in Niger state to scale production to more than 400,000 tons a year from the current 1000 tons.
Flour Mills of Nigeria expansion
Flour Mills of Nigeria Plc, the country’s biggest milling company, plans to invest up to $1 billion over the next four years in an expansion and restructuring drive after its majority shareholder offered to privatize it.
This significant funding will focus on boosting production capacity and exploring new markets across Africa while leveraging the African Continental Free Trade Area (AfCFTA). According to the company’s Chairman, John Coumantaros, this new funding is about doubling investment in Nigeria.
The investment is a …
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