Flour Mills of Nigeria pledges cooperation with govt, shareholders

The management of Flour Mills of Nigeria (FMN) Plc, has reaffirmed its commitment to the Federal Government’s Nigerian Sugar Master Plan (NSMP) and shareholders at large.
The Deputy Chief Operating Officer, Agro-Allied Division/Director Backward Integration Program (FMN), Mr. Sadiq Usman, stated this after hosting the management team of the NSDC, led by its new Executive Secretary, Mr Zacch Adedeji.
Usman, while speaking to newsmen refuted rumour, making the rounds that its subsidiary, Golden Penny Sugar, is at war with some operators in the market segment on the issue of pricing.
He stated the only ‘war’ the company was presently fighting, is achieving its commitments to the government and shareholders.
According to him, while the company had released some statements on the alleged war, it had become imperative to reiterate the company’s position that its product pricing would only be determined by its raw material costs, and not because of any bitter price war.
“We had put out a statement to the general public, and we specifically put out a statement to the stock exchange. We are not engaged in a bitter war with any company at FMN. The only war we are presently engaged in is with ourselves, which is to achieve our commitments to both the government and our shareholders,” he added.
Sodiq also noted that as a publicly-listed company that had been around since 1978, the company would never be involved in any ‘business of collusion’, aimed at shortchanging its teeming customers.E
Executive Secretary of the National Sugar Development Council (NSDC), Mr. Zacch Adedeji, after touring the state-of-the-art facility at the sugar refinery company, reiterated the Federal Government’s commitment to fully implement the Sugar Masterplan.
While speaking to newsmen, he said: “The sugar industry presents to us the opportunity of a direct labour of 110,000 when we are in full gear of meeting 1.7million tonnes per annum of local demand. That is why the FG is fully committed to implementing the Nigeria Sugar Masterplan.
“We’ll do it not because we just have to do it, but because that is one of those things we have to do to solve the problem of unemployment in the country.
He further noted that due to the high unemployment figures, the only way to solve this is to give the sugar industry the much-needed attention.
“We are, therefore, here to implement the masterplan, so as to create jobs and ensure that investors get returns on their investments and there is prosperity for us all.” The Nation.

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