Flour Mills of Nigeria becomes the only private operator to fully meet FG’s silo concession terms, advancing food security and reducing post-harvest loss
The sole private operator to fully meet the Federal Government’s requirements in the nationwide silo concession initiative is Flour Mills of Nigeria, affirming its leadership in Nigeria’s agro-industrial landscape.
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The announcement was made by the Minister of Agriculture and Food Security, Senator Abubakar Kyari, during a briefing in Abuja.
He noted that while five companies were awarded concessions for 17 silo complexes under the Infrastructure Concession Regulatory Commission (ICRC) programme, only Flour Mills of Nigeria has met all performance expectations.
Kyari revealed that FMN currently operates three silo complexes via separate Special Purpose Vehicles (SPVs) and is the only operator performing optimally under the scheme.
The government’s silo concession drive, initiated in 2017, was aimed at reducing post-harvest losses, stabilising prices, and ensuring consistent grain availability by engaging the private sector.
Of the 33 silo complexes nationwide, 22 were handed over to private entities.
FMN’s success represents another milestone in the company’s decades-long commitment to agriculture.
Since 1978, when it acquired a 10,000-hectare farm in Kaboji, Niger State, the company has invested heavily in backward integration to strengthen the country’s food value chains and reduce reliance on imports.
Its agricultural operations span across key crop cultivation, including maize, wheat, cassava, sorghum, soybeans, and sugarcane, as well as aggregation, storage, and distribution of local grains.
Speaking on the development, FMN’s Group CEO, Boye Olusanya, highlighted the company’s strategic alignment with Nigeria’s national development goals.
He described FMN as “a strong ally in growth and development,” emphasising the company’s sustainable approach to job creation, environmental responsibility, and local empowerment.
“Flour Mills of Nigeria is more than a company; it is a custodian of our national heritage,” he said. “For over 60 years, we have fed and enriched the lives of millions of Nigerians through responsible, inclusive business practices.”
Industry analysts suggest FMN’s performance underscores the potential of public-private collaboration in tackling national challenges such as food insecurity.
The firm’s track record in farmer support, import substitution, and local capacity development is often cited as a model for other players in the sector.
Founded in 1960, Flour Mills of Nigeria began as the country’s first wheat milling company and has grown into a major food and agro-allied conglomerate.
Its flagship brand, Golden Penny, remains a staple in households across the country, trusted for quality and affordability.
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FMN maintains its mission of “Feeding and Enriching Lives, Every Day,” while expanding its influence across critical sectors of Nigeria’s food supply chain.
Source: Read more at vanguardngr.com
