Flour Mills of Nigeria Plc (FMN) has distinguished itself as the only private operator fully meeting the Federal Government’s conditions for the revitalization of silo complexes across the country, a move that underscores the firm’s growing role in advancing food security.
The Minister of Agriculture and Food Security, Senator Abubakar Kyari, disclosed this in Abuja while providing updates on the government’s silo concession initiative.
According to him, despite the concessioning of 17 silo complexes to five private companies under the Infrastructure Concession Regulatory Commission (ICRC) programme launched in 2017, only FMN has met all requirements and is performing optimally.
“Out of the 17 silo complexes conceded to five private companies, only Flour Mills of Nigeria, which operates three silo complexes under three separate Special Purpose Vehicles (SPVs), has met all conditions and is performing optimally,” Kyari said in a statement signed by the ministry’s Head of Information, Mr. Ezeaja Ikemefuna.
FMN’s achievement comes as part of its long-term agricultural strategy, dating back to 1978 when the group acquired a 10,000-hectare farm in Kaboji, Niger State, to drive backward integration in sugar and reduce import dependence.
Since then, FMN has broadened its footprint with large-scale investments in key crops including maize, wheat, soybeans, cassava, sugarcane, sorghum, and palm fruits, as well as grain storage, aggregation, and distribution.
Group Chief Executive Officer, Mr. Boye Olusanya, said the milestone reflects FMN’s enduring commitment to national growth.
“FMN is more than a company to Nigeria; it is a strong ally in growth and development,” he noted.
Olusanya added that the group’s activities remain deeply tied to sustainability and impact.
“For over six decades, the Group has been a source of livelihood for millions of Nigerian families by providing both direct and indirect employment. More than any other business in the country, we have guarded our national heritage with trust, ensuring that our activities are sustainable for the country, the environment, and, most importantly, for the people.”
Industry analysts say FMN’s record highlights the value of leveraging private sector efficiency to achieve public policy goals, particularly in curbing post-harvest losses and stabilising food supply.
Founded in 1960 as Nigeria’s pioneer wheat milling company, FMN has since evolved into a diversified food and agro-allied giant with its flagship brand, Golden Penny, becoming a household name across the country.
With its mission of “Feeding and Enriching Lives, Every Day,” FMN says it will continue to partner with the Federal Government to advance food self-sufficiency, empower local farmers, and strengthen the nation’s agricultural resilience.
