The Enugu state government has entered into a N40 billion partnership with Jelfah Nigeria Ltd to restore the long-abandoned Sunrise Flour Mills, located in Emene, near the state capital.
Governor Peter Mbah, who made the announcement on Tuesday, revealed that Jelfah would acquire a 60% equity stake in the project and invest N24 billion, with N22 billion allocated for revitalization efforts and N2 billion directly benefiting the state.
Speaking via his X account, @PNMbah, Mbah emphasized the importance of the deal in advancing the state’s economic agenda. “This partnership is a crucial step in revitalizing our moribund assets. Jelfah Nigeria Ltd, led by Chairman Moses Saromi, will transform Sunrise Flour Mills into a thriving business,” Mbah said.
The deal is part of a broader strategy to expand Enugu’s economy, targeting growth from $4.4 billion to $30 billion through private sector investment.
However, the agreement includes a Special Purpose Vehicle (SPV) to oversee the cultivation of 10,000 hectares of farmland, producing inputs such as cassava and grains for the mills.
“This agreement, along with our recent N100 billion deal to revive Enugu United Palm Products Limited, reaffirms our commitment to fostering a business-friendly environment and supporting investments that benefit the people of Enugu State,” Mbah added.
Governor Mbah thanked Jelfah Group and its chairman for their trust and partnership and encouraged other investors to choose Enugu as a promising destination for business.