The Nasarawa State Government has signed a Memorandum of Understanding (MoU) with Flour Mills Nigeria (FMN) to establish sugar company in Toto Local Government Area (LGA) of the state.
The signing of the agreement took place on Friday at the Nasarawa State Government Lodge, Asokoro, Abuja. Speaking at the signing of the agreement, Gov. Abdullahi Sule of Nasarawa State said the MoU was in fulfilment of the cardinal objectives of his administration as captured in the Nasarawa State Economic Development Strategies (NEDS).
The governor explained that a sugar company would stimulate economic activities, generate employment and bring development to the state. Sule explained that the state government would ensure that most of those that would work in the company are from the state. He said the government had already provided land for the project and would collaborate with the Federal Government and security agencies to ensure smooth operation of the company.
Sule added that the government wanted the company to also engage in massive production of cassava in the same area for flour production. Also speaking, Omoboyede Olusanya, Group Managing Director (GMD)/Chief Executive Officer (CEO) of FMN, lauded the state government for giving the company the opportunity to help to address economic problem in the state. The GMD explained that the company would invest an initial $300 million in the project and would cover 2,450 acres of land. The CEO of FMN said the sugar company would stimulate economic activities in the state and provide employment opportunity to the people.
Olusanya added that as part of its corporate social responsibility, the company would build schools and recreational facilities among others. On his part, Richard Adeniyi-Adebayo, Minister of Trade, Industry and Investment, commended the Nasarawa State Governor for keying into the Federal Government’s efforts to diversify the economy.
He therefore called on the governors of other states to emulate Gov. Sule in order to make the country self sufficient and even export agricultural products. The event had in attendance Richard Adeniyi-Adebayo, Minister of Trade, Industry and Investment, Governor of Borno, Prof. Umara Zulum, and Kwara Gov. Abdurraman Abdulrazak. Others are National and State House of Assembly members and Commissioners from Nasarawa State among other government functionaries.
