The newly commissioned mill, equipped with Aybakar’s latest high-efficiency machinery, is designed to boost local wheat processing capacity and improve supply chain resilience.
The company’s unaudited results released to the Nigerian Exchange Ltd. (NGX) show gross profit climbed 56 %, while profit before tax surged 101 %.
The deal, signed on November 4, covers the construction of factory buildings, warehouses, and supporting infrastructure for the project.
The government has imposed a ban on maize exports to curb further depletion of national stocks.
Farmers say that there are more than 1 million metric tons of paddy rice lying unsold in warehouses and on farms nationwide