Flour Mills of Nigeria emerges as sole performer in federal silo concession program
out of the 17 silo complexes conceded to five private companies, only Flour Mills of Nigeria has met all conditions and is performing optimally.
NIGERIA – Flour Mills of Nigeria (FMN) has been recognized as the only private entity fully complying with and excelling in the Federal Government’s silo concession revitalization initiative, according to the Federal Ministry of Agriculture and Food Security.
This aim is to enforce compliance, improve operational efficiency, recover idle or misused facilities, and reduce Nigeria’s post-harvest losses, which are estimated at about US$10 billion per year.
The initiative, spearheaded by the Minister of Agriculture and Food Security, Senator Abubakar Kyari, builds upon the 2017 silos concession project administered by the Federal Government through the Infrastructure Concession Regulatory Commission (ICRC).
Under this framework, approximately 22 of the country’s 33 silo complexes were allocated to private sector operators.
According to a statement from the ministry’s Head of Information, Mr. Ezeaja Ikemefuna, Senator Kyari, 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.
Other companies, the review shows, have failed in various respects: lack of full operationalisation of silo facilities, defaults in payment obligations, failure to maintain infrastructure (including reports of vandalism and fence collapse in Ikorodu, Ogoja), and under-utilisation
Established on September 29, 1960, as a limited liability company and Nigeria’s pioneer wheat miller, FMN has evolved into one of Africa’s leading brands in the food and agro-allied industry. The company’s involvement in Nigeria’s agricultural sector dates back to 1978, when the company acquired a 10,000-hectare farm in Kaboji, Niger State.
This strategic move was part of an expansion plan to strengthen the sugar supply chain and diminish dependence on imported raw materials. Over the years, FMN has invested substantially in the local cultivation of crops such as soybeans, palm fruits, cassava, wheat, maize, sugar cane, and sorghum.
These efforts extend to the storage, aggregation, and distribution of domestically sourced grains, fostering a robust agro-allied ecosystem.
Reflecting on the company’s enduring role, FMN Group CEO Mr. Boye Olusanya stated that FMN is more than a company to Nigeria but also a strong ally in growth and development.
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,” Olusanya stated.
Mr. Olusanya further emphasized FMN’s alignment with national priorities, highlighting its long-term commitments to backward integration, import substitution, and farmer empowerment as exemplars of private-public synergy.
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