The Nasarawa State Government has signed a Memorandum of Understanding with Flour Mills Nigeria to establish a sugar company in Toto Local Government Area 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, Governor Abdullahi Sule of Nasarawa State said the MoU was in fulfillment of the cardinal objectives of his administration as captured in the Nasarawa State Economic Development Strategies.
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/Chief Executive Officer of FMN, lauded the state government for giving the company the opportunity to help to address economic problems in the state.
Olusanya explained that the company would invest an initial $300 million in the project and would cover 20,450 acres of land.
The CEO of FMN said the sugar company would stimulate economic activities in the state and provide employment opportunities 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, the Minister of Trade, Industry and Investment, Richard Adeniyi Adebayo, commended the Nasarawa State governor for keying into the federal government’s efforts to diversify the economy.
Adebayo called on the governors of other states to emulate Governor Sule in order to make the country self-sufficient and even export agricultural products.
The event also had in attendance the Governor of Borno State, Prof. Umara Zulum; and Kwara State Governor, Abdurraman Abdulrazak.
Also in attendance were national and state assembly members and commissioners from Nasarawa State, among other government functionaries.
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