NIGERIA – Flour Mills of Nigeria (FMN), one of Nigeria’s leading foods and agro-allied groups has marked a significant milestone, celebrating 60 years of feeding the nation of Nigeria and the region at large.
The company’s journey since its incorporation on the 29th of September 1960 has been challenging yet rewarding as indicated by the company in its social media post.
Starting as a limited liability company and pioneer wheat miller in Nigeria, the group has evolved to become one of the biggest brands in the foods and agro-allied industry in Africa with its iconic Golden Penny products.
“FMN was founded exactly 60 years ago today, and since then, we have remained at the heart of this great Nation, enriching lives and empowering communities, just as our iconic Golden Penny products have been a part of the lives of millions of Nigerian families, providing nourishment daily,” stated the company.
With congratulatory messages trickling on all its social media platforms, the group salutes all its business partners, investors, regulators, distributors, esteemed customers and consumers.
“And especially our talented, passionate and most resourceful workforce that has continued to make sacrifices in ensuring that FMN remains on a winning path and fulfil our purpose of Feeding the Nation, Everyday,” highlighted the company.
FMN converted to a public company in November, 1978 with beneficial interest in the company’s equity held by Nigerian and Overseas shareholders.
Its foreign shareholders include Excelsior Shipping Company Limited with 62.95% shareholdings and the balance held by over 75,000 individuals and institutional investors.
“FMN was founded exactly 60 years ago today, and since then, we have remained at the heart of this great Nation, enriching lives and empowering communities, just as our iconic Golden Penny products have been a part of the lives of millions of Nigerian families, providing nourishment daily.”Flour Mills of Nigeria
Its first mill to be commissioned at Apapa in Nigeria had a grinding capacity of 500 metric tonnes of wheat per day.
Today, the Apapa milling complex has a rated capacity of over 8,000 metric tons per day making it one of the largest single site mills in the world.
The group’s strategic diversification into agribusiness began in 1978 with the investment in a 10,000ha Kaboji Farm in Niger State.
Since then, it has made substantial investments in the primary processing of locally grown soybean, palm fruit, cassava, maize, sugar cane, sorghum, and the storage, aggregation and distribution of locally sourced grains.
The company also invested in the same year 1978 in BAGCO, a pace setter in woven polypropylene sack manufacturing.
With its two giant plants at Lagos and Kano, BAGCO supplies to many industrial and agro-allied companies in Nigeria in the packaging of flour, cement, grains, salt, detergent, fertilizer, merchandise, farm harvests, shopping, etc.
Another significant milestone was the company’s foray into Cement with the introduction of the Burham Cement brand, operation of a cement terminal at Apapa and investment in the United Cement Manufacturing Co. Ltd. (UNICEM) Calabar, in 2002.
In 2015, a strategic decision was made to dispose of the investment in UNICEM.
The group’s operations can be categorized into four major sectors of Food, Sugar, Agro-allied, and Support services.
It undertakes its operations through its subsidiaries Apapa Bulk Terminal, Agri Palm, Northern Nigerian Flour Mills, Premier Feed Mills, Golden Transport Division, Agro Allied Farms Sunti, Agri Estate, FMN Agro Allied Ventures Nigeria, Eagle Flour, Bagco, Golden Agri Inputs and Golden Fertilizer.
Its main’s brand “Golden Penny” basket of foods includes products such as semovita, masavita, pasta, noodles, refined sugar, margarine, vegetable oils, and a range of snacks and breakfast cereals. Ferilizer is also sold under this brand name.
FMN sells its animal feed and nutrition products under the brand name Top Feed.
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