NIGERIA – In actualisation of the federal government’s cassava transformation agenda and the cassava inclusion policy in bread flour, Flour Mills Plc has introduced a new product in the baking segment with the launch of Golden Penny Multi-purpose flour, a bread and baking flour, which is a combination of wheat flour and 10 per cent high quality cassava flour.

The new Golden Penny Multi-Purpose Flour will complement Flour Mills’ other baking flour products like Golden Penny Prime Flour, Golden Penny Confectionery Flour and Eagle Wheat Flour.

The launch of the new Golden Penny multi-purpose flour was performed by the Minister of Agriculture and Rural Development, Dr Akinwumi Adesina, with the support of members of the Association of Master Bakers and caterers of Nigeria, members of the Flour Millers association and industry stakeholders.

Speaking at the launch, the Minister of Agriculture and Rural Development, Dr. Adesina commended Flour Mills for keying into the federal government’s cassava transformation agenda, noting that this initiative will impact positively on the Nigerian economy by way of huge savings of about N22.4billion in foreign exchange, wealth creation for farmers, direct farm jobs of nearly 500,000 persons and an income generation of about N24 billion going to farmers.

On the processing side, this initiative is expected to create additional 1,500 jobs and is expected to create a value of over N800 billion in ten years.

Speaking at the occasion, the Group Managing Director of Flour Mills of Nigeria Plc., Mr. Paul Gbededo said the company, as the leader in the industry has significantly and strategically invested in some food and agro-allied value chains to align with government’s agricultural transformation agenda, create Group synergies, support and protect supply chains of our core food business and other downstream activities and ensure long term sustainability.

These key crops include sugar cane, cassava, sorghum, maize, palm fruits and rice.

He further stated that a good instance of this group synergy is the acquisition of Thai Farms in Ogun State by Flour Mills of Nigeria, for the cultivation and production of cassava tubers.

Thai Farms has the capacity to process 300 tonnes of cassava flour per day to produce 75 tonnes of high quality cassava flour.

We also have 10,000 hectares of farmland at our Kaboji Farms, Niger State and 5,000 hectares in Shao, Kwara State among others for the cultivation of cassava to supplement, Thai Farms. Cassava and other value chain crops provide critical raw materials for our food business.

Gbededo said that FMN continues to be one of the largest promoters of government’s agricultural transformation agenda with on-going investments in agro allied initiatives that support our concept of integrated food basket of products with home grown produce, that is designed to maximise local content in our final products as we remain committed to our policy of being involved at all stages of the food value chain from “Farm to Table”.

He further said Flour Mills is pleased to introduce Golden Penny Multi-purpose Flour because of the tremendous socio-economic benefits its holds for economic growth, self-reliance, employment generation and food security.

He recommended the product to bakers and enjoined them to the new Golden Penny Multi-purpose flour as its performance has been proven through various baking tests.

According to him, “this product has undergone several baking tests conducted in conjunction with your members and has performed very well on all parameters like water absorption, oven spring, proofing time, yield and bread appearance”.

Welcoming the new Golden Penny Multi-Purpose flour, the members of the Association of Master Bakers and Caterers of Nigeria commended Flour Mills of Nigeria and the Federal Ministry of Agriculture for providing bakers a choice in the baking products category. 

November 26, 2014;