Agricultural Development: Honeywell Group to Inject N64 billion for Self-Sufficiency

Agricultural Development: Honeywell Group to Inject N64 billion for Self-Sufficiency

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Agricultural Development: Honeywell Group to Inject N64 billion for Self-Sufficiency

Nigeria’s Vice President, Professor Yemi Osinbajo has reiterated the commitment of Federal Government to support private sector players who develop keen interest in value addition and job creation in the economy, most especially in the area of agriculture.
He disclosed this recently when he paid a visit to Honeywell Flour’s Integrated Food Complex in Sagamu, Ogun State.
During the visit of the Vice-President, Honeywell Group revealed its intention of supporting the Federal Government of Nigeria in their effort to boost agricultural sector as part of diversification policy of APC led government. The company plans to do this by investing about N64 billion in food processing.
According to the company, it is committing the funds toward the establishment of Foods & Agro-allied Complex to support Nigeria’s progress towards self-sufficiency in food production and also to boost agriculture as a means of income generation for the country.
Osinbajo seized the opportunity of the visit to assess the ongoing project of the Honeywell Foods & Agro-allied Industrial Complex in Sagamu, Ogun State where the Chairman of Honeywell Flour Mills Plc: Dr. Oba Otudeko shed light on the company’s plan to jazz up food production in Nigeria through the investment of 64 billion naira..
It is gathered that the N64 billion would be used to develop a world class integrated facility that would go a long way in driving down costs and provide Nigerians with more affordable food products. In order to achieve this lofty plan, the company has commenced work on the first three phases of the complex: the construction of a pasta plant; a sorghum flour mill and an animal feed mill.
After detailed assessment on the site, the Vice President gave kudos to Honeywell’s ceaseless efforts towards reducing food imports and creating employment in the all-important Food Manufacturing and Agriculture sectors of the economy.
It should be noted that Honeywell Flour Mills Plc. is a member of the Honeywell Group and listed on the Nigeria Stock Exchange (NSE). It has the credit of producing quality food products in the Flour, Pasta, Noodles, Wheat Meal and Semolina categories.

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