The Group Managing Director of Flour Mills of Nigeria (FMN) Plc, Paul Miyonmide Gbededo, has unveiled strategies that the company believes will double its productivity over the next five years.
Gbededo, who disclosed the plan during the company’s dealers’ forum and awards night that was recently held in Lagos, noted that the plans were put in place to help establish Flour Mills Nigeria as one of the leading businesses in the country.
The strategies basically entail working in hand in hand with its partners in trade and other important chain operators who form a vital part of the company towards accomplishing its main aim of “feeding the nation every day”, Gbedebo said.
Earlier on while speaking on the theme of the dealers’ forum “Break through: Partnering for Growth”, Gbedebo explained that the company is in a position where the set target is achievable because right now it has multi-billion naira investments and strong business relationship with its trade partners.
“We are determined to do business in order to double our business in the next five years. That has been our vision in FMN, even beyond that; we are leaders in any market that we choose to operate. We have the biggest mill in the world. We have the biggest pasta factory in the whole of Africa. We are the biggest feed miller in the whole of sub-Saharan Africa.
“So that is our thinking in business. We also think that we have not achieved the target yet in our business but we know that we cannot do it alone and we need the support of everybody in the family to achieve this laudable ambition.”
Recall that Nairametrics reported about the company’s recent issuance of N12 billion Commercial Paper (CP) which will be used to support the company’s short-term funding needs.
The company’s share price closed trading at N14 earlier today the Nigerian Stock Exchange.