Lagos, Nigeria: 16thth August 2022
Background
Flour Mills of Nigeria Plc (FMN), Nigeria’s leading food and agro-allied group, providers of superior quality food products, and owners of the iconic food brand, ‘Golden Penny,’ has released its 2020/2021 Sustainability Report titled: “Nourishing Sustainably Today, for Tomorrow”. The report details the Group’s accomplishments in strengthening its commitment to sustainability. Key sustainability efforts were directed at improving the management of its Environmental, Economic, Social, and Governance (EESG) risks as well as, adopting intentional and consistent measures capable of meeting both its financial and sustainability goals.
Reports Highlight
- Continuous expansion of operational sites and capacity to support the development of Nigeria’s food and agro-allied sector and foster shared value creation.
- Responsible Farm-To-Table practices highlighting the Group’s investment in product quality and process innovation.
- The Group’s flour extraction performance is 78%, which exceeds the global average of 76% clearly reflecting FMN’s investment and corresponding progress on improved product quality and process innovation.
- Local content development is a key part of the Group’s sustainability efforts as demonstrated in its deployment of innovation in driving localization of wheat production, aggregating over 8,000 tonnes of wheat grain in 15 collection points across three (3) Nigerian states.
- Investment of about 3.5 billion Naira on CSR projects, donations, and COVID-19 interventions Between 2020 and 2021, representing 13.6% of the Group’s Profit after Tax.
- FMN attained 98% on its customer satisfaction survey within the FMCG industry in Nigeria.
- Driven by the commitment to control carbon footprint and improve energy efficiency of its operations, FMN installed heat recovery systems on some of its sites, saving 488,160GJ worth of energy during the reporting period.
- Through the YALWA Programme, the Group has invested over 200 million naira in the soybean and maize value chain and created about 10,000 new jobs in Kaduna State.
Commenting on the Report, Mr. Boye Olusanya, the Group Managing Director, said, “The publication of our sustainability efforts is a demonstration of our commitment towards embedding sustainability as a core business agenda. As one of the largest food and agro-allied businesses in Nigeria, we recognize the critical role we play in driving sustainable socio-economic development in Nigeria. This year’s theme reflects the remarkable strides we have recorded in our commitment towards responsible production and consumption as encapsulated in our purpose of “Feeding the Nation, Everyday’’.
Flour Mills of Nigeria Plc conducts its business operations in a way that maximizes the natural ecosystems while preserving it for the benefit of the present and future generations.
About Flour Mills of Nigeria Plc
Incorporated in September 1960 and quoted on the Nigerian Stock Exchange since 1978, Flour Mills of Nigeria (FMN) Plc, owners of the iconic Golden Penny Food brand is one of Nigeria’s leading food and Agro-allied companies. With a broad basket of food products and robust pan-Nigerian production, distribution, and supply chain network, FMN is a fully integrated and diversified food and Agro-allied group.
FMN group strives in its purpose of “Feeding the Nation, Everyday” through its five-core food value chains: Grains, Sweeteners, Oils and Fats, Proteins, and Starches. FMN creates value along the entire food chain with its “farm-to-table” model by providing inputs and know-how to farmers, aggregating and sourcing crops and raw materials to supply its world-class processing facilities across Nigeria, and distributing its innovative food brands to its customers.
More information can be found at www.fmnplc.com
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