The Enugu State Government has signed a landmark N40 billion agreement with Jelfah Nigeria Limited to revitalize the long-abandoned Sunrise Flour Mills in Emene.
The announcement was made by Governor Peter Mbah in a statement posted on his official X (formerly Twitter) account on Tuesday.
In the deal, Jelfah Nigeria Limited, led by Chairman Moses Saromi, will acquire a 60% equity stake in the mills, with an investment of N24 billion—N22 billion allocated for the revitalization of the facility and N2 billion directly benefiting the state.
“Today, we took another decisive step towards revitalising our moribund assets. We signed a landmark N40bn deal with Jelfah Nigeria Ltd, led by the chairman, Moses Saromi, to revitalise the long-abandoned Sunrise Flour Mills at Emene.
“This significant partnership will see Jelfah acquiring a 60% equity stake and investing N24bn in the mills – N22bn for the revitalisation and N2bn benefiting the state directly,” the statement read in part.
The statement also highlighted that the agreement with Jelfah Nigeria Ltd. includes the establishment of a Special Purpose Vehicle (SPV) that will manage 10,000 hectares of farmland dedicated to cultivating key inputs for the flour mills, such as cassava and grains.
It further emphasized that this partnership, coming on the heels of a N100 billion deal earlier this year to revive Enugu United Palm Products Limited, reaffirms the government’s commitment to boosting Enugu’s economy from $4.4 billion to $30 billion through strategic private sector investment.
What you should know
Over the past months, the Enugu State Government has entered into multiple strategic partnerships aimed at revitalizing the agricultural sector and boosting the state’s economy.
In addition to the N40 billion agreement with Jelfah Nigeria Limited to revitalize the long-abandoned Sunrise Flour Mills in Emene, the state launched the Enugu United Palm Products Limited (EUPPL) revitalization projesct on September 13.
This N100 billion investment, in partnership with Pragmatic Palms Limited, aims to enhance the state’s agricultural output by creating 3,500 jobs, restoring 20,000 hectares of palm plantations, and establishing oil mills with refining capacities.
Also in September, the state government partnered with a Danish company to initiate a tractor assembly plant in Enugu, eliminating the need for machinery imports. The deal aims to assemble 300 tractors by the end of 2024, with a target of reaching 1,000 tractors the following year.
In August, Governor Peter Mbah announced the distribution of N4.6 billion worth of agricultural inputs and MSME grants to support farmers, communities, and IT startups across Enugu State. The initiative, designed to bolster food security, agro-industrialization, and small businesses, included providing 12,000 farmers with fertilizer, distributing 51 power tillers, and supplying various agricultural inputs to 1,251 beneficiaries across all 17 local government areas.
