Honeywell Plc said it is investing about N64 billion in food processing in support of governments economic divestment in the agric sector.
The company said it is committing the funds toward the establishment of Foods & Agro-allied Complex to support Nigeria’s progress towards self-sufficiency in food production
To further cement a partnership initiative in that direction, the Vice President Yemi Osinbajo last week visited Honeywell Flour’s Integrated Food Complex in Sagamu, Ogun State
During the visit Osinbajo, assessed the ongoing development of the Honeywell Foods & Agro-allied Industrial Complex in Sagamu, Ogun State where the Chairman of Honeywell Flour Mills Plc: Dr. Oba Otudeko unveiled the company’s transforming initiative to accelerate Nigeria’s quest for self-sufficiency in food production.
This massive project, for which construction activities commenced in 2014, will see Honeywell invest about N64 billion to develop a world class integrated facility where economies of scale and scope will be leveraged to drive down costs and provide Nigerians with more affordable food products.
The company has commenced work on the first three phases of the complex: initially with the construction of a pasta plant; being followed by a sorghum flour mill and an animal feed mill.
All factories will utilize local grains, tubers and oil seeds as raw materials to boost farming activities and agriculture in execution of Honeywell’s backward integration and import substitution strategy.
Following a detailed tour of the site, Osinbajo commended Honeywell’s patriotic efforts at reducing food imports and creating employment in the all-important Food Manufacturing and Agriculture sectors of the economy.
He reiterated the Federal Government’s resolve to work with and support private sector players who demonstrate commitment to value addition and job creation in the economy.
Honeywell Flour Mills Plc. is a member of the Honeywell Group and listed on the Nigeria Stock Exchange (NSE). It produces a range of well-loved f