The Group Managing Director/Chief Executive Officer of Flour Mills of Nigeria Plc, Nigeria’s leading food business and Agro-allied group, and a key player within the FMCG industry, Boye Olusanya,in this interview, provides insights on the Group’s sustainability approach through local content development in Nigeria.What is your take sir on FMN’s performance in the last financial year?
Recently, FMN acquired a 71.69% stake in Honeywell Flour Mills. What are the key drivers of this strategic business move? Our sustainability agenda is themed ‘Localization for Sustainability. There is a need to localize our sustainability plan in such a way that our supply chains across all levels will be self-sustaining and resilient enough to withstand the emerging volatile socio-economic environment. In our role as an Enabler and sustainable provider, FMN is greatly committed to increasing our local content.
Congratulations on the recent launch of Sunti Brown Sugar. Would you say this achievement indicates that your investments in local content promotion and backward integration are yielding the desired results?