Flour Mills of Nigeria(FMN) Plc has reiterated its commitment to Transformational impact by releasing 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.
While the report also disclosed its continuous expansion of operational sites and capacity to support the development of Nigeria’s food and agro-allied sector and foster shared value creation, its Responsible Farm-To-Table practices highlighting the group’s investment in product quality and process innovation were also included.
The group’s flour extraction performance is 78 per cent, which exceeds the global average of 76 per cent clearly reflecting FMN’s investment and corresponding progress on improved product quality and process innovation, according to the report.
Stating that the local content development is a key part of the group’s sustainability efforts as demonstrated in its deployment of innovation in driving localisation of wheat production, aggregating over 8,000 tonnes of wheat grain in 15 collection points across three Nigerian states, the report stressed that FMN has investment of about N3.5 billion on CSR projects, donations, and COVID-19 interventions between 2020 and 2021, representing 13.6% of the group’s Profit after Tax.
Commenting on the report, the group managing director, Mr. Boye Olusanya, 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.’’
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