Flour Mills of Nigeria Plc (FMN), in its newly released 2021/2022 Sustainability Report, titled ‘Building a Sustainable Future, Scaling Impact’, reiterated the drive of the company to drive food self-sufficiency in Nigeria while developing local content.
The Group’s latest report describes its performance in relation to stated sustainability goals for the 2021/22 reporting period as FMN established its sustainability activities and commitments utilising four key strategic pillars called FMN ‘Tropos’ – Governance, Social, Financial, and Environmental factors.
On the group’s Governance commitment, the firm said, it entrenched adherence to best practices and principles while on its social commitment, it was very mindful of the Group’s impact in the areas of diversity and inclusion, labour and working conditions, occupational health & safety, and customer health & safety.
“FMN’s Financial Commitments address the economic value created for local communities across Nigeria and progressively across the continent while the organisation’s environmental commitment highlights the Group activities in actively reducing the negative impacts of its operations on the environment,” the report noted.
Key environmental elements like Greenhouse gas (GHG) emissions, water consumption, land use ecological sensitivity, and Solid waste were duly analysed and reported.
Over the last 3 years, the Group has recorded increases in its economic value generated, distributed, and retained, an attribute that increased from N706.7 billion in FY 21 to N1.108 trillion in FY 22.
The Group’s investment in developing local content through procurement and backward integration continues to increase as during the reporting year, the total amount paid to suppliers rose from N552.5 billion in 2021 to N649.9 billion.
During the reporting year as well, FMN partnered with World Connect in funding the education and empowerment of students across different states in Nigeria. Various students received grants for a variety of entrepreneurship and vocational skills.
The group equally recycled 2,068 MT and 780 MT of packaging materials across its Morpack Lagos and Kano offices respectively and as a testament to its commitment to environmental compliance, 6 sites within the Group renewed their Environmental Audit Reports (EAR) during the financial year.
In a customer satisfaction survey carried out in FY 21/22 on the quality of its flour products, 97% of FMN’s customers were satisfied with the quality of the products, with 80% rating the products either as excellent or as very good.
The group through FMAN (Flour Milling Association of Nigeria) recorded a significant increase of 251% in the number of wheat farmers during the financial year, and a new record for the highest yield of wheat from a female farmer was also recorded.
Commenting on the report, the group’s managing director, Mr. Boye Olusanya, said: “Our consistency in developing the Group’s sustainability report is a testament to our commitment toward running a transparent and people driven business. As we create value for our stakeholders and investors, it has become a key imperative for now and in the future to deepen our commitment toward local content development as we understand that sustainable growth is driven by the principle of self-sufficiency and sustenance.”
Flour Mills of Nigeria Plc conducts its business operations in a way that guarantees the sustainability of the natural ecosystems while preserving them for the benefit of the present and future generations.
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