The private sector is working hard to partner the government in the desperate effort to solve the nagging issue of food insecurity in the country. One of the foremost business leaders in the food sector, BUA Foods Plc, has said it will expand its wheat flour milling capacity to 2.5m MTpa.
This was contained in a notice to the Nigerian Exchange Limited (NGX). The company disclosed that it signed an agreement with IMAS, a Turkish flour milling equipment manufacturer, to build four state-of the-art wheat and flour milling factories with a cumulative milling capacity of 3200 tonnes per day.
According to the statement by the company, the move is part of BUA Foods’ strategic expansion plans into new markets since it’s debut on the Nigerian exchange (NGX).
The new factories are expected to provide enhanced manufacturing capacity and capabilities to deliver more high-quality products that will contribute towards addressing food challenges in Nigeria.
While this is seen as a business idea, which perhaps is the reason the company is communicating it to the stock exchange, it is also expected to bring relief to Nigerians who have had to pay more for foods using wheat flour as raw materials. The agreement was signed during a formal ceremony attended by Top Executives from BUA Foods and IMAS, underscoring BUA Foods’ commitment to sustaining growth, by expanding production capacities across all its business divisions.
Speaking at the signing ceremony, Abdul Samad Rabiu, Chairman, BUA Foods Plc, said, “This partnership with IMAS is a testament to our dedication to improving food security in Nigeria.
“These new factories will significantly boost our capacity to continue to produce high-quality flour products while helping to create additional job opportunities across the country.
“This investment is a step towards our target of increasing our share of the Nigerian flour market.
“The addition of four mills will enable us to produce high quality flour thereby offering us the flexibility to address various potential flour needs.”Also commenting, the representative from IMAS said “We at IMAS are happy to again contribute to BUA Foods expansion drive aimed at ensuring that more people in Africa have access to affordable and healthy food.”
