Sheriff Balogun in Abeokuta
Vice President Yemi Osinbajo yesterday disclosed that the federal government has resolved to work with and support private sector players who demonstrate commitment to value addition and job creation in the economy.
The Vice President who visited the ongoing development of the Honeywell Foods and Agro-allied Industrial Complex in Sagamu, Ogun State, commended Honeywell’s patriotic efforts at reducing food imports.
He added that the company in its new Agro-allied industry would be creating employment in the all-important food, manufacturing and agriculture sectors of the economy.
Shortly after the tour of the factory, Osinbajo with Chairman, Honeywell Flour Mills Plc, Dr. Oba Otudeko, unveiled the company’s initiative to accelerate Nigeria’s quest for self-sufficiency in food production.
Otudeko in his message, said the massive project commenced in 2014, saying it would see Honeywell invest about N64 billion to develop a world class integrated facility.
He said with the investment, economies of scale and scope will be leveraged to drive down cost and provide Nigerians with more affordable food products.
He disclosed that “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.
He therefore, said that Honeywell’s Foods & Agro-allied Complex would support Nigeria’s progress towards self-sufficiency in food production.
He added: “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.
“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 food products in the Flour, Pasta, Noodles, Wheat Meal and Semolina categories,” he said.