Flour Mills of Nigeria (FMN) Plc, has restated its commitment in driving food self-sufficiency in the country.
This was contained in its 2021/2022 Sustainability Report with the title: ‘Building a Sustainable Future, Scaling Impact,’ which provides viable insights on how the Group has been impactfully and transformatively driving food self-sufficiency in Nigeria while developing local content.
The Group’s latest report described its performance in relation to stated sustainability goals for the 2021/22 reporting period. FMN established its sustainability activities and commitments utilising four key strategic pillars called FMN ‘Tropos’; Governance, Social, Financial, and Environmental factors.
“Over the last three years, the Group has recorded increases in its economic value generated, distributed, and retained, an attribute that increased from N706.7 billion in full year 2021 to N1.108 trillion in full year 2022.
“The Group’s investment in developing local content through procurement and backward integration continues to increase. During the reporting year, the total amount paid to suppliers rose from N552.5 billion in 2021 to N649.9 billion.”
According to the report, the Group 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, six 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 our flour products, 97 per cent of FMN’s customers were satisfied with the quality of the products, with 80 per cent rating the products either as excellent or as very good. FMN did not receive any fine or penalty for noncompliance with established product safety and quality regulations and standards agency within the reporting year.
“There was the continuous expansion of operational sites and capacity to support the development of Nigeria’s food and agro-allied sector and foster shared value creation.”
Speaking on the report, Group’s managing director of FMN, 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.”
