Flour Mills Of Nigeria Posts 2019/2020 Sustainability Report

Flour Mills of Nigeria Plc, MD/CEO, Omoboyede Oluwasanya has revealed that FMN has deeply invested in the development of a unique self-sustaining ecosystem that ensures its business properly positioned to navigate existing and emerging macroeconomic conditions.

Brandnewsday reports that the Group MD/CEO made this known during the release of the company’s 2019/2020 sustainability report at the Nigerian Stock Exchange (NSE), titled ‘Feeding the Nation and Enriching lives through Sustainable Operations,’, he said as one of the largest and most diverse foods and agro-allied groups in Nigeria, “we understand the importance of collaborating across the food value chain for mutual benefit.

“As such, we have over the years invested heavily in the development of a unique self-sustaining ecosystem that ensures our business is properly positioned to navigate existing and emerging macroeconomic conditions while guaranteeing sustainable growth for the group in the future.

“From our suppliers, including several small-scale farmers who grow our raw materials, to our distributors.

Flour Mills Of Nigeria MD added that the report detailed their progress in each of their focus areas, as well as their commitment to contribute to global efforts to combat climate change and promote a more prosperous and inclusive future. Omoboyede Olusanya said the Report was developed with input from stakeholders and in line with the Global Reporting Initiative (GRI).

Flour Mills Of Nigeria Posts 2019/2020 Sustainability Report

“The data in this Report cover activities and initiatives that occurred within our owned and managed operational facilities in Nigeria during our fiscal year – 1st April, 2019 to 31st March 2020 – unless otherwise stated.

“This Report has been prepared with guidance from the 2016 Global Reporting Initiative (GRI) Standards and adopts the GRI-Referenced claim.

He added that “This report provides insight into our commitment as a business to continue to engage in the most sustainable practices which directly impacts our environment and social performance.

“We are incredibly happy with what we have achieved, and we are ready to increase our efforts in creating a resilient future for the Nation. Olusanya said though the period under review – 2019 through our financial year-end, March 2020 – came with its peculiar challenges, the biggest being the global pandemic caused by the novel Coronavirus (COVID-19).

READ: Flour Mills Of Nigeria PLC Supports FG With ₦1 Billion To Fight COVID-19

“We have remained focused on the business of enriching lives. As part of our critical response plan for the pandemic, we supported the Nigerian Government through the Nigerian Private Sector Coalition Against Coronavirus (CACOVID), by donating the sum of N1 billion to the Central Bank of Nigeria (CBN). “

‘Moving further he added that ‘In addition to the cash donation, we also procured $1.5million worth of medical equipment including COVID-19 test kits, ventilators, personal protective gear (N95 masks, coveralls, protective gloves, and protective eyewear to aid the courageous healthcare professionals on the front line.

”We also provided essential food products as part of relief efforts to provide support to the most vulnerable in society. Over N400million worth of our Golden Penny food products were donated to several state governments across the country.

“To ensure that we continue to cater to millions of Nigerian families who depend on us for nourishment, especially during the period of the outbreak, we instituted a Strategic Business Continuity Framework and a Crisis Management Plan to ensure that our supply chains and production processes were not hindered while providing safe and healthy working conditions for our employees.

The highlights of the report include: FMN’s multifaceted stakeholder engagement strategy which helps the group build strong relationships with mapped stakeholders as well as better understand and address key concerns and expectations.

• FMN’s Backward Integration program acts as a strategic imperative to create value in our supply chain and reduce dependence on imported raw materials.
• FMN’s commitment to adding value to society through various programmes and initiatives within our operations and operating areas nationwide.
• FMN’s leadership structures and procedures help to maintain strong corporate governance across the business and translate strategy into action.
• FMN’s responsibility towards the environment including our operational ecosystem which covers sustainable packaging solutions, waste management, and energy efficiency.
• Our trade sustainability strategy is based on an empowered workforce which we achieved through diversity, inclusion, employee engagement, workplace protections, and adherence to all labour practices.