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Nigeria eyes Africa's 11m metric tons of sugar demand

Nigeria eyes Africa's 11m metric tons of sugar demand
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Insecurity: Protect our investment, Flour Mills tells State Goverments

FLOUR Mills of Nigeria, FMN, weekend, called on state governments to do all they could to ensure adequate protection of its investments from all forms of insecurity, in order to ensure increased investments nationwide. ....

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Flour Mills invests N65bn in sugar dev't

By
Mon Apr 26 2021
Flour Mills of Nigeria PLC says it has invested N65 billion in its new Sugar Mill being developed on a 3000 hectares of land in Suntai, Niger State.
It has also spent $200 million upgrading the sugar refinery in Apapa, Lagos.
The Deputy Chief Operation Officer, Agro Allied Division at FMN, Sadiq Usman, made the statement when he received the Executive Secretary of the National Sugar Development Commission (NSDC), Mr Zach Adedeji during a tour of Golden Sugar Company in Lagos recently.
“In terms of what our target is under the Backward Integration Programme, we are committed to 250,000 metric ton per annum between our two sites in Suntai and Nasarawa. We are also in the process of concluding arrangements to acquire another piece of land,” He stated. ....

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The 'sugar dispute' is Nigeria's Clash of the Titans - By: Hannatu Musawa

While, a monopoly in an economy could not be described as an animate being in the same way that mythical Medusa was, its menace of destructively consuming communities renders it an altered personification of a hydra-headed monster itself. And like most fabled Gorgon monsters, a valiant heroic Titan is needed to defeat it.
In our world, the recent ‘sugar’ dispute between Dangote Industries Limited and The BUA Group is a modern-day reverberating saga of how this different form of hydra-headed monster, is being confronted and gallantly defeated by one of Nigeria’s very own indigenous Titans.
A monopoly, in any form, is truly a hydra-headed monster, which has a penchant for destroying the Nigerian dream and does not prognosticate well for the economy primarily. There are several facets that render a monopoly a hydra-headed monster, least of which is that it creates a market concentration that likely results in higher commodity prices than in a more competitive market. ....

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Consumer goods index gains 6.16 points, driven by gains in Nestle, Flourmills and Honeywell shares

Market data for the week ended 9th April 2021 revealed that the Nigerian Equity space closed on a negative note, as the All-Share Index and the market capitalization depreciated by -0.66%, to close the week lower at 38,866.39 and N20.335 trillion respectively.
This bearish move has been linked to the conclusion of an impressive annual reporting season, as this leaves few incentives to bet on slightly higher returns from equities, with the rising yields in the fixed-income market.
Some industrial, mining, and consumer goods stocks delivered decent returns during the week
Despite the prevailing bearishness in the market which impacted the performance of some key consumer and industrial good stocks on NSE last week, shares of the following industrial, mining, and consumer goods companies delivered decent returns for their holders during the week. ....

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