Backward Integration

FMN PLC has invested more than N150 billion over the past ten years to execute its core business strategy to aid the agricultural sector. This investment has been made primarily in Agriculture and Infrastructure.

Volatile commodity prices arising from unpredictable changes in global supply and demand, exchange rate fluctuations and punitive tariffs and import barriers, has made our reliance on imported raw materials risky, expensive and unsustainable. The need to create value further back in the supply chain and reduce dependence on imported raw material has been identified as a strategic imperative for our Group in the years ahead. The investment of the next N150 billion will, therefore, focus on a strategy of backward integration to maintain growth and sustained profitability.

Raw materials will be produced locally wherever possible to ensure that good quality fair value products are developed through the full supply chain from growing to final consumer consumption – from farm to fork.

Feeding the Nation