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Flour Mills to Pump $1 Billion into Nigerian Economy, Eyes Pan-African Growth.√√√Newzspy.
Flour Mills to Pump $1 Billion into Nigerian Economy, Eyes Pan-African Growth.√√√Newzspy.
Flour Mills of Nigeria Plc, the country’s largest flour miller, is set to make a significant investment of up to $1 billion over the next four years as part of an ambitious plan to expand its operations and undergo major restructuring. This development comes on the heels of its majority shareholder’s decision to take the company private. Flour Mills’ investment will not only bolster its own long-term growth but also serve as a strong vote of confidence in the reform agenda of President Bola Tinubu, whose administration has been aggressively pursuing policies to stabilize the nation’s economy.
Chairman of Flour Mills, John Coumantaros, announced this major initiative during an interview on Tuesday, noting that the company’s investment is aimed at solidifying its commitment to Nigeria, even as other multinational corporations like Diageo Plc and Unilever Plc are scaling back their activities or exiting the West African market altogether. Since assuming office in May 2023, President Tinubu has enacted a series of bold reforms, including the floating of the naira and the removal of fuel subsidies, which are designed to attract investors, boost economic stability, and reverse years of fiscal mismanagement.
Expanding Production Capacity
Flour Mills plans to invest a substantial portion of the $1 billion, approximately $500 million, in expanding its sugar production operations in Niger State. The investment will increase the company’s annual sugar output from the current 100,000 tons to more than 400,000 tons. This aligns with Nigeria’s broader goals of increasing self-sufficiency in food production and reducing reliance on imports, particularly in critical sectors like agriculture and food processing.
In addition to sugar, Flour Mills will allocate $100 million to the construction of a cassava-processing facility. This new factory is part of a larger strategy to eliminate the need for importing cassava starch, a critical ingredient in various industries. The new plant is expected to help Nigeria capture a larger share of its domestic demand and further develop its agriculture value chain. Furthermore, Flour Mills will expand its breakfast cereal product line as part of its food processing operations.
Restructuring for Growth
Flour Mills is also undergoing an extensive internal reorganization. Following the offer by its majority shareholder, Excelsior Shipping Company Ltd., to buy out minority shareholders at 70 naira per share, the company aims to restructure its 22 operating units into five distinct companies. This strategic reorganization is designed to make the business more agile and attractive to external partners, both technical and financial.
“We want to be able to attract partners—technical and financial—to help us grow our sugar operations and food business,” Coumantaros said. “We have a lot of ambitious plans for investment and expansion.” The restructuring will allow Flour Mills to tap into specialized expertise, streamline operations, and optimize its capital base to achieve its long-term objectives.
Internally Sourced Funding
One of the key elements of Flour Mills’ strategy is that the majority of the $1 billion investment will be internally sourced, underscoring the company’s robust financial health. According to Coumantaros, the capital requirements for such an ambitious expansion are “very, very large.” However, he emphasized that while the company is ready to provide the bulk of the funding, it also recognizes the need for external support in the form of technical expertise and strategic partnerships to fully realize its growth ambitions.
“When you grow, you can’t do everything yourself,” Coumantaros remarked. “You need to invite experts, the best in the field, to really support you, assist you, and bring some of that technical expertise so we can grow more business, create more jobs here in Nigeria.”
Expanding Beyond Nigeria’s Borders
Flour Mills also has its sights set on expanding across the African continent, beginning with West Africa. The company plans to leverage the African Continental Free Trade Area (AfCFTA), which, once fully operational, will create the largest single market by area since the formation of the World Trade Organization. This presents a golden opportunity for the company to extend its reach beyond Nigeria and establish itself as a leading pan-African food business.
“With the inception of the AfCFTA, we believe strongly that we shouldn’t just be looking at the Nigerian market,” Coumantaros said. “Our dream is to have a pan-African food business headquartered in Nigeria. We’ll take advantage of the AfCFTA so that we can expand our footprint into those regions.”
Future Plans for Listing and Capitalization
Although Flour Mills is currently focused on restructuring and expanding, Coumantaros revealed that the company eventually plans to relist on the Nigerian Stock Exchange once it has repositioned itself. This could potentially include a dual listing, establishing Flour Mills as a major player not just in Nigeria but across the continent.
“It’s our aspiration that we come back and list in Nigeria, perhaps with a dual listing as a pan-African food business or a pan-African agro-allied business,” Coumantaros stated. “We do believe there’s a critical role for the Nigerian Stock Exchange to play in our future, but we need to reorganize, retool, recapitalize, and refocus so that we’re in the right position.”
A Boost to Nigeria’s Economic Reforms
Flour Mills’ substantial investment plans come at a crucial time for Nigeria, as President Tinubu’s government works to implement reforms aimed at pulling the country back from the brink of economic collapse. With businesses like Flour Mills choosing to deepen their investments in the country, it signals a renewed optimism in Nigeria’s economic potential and a validation of Tinubu’s reform efforts.
By ramping up production, expanding its product offerings, and looking to establish a pan-African presence, Flour Mills is positioning itself as not just a domestic leader in food production but a continental powerhouse. The company’s $1 billion investment marks a major step forward for both its own future and the future of Nigeria’s economy.
Source: Bloomberg
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THE BLOOD PRICE OF EDUCATION IN NIGERIA AND GLOBALLY
By Ohore Emmanuel Ufuoma
In the 1950s, Western Region made primary education free. It was a gift, not a transaction.
Children walked into classrooms without fear and without fees. Awolowo called it an investment in blood — the lifeblood of a nation’s future.
Chief Obafemi Awolowo once declared education “the blood of the Nigerian child.” Awolowo’s model was simple: free education = national blood = national strength. Today the equation has reversed: education = blood price. Blood is being spilled.
The numbers tell a story no government can ignore: Since the abduction of 276 girls from Chibok in April 2014, Nigeria has recorded over 20 major school kidnapping incidents. Many attacks in remote communities of Zamfara, Niger, Sokoto and Katsina go unreported. The real number is higher. Each number is a child who didn’t come home.
For years we said “it’s a Northern problem”. That lie ended on May 15, 2026.
On May 23, 2025 at Community High School and Yawota Baptist School in Oyo State, 39 students were abducted, including 7 teachers. Many of the victims are children of primary school age, which also shows that early years education is at threat, with some as young as three and four years old, heightening concerns about their well-being and safety.
Globally, classrooms are no longer sanctuaries. In Turkey, school shootings are rare, but April 2026 broke that silence. On April 14, a former student shot 16 people at a school in Siverek, Şanlıurfa. Less than a day later, a 14-year-old killed 10 and wounded 12 at Ayser Çalık Secondary School in Kahramanmaraş, making it Turkey’s deadliest school shooting. The U.S. faces a different scale: 18 school shootings with injuries or deaths in 2025 alone, claiming 7 lives. From Chibok to Kahramanmaraş to Fairfield, the equation is the same: education now demands a blood price.
Nigeria stands at a crossroads. We can keep trading speeches for security, or we can honor the debt owed to every child in a classroom. The Safe School Declaration must move from paper to practice, with real protection and real accountability for every naira spent. Schools are not political tools. They are sacred ground where futures are built. Awolowo gave us education without a price tag. We must not allow bandits to replace it with a blood tax. If we fail to act now, we risk raising a generation that inherits fear instead of knowledge, and empty classrooms instead of a nation with a future. The time for decisive action is now. Nigeria’s children deserve their classrooms back.
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African Report
Access Bank, Fifth Chukker and UNICEF Renew Commitment to Expanding Educational Opportunities for Nigeria’s Most Vulnerable Children
Access Bank, Fifth Chukker and UNICEF Renew Commitment to Expanding Educational Opportunities for Nigeria’s Most Vulnerable Children
London, United Kingdom – July 6, 2026: The transformative power of collective action in expanding access to education took centre stage in London as Access Bank UK, Fifth Chukker, UNICEF and the Kaduna State Government reaffirmed their shared commitment to creating brighter futures for Nigeria’s most vulnerable children.
Hosted by Access Bank UK, Access UK Polo Day celebrated more than 15 years of impact driven by a shared vision to expand educational opportunities for underserved children. What began as a modest initiative has evolved into one of Africa’s most impactful education programmes, with the Access Bank Fifth Chukker School in Kaduna State and its associated interventions positively impacting more than 14,000 children across underserved communities in Northern Nigeria.
At the heart of this transformation is the Access Bank Fifth Chukker School, where investments in educational infrastructure, learning resources and student support have created lasting opportunities for thousands of children. Between 2018 and 2026 alone, the school recorded 2,538 graduates, with female pupils accounting for more than 54 per cent of the total, underscoring the programme’s contribution to advancing girls’ education and promoting inclusive access to learning.
More than 1,000 pupils benefit from the school’s internationally recognised foundational learning programme each year, contributing to improved literacy and numeracy outcomes and a reported 15 per cent increase in learning performance. Students continue to secure admission into leading secondary schools, while teachers receive ongoing professional development and digital learning support. Enhanced infrastructural facilities and expanded learning resources have further strengthened the overall learning environment, helping to sustain the programme’s long-term impact.
This year’s event reinforced a compelling message: Every pledge should lead to a classroom, every classroom should empower a child, and every child should have the opportunity to shape a brighter future.
Speaking at the event, the Managing Director and Chief Executive Officer of Access Bank Plc, Roosevelt Ogbonna, reflected on the remarkable growth of the initiative and the unwavering commitment of its supporters.
“What began as a dream to transform the lives of 100 children has grown into a movement that has positively impacted more than 14,000 young people. We want to return next year talking about 28,000 children. Education remains the greatest leveller, giving every child a genuine opportunity to realise their potential and contribute meaningfully to society.”
Ogbonna expressed appreciation to donors and partners whose support has sustained the initiative, noting that investment in education creates lasting intergenerational impact.
Kaduna State Governor Uba Sani described education as one of the most valuable investments any society can make. He praised the longstanding alliance between Access Bank, Fifth Chukker and UNICEF, noting that it has restored hope and opportunity to thousands of children from underserved communities.
Highlighting Kaduna State’s ongoing education reforms, the Governor revealed that approximately 300,000 out-of-school children had been returned to classrooms over the past year through partnerships with organisations including UNICEF and other development partners. He also announced plans to construct an additional 120 classrooms at the Fifth Chukker Access Bank UNICEF School, enabling even more children to access quality education.
“What we are doing here is about humanity. By giving children access to quality education, we are empowering them to dream, to lead and to build a better future for themselves and their communities.”
Governor Sani also paid tribute to the late Herbert Wigwe, acknowledging his vision, leadership and enduring commitment to improving educational outcomes for underserved populations.
For Aigboje Aig-Imoukhuede, Chairman of Access Holdings, the true success of the initiative is reflected in the lives being transformed.
“The most meaningful measure of success is not the number of buildings we construct, but the opportunities we create. Every child who receives an education, every young person who discovers their potential, and every community strengthened through learning represents the lasting impact of this partnership. Together, we are proving that when purpose meets collaboration, we can create opportunities that change lives for generations.”
Welcoming guests, Jamie Simmonds, Chief Executive Officer of The Access Bank UK, described the gathering as polo with purpose, a celebration not only of sport but of a shared mission to create opportunity through education. He highlighted the institution’s commitment to supporting initiatives that deliver sustainable social impact and broaden access to learning for underserved children.
The event concluded with a renewed commitment from all stakeholders to deepen investment in education as a catalyst for national development and social progress. The Access Bank Fifth Chukker School continues to demonstrate the impact of sustained collaboration among the private sector, government and development partners, delivering measurable outcomes for vulnerable children in Northern Nigeria.
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Rotary District 9111 donates Peace Institute Building to Olabisi Onabanjo University
By Sunday Aikulola
As part of efforts aimed at preventing conflicts and promoting sustainable peace, members of Rotary International District 9111 yesterday donated Peace Institute Building to the management of Olabisi Onabanjo University (OOU), Ago-Iwoye Ogun State.
In his speech, District Governor of Rotary International District 9111, Rotarian Henry Akinyele said the Peace Institute is the District and Rotarians statement that peace must be taught, researched and practised, beginning from campuses and extending into communities.
To him, rather than waiting for conflict to happen, Rotarians chose to prevent it through education, dialogue and research.
Earlier this Rotary year, Akinyele recalled, ‘we organised a Peace Summit where participants agreed with the United Nations that quality education should include peace education. This Institute will train peace builders from different sectors of society in mediation, conflict analysis and non-violent communication’
Saying peace is everyone’s responsibility, Akinyele also added the project demonstrates the power of partnership among Rotary, Olabisi Onabanjo University, government and the wider community working together.
Specifically, he noted, ‘the United Nations also affirmed that conflict is one of the greatest causes of poverty and inequality. When communities are in conflict, schools close, farms are abandoned, businesses suffer and young people lose opportunities.
By investing in peace, we are protecting education, livelihoods and the future of our communities.
In conclusion, he disclosed, ‘today’s commissioning is another example of Rotary keeping its promises. I must acknowledge our Immediate Past District Governor, Dr. Oluwole Kukoyi, who conceived and introduced the three-month Certificate Programme in Peace Building, Conflict Prevention and Security Studies during the 2024–2025 Rotary year.’
In her speech, Ogun State Deputy Governor, Noimot Salako-Oyedele noted that Rotary has made significant contribution by donating the Peace Building.
‘I want to congratulate the Vice Chancellor, management and staff of OOU for the gesture. The facility will support conflict prevention, mediation and community development. ‘ She added.
On her part, OOU Deputy Vice Chancellor Academics, Prof. Olatundun Abosede stated the facility is an investment in peace promotion. To her, ‘we are deeply grateful to Rotarians for the cause.’
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