In a significant move to revitalize Enugu State’s Sunrise Flour Mills located in the Emene area, the state government has entered into a groundbreaking N40 billion agreement with Jelfah Nigeria Limited.
This development was announced by Governor Peter Mbah via a statement on the official X (formerly Twitter) platform.
The deal entails Jelfah Nigeria Limited acquiring a 60 percent equity stake in the flour mill, with a commitment of N24 billion for its revitalization. Of this investment, N22 billion is earmarked specifically for upgrading the facility, while N2 billion is designated for direct benefits to the state.
Governor Mbah highlighted that this partnership is part of a broader strategy aimed at transforming the state’s economy from its current valuation of $4.4 billion to $30 billion through robust private sector investments. He noted the establishment of a special purpose vehicle to oversee the management of 10,000 hectares of farmland dedicated to the cultivation of essential raw materials, such as cassava and grains, for the mill.
The governor expressed gratitude to Jelfah Group and its chairman, Moses Saromi, for their confidence in the state and commitment to turning Sunrise Flour Mills into a center of excellence. He reiterated the government’s dedication to fostering a business-friendly environment to attract further investments.
In the wake of this announcement, Labour Party’s 2023 governorship candidate in Enugu State, Chijioke Edeoga, has urged the governor to reconsider the state’s current tax regime, which he argues has placed a heavy burden on residents and local businesses.
