On July 10, after the release of its earnings, FMN spoke of its continued focus on transitioning from a food processing company to a fully integrated consumer foods business supported internal supply chain via its agro-allied business. This increased stake in ROM is a part of that plan.
“FMN is fully confident that its new investment will help to strengthen the company in its drive for economic growth and industrial development in Nigeria,” said Paul Gbededo, FMN’s Group managing director and chief executive. “The operation of ROM Oil will continue to significantly help to maximize local content, achieve foreign exchange savings and will have a big impact on feeding the nation better.”
