Promasidor seals contract with Ekiti State on Ikun Dairy Farm
Promasidor Nigeria Limited has signed a partnership agreement with Ekiti State Government to drive its backward integration initiative aimed at creating local source of raw materials for its dairy products through the state owned Ikun Dairy Farm.
The pact was sealed on behalf of the partners by the Ekiti State Governor, Dr. John Kayode Fayemi and the Managing Director of Promasidor Nigeria Limited, Anders Einarsson in Abuja.
This project will enable Promasidor utilise the potentials of Ikun Dairy Farm in the making of milk and other products of nutritional value which helps to enhance human growth.
Commenting on the agreement, Fayemi stated that Ekiti State was delighted to collaborate with a major player in the fast-moving consumer goods sector that is deeply committed to the wellbeing of consumers through its array of quality products.
The Governor affirmed that the partnership would enhance the backward integration initiative of Promasidor, in compliance with Federal Government’s directives that companies should seek local source of raw materials for their products, thus ensuring local content development.
Fayemi disclosed that Ikun Dairy Farm, established in 1980 with hundreds of fattened cows, could serve as a source of milk supply to produce evaporated milk and other nutritional products, create more employment opportunities and increased nutritional products.
In his remark, the Managing Director of Promasidor Nigeria Limited, Anders Einarsson, who was highly elated with the progress made on backward integration, said Ikun Dairy Farm would in no small measure provide opportunities to enhance local milk production, an exciting opportunity for the company.
He affirmed that local source of milk collection is paramount for a maker of quality products such as Cowbell Milk, Loya Milk, Cowbell Chocolate, Miksi and others, to ease less dependence on foreign raw materials.
The Promasidor boss corroborated Fayemi’s view that the partnership would also lead to further employment.
Recall that the Ikun Diary facility, which was established at Ikun Ekiti in the Moba Local Government Area of Ekiti State during President Shehu Shagari in the 1980s, has remained in terrible state and abandoned by successive governments.
Meanwhile, former Governor Segun Oni (2007 – 2010) had reportedly committed N700m to the project through the purchase and installation of dairy machines and importation of 700 cows from South Africa. The machines, MARKETING EDGE intelligence gathered, had never been used for a day.
Crisis, however, allegedly ensued before the expiration of Oni’s tenure due to sabotage on the part of those managing the place, leading to the failure of the project.
With an astute investor such as Promasidor, industry watchers think the project is most likely to get a new lease of life.
Photo caption:
L – R: Managing Director of Promasidor Nigeria Limited, Anders Einarsson and Ekiti State Governor, Dr. John Kayode Fayemi during the signing of a partnership agreement recently in Abuja.
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