The Enugu State Government and Jelfah Nigeria Ltd have signed a N40 billion deal aimed at revitalizing the long-defunct Sunrise Flour Mills.
The agreement, finalized at the Government House in Enugu on Tuesday, grants Jelfah a 60% equity stake in the mills, while the state government retains a 40% stake based on existing assets.
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Jelfah is set to invest N24 billion into reviving the mills, which have been inactive since 1985, just two years after their commissioning in 1983.
Governor Peter Mbah, speaking at the signing ceremony, noted that this partnership follows a recent N100 billion deal to revive Enugu United Palm Products Limited (UPPL), reinforcing his administration’s goal to grow the state’s economy from $4.4 billion to $30 billion through private sector-driven investments.
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“This N40 billion investment by Jelfah Group will see N22 billion dedicated to revitalizing Sunrise Flour Mills and an additional N2 billion injected into the state as cash. A Special Purpose Vehicle (SPV) will also secure 10,000 hectares of farmland to cultivate inputs like cassava and grains for the mills,” Mbah explained.
He emphasized that Enugu State is committed to fostering a favorable business environment and urged other investors to seize opportunities in the state.
“We want to send a clear message that Enugu is open for business. We are creating a win-win situation for investors and the people of the state,” he added.
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Chairman of Jelfah Group, Moses Saromi, praised the governor’s leadership and vision, which he said had significantly improved the ease of doing business in the state.
He expressed Jelfah’s eagerness to transform Sunrise Mills into a hub of excellence and support the state’s economic development.
“Governor Mbah’s policies have unlocked new opportunities for private sector participation. We are proud to acquire 60% equity in Sunrise Flour Mills, which aligns with both Jelfah’s long-term vision and the governor’s goal of revitalizing moribund assets,” Saromi stated.
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He also highlighted that within 90 days, significant activity would commence at the mills, including recruitment of local staff and preparation for farming on the 10,000 hectares of land allocated for input cultivation.
Saromi concluded by affirming that the partnership will stimulate job creation, boost local production capacities, and contribute significantly to the socio-economic progress of Enugu State.
