The Enugu State Government has secured a significant agreement worth N40 billion with Jelfah Nigeria Limited to revitalize the long-abandoned Sunrise Flour Mills in Emene.
This landmark deal aims to restore the mill’s operations and boost the local economy.
The Governor, Peter Mbah disclosed this in a statement posted on his official X account on Tuesday.
According to the terms of the deal, Jelfah Nigeria Limited, led by Chairman Moses Saromi, will acquire a 60% equity stake in the mills.
The investment includes N24 billion allocated for the facility’s revitalization and N2 billion designated to benefit the state directly.
“Today, we took another decisive step towards revitalising our moribund assets. We signed a landmark N40bn deal with Jelfah Nigeria Ltd, led by the chairman, Moses Saromi, to revitalise the long-abandoned Sunrise Flour Mills at Emene.
“This significant partnership will see Jelfah acquiring a 60% equity stake and investing N24bn in the mills – N22bn for the revitalisation and N2bn benefiting the state directly,” the statement read in part.
The agreement also detailed the creation of a Special Purpose Vehicle (SPV) to oversee 10,000 hectares of farmland dedicated to producing key inputs for the mills, such as cassava and grains.
This move follows an earlier N100 billion deal to revive Enugu United Palm Products Limited and underscores the government’s strategy to elevate Enugu’s economy from $4.4 billion to $30 billion through targeted private sector investments.
Over recent months, the Enugu State Government has engaged in several partnerships aimed at revitalizing the agricultural sector and enhancing the state’s economic prospects.
In addition, on September 13, the state launched a N100 billion revitalization project for Enugu United Palm Products Limited in partnership with Pragmatic Palms Limited.
This project aims to enhance the state’s agricultural sector by creating 3,500 jobs, restoring 20,000 hectares of palm plantations, and establishing new oil mills with refining capabilities.
These initiatives reflect the state’s commitment to transforming its economy through strategic private sector investments and revitalization of key agricultural assets.
