Honeywell Flour Mills Plc is a major flour milling company in Nigeria. They mill, process, and package flour and wheat-based products. Join us for a tour of Honeywell's world-class factory.
Mr. Olarenwaju Jaiyeola (Managing Director, Honeywell Flour Mills Plc) describes the impact the Bank's intervention has had on the operations and production capacity of Honeywell; Over time Honeywell needed to increase their capacity in Pasta production, so they acquired a big expanse of land in Sagamu (close to 64 hectares of land). They took their Pasta factory out of Ikeja Lagos, and moved it Sagamu. Honeywell approached Bank of Industry, who offered a cost of funding lower than the commercial banks in Nigeria. BOI also offered a very good moratorium. With the support of Bank of Industry, Honeywell was able to increase its capacity by about 170%. This has led to a considerable increase in Honeywell's revenue and workforce.
BOI Impact is Bank of Industry's flagship television programme.
It airs Mondays on NTA International at 8.00-8.30pm, and Tuesdays on Channels Television at 8.30-9.00pm.
This episode originally aired in 2021.
BOI Impact, presented by Hadiza Olaosebikan (Head, Corporate Communications Division - South, BOI)
Bank of Industry
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