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FCMB hails unveiling of product from tomato processing firm

By Bankole Orimisan
21 March 2022   |   2:45 am
With its financing support for the construction of Tomato Jos Farming and Processing Limited's 3.5tons/hr tomato paste processing plant located at Kangimi, Kaduna Stat

FCMB

With its financing support for the construction of Tomato Jos Farming and Processing Limited’s 3.5tons/hr tomato paste processing plant located at Kangimi, Kaduna State, First City Monument Bank (FCMB) has commended launch of the firm’s first product.

Indeed, Tomato Jos Farming and Processing Limited unveiled its Tomato Jos paste variant into the Nigerian market.

The new tomato paste variant, packaged in a 65-gramme sachet, is produced directly from fresh tomatoes grown in the country, thereby, guaranteeing superior flavour and colour. It is the company’s first consumer product since the commencement of operations at its multi-billion-naira factory in Kaduna state last year.

FCMB had in 2019 financed the construction of the plant through the Central Bank of Nigeria’s Real Sector Support Facility (RSSF) intervention fund to procure plants and machinery for the factory.

Speaking at an event to unveil the Tomato Jos sachet variant, the Managing Director of the company, Mira Mehta, said: “It is a dream come true. Though entrepreneurship is full of ups and downs, I feel encouraged whenever I see my passion for this business ignite in one of my colleagues. I am incredibly proud of the Tomato Jos team for their hard work and belief that we could achieve something on this scale. The facility is the only one of its kind in Nigeria that can produce sachet tomato products directly from fresh tomatoes.

“The product is currently available throughout Kaduna State, and we intend to expand to more states by the end of 2022. Our company’s theme for 2021 was ‘Let’s Do This!’ and, well, we did it! The future looks bright for Tomato Jos. We will continue to grow until we become a household name across Nigeria”.

Also commenting on the development, the Managing Director of FCMB, Mrs Yemisi Edun, described the Bank’s funding of the factory as another landmark intervention to boost agribusiness, food security and food sufficiency in Nigeria.

Tomato Jos Farming and Processing Limited, a wholly-owned subsidiary of Tomato Jos Incorporated, has received investment support from the Central Bank of Nigeria through FCMB, Goodwell Investments B.V through Alitheia IDF, VestedWorld, the Acumen Resilient Agriculture Fund, The Morning Star Company, and other private investors.

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