Flour Mills of Nigeria PLC (FMN) has announced the call for entries for the fourth edition of its FMN Prize for Innovation (PFI) with focus on livestock industry.
This year’s theme, “Innovative Practices in Livestock Farming in Nigeria,” underscores FMN’s commitment to promoting sustainable solutions that can transform the country’s livestock space and drive long-term economic growth.
Entries for the fourth season of the FMN PFI started on January 24, 2025, and will close on February 28, 2025, after a two-week extension.
The initiative aims to support innovative solutions that can overcome impediments to long-term growth in livestock farming in Nigeria, strengthening the livestock value chain and improving productivity across the sector.
Speaking on the initiative, FMN’s Group Managing Director, Mr. Boye Olusanya, stated: “Through the FMN Prize for Innovation (PFI), the Company continues to champion Nigeria’s Food security agenda.
Since inception in 2021, we have nurtured and financially supported about eight businesses whose scale-up is over 50%, based on the invaluable support and resources provided to them by the company.”
Mr. Olusanya emphasized FMN’s commitment to local content development, saying: “Through our consistent actions and investments in Nigeria, we have demonstrated our unwavering commitment to local content development to reduce the nation’s dependency on imported raw materials.”
Mr. Sadiq Usman, Group Director, Strategy and Stakeholder Relations, FMN, highlighted the sustainability of the initiative, saying: “The sustenance of the FMN Prize for Innovation is premised on the process and the passion of the team that manages the process.
Over the years, we have established a growth-driven process that ensures that we don’t just provide financial support for the winners of the prize but also provide them with insights and mentorship that ensures that they effectively utilize the funds for their business scale-up.”
