FMN Nigeria Launches 4th Season of Prize for Innovation, Focus on Livestock Farming

LAGOS, Nigeria - Feb. 18, 2025 - PRLog -- Flour Mills of Nigeria Plc (FMN), a leading food and agro-allied company, has launched the fourth edition of its FMN Prize for Innovation (PFI). This year's theme, "Innovative Practices in Livestock Farming in Nigeria," reinforces FMN's commitment to advancing sustainable solutions in the sector.

The call for entries began on January 24, 2025, and has been extended to February 28, 2025. FMN will also host a fireside chat on Arise TV's morning show on February 20, 2025, featuring judges from previous seasons who will share insights on innovation in Nigeria's agricultural landscape.

Since its inception in 2021, the FMN Prize for Innovation has empowered entrepreneurs and young innovators. Past winners have seen over 50% business growth, benefiting from FMN's financial and strategic support. Each year, the initiative highlights key aspects of the food value chain, driving progress in Nigeria's agricultural sector.

"Through the FMN Prize for Innovation, we continue to champion Nigeria's food security agenda," said Mr. Boye Olusanya, GMD/CEO of FMN. "By investing in innovative livestock solutions, we aim to strengthen the value chain, enhance productivity, and promote sustainable practices."

Nigeria's livestock sector is crucial but faces challenges like disease outbreaks, inefficient farming practices, and limited access to modern technology. FMN seeks to support innovations that address these issues and improve sustainability.

Mr. Sadiq Usman, Group Director of Strategy and Stakeholder Relations at FMN, emphasized, "Beyond financial support, we provide winners with mentorship, industry exposure, and a platform that boosts credibility, attracting potential investors."

The competition has two categories: one for Nigerian SMEs with scalable livestock innovations and another for students proposing bold ideas. A panel of judges from the agriculture and investment sectors will select winners.

The top SME will receive N5 million, while the first and second runners-up will get N3 million and N2 million, respectively.

By addressing key livestock farming challenges, this year's FMN Prize for Innovation reinforces FMN's mission to reduce import dependency, foster rural development, and drive economic diversification.
https://www.fmnplc.com/prizeforinnovation/