Flour Mills of Nigeria Plc (FMN) has announced the commencement of entries for the fourth edition of its FMN Prize for Innovation (PFI), with a focus on livestock farming.
According to a statement released on Thursday, the 2025 edition, themed “Innovative Practices in Livestock Farming in Nigeria,” aims to highlight solutions that can improve the sector and address challenges such as disease outbreaks, poor farm practices, and limited access to modern technology.
The competition, first launched in 2021, is designed to promote innovation in the food and agro-allied industry. This year’s edition will have two categories: one for Nigerian SMEs developing scalable innovations in livestock farming, and another for students, who are encouraged to submit forward-thinking ideas.
Speaking on the initiative, FMN’s Group Managing Director, Boye Olusanya, said:
“Since inception, we have nurtured and financially supported about eight businesses, helping them scale by over 50% through our resources and mentorship.”
Entries opened on January 24, 2025, and will close on February 28, 2025, following a two-week extension.
A panel of judges from the agriculture and investment sectors will evaluate submissions, with winners receiving cash prizes and one-year mentorship opportunities.
For the SME category, the top prize is ₦5 million, while ₦3 million and ₦2 million will go to the first and second runners-up, respectively. In the student category, winners will receive ₦300,000, ₦200,000, and ₦100,000, depending on placement.
FMN’s Group Director of Strategy and Stakeholder Relations, Sadiq Usman, emphasized that the initiative is not just about financial support but also about providing access to mentorship and industry connections.
“We have established a growth-driven process that ensures winners effectively utilize their funds. Past winners have testified to the credibility and investor interest gained through the program.”
The competition is part of FMN’s broader strategy to strengthen Nigeria’s livestock value chain and encourage innovative, sustainable solutions in the sector.
