FMN launches 4th season Prize for Innovation on livestock farming

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FMN launches 4th season Prize for Innovation on livestock farming

Flour Mills of Nigeria PLC (FMN) has announced the call for entries for the fourth edition of its FMN Prize for Innovation (PFI).

This year’s theme, “Innovative Practices in Livestock Farming in Nigeria,” highlights 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 the 24th of January 2025 and are set to close on the 28th of February 2025 after a two-week extension.

The maiden edition of the FMN Prize for Innovation took place in 2021, an initiative designed to build a sustainable food system in Nigeria.

With this year’s theme, FMN aims to support innovative solutions that can overcome impediments to the attainment of long-term growth in livestock farming in Nigeria, thereby strengthening the livestock value chain and improving productivity across the sector.

Speaking on this issue, 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.

“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.”

Also speaking on the sustainability of the initiative, Mr. Sadiq Usman, Group Director, Strategy and Stakeholder Relations, FMN said: “The sustenance of the FMN Prize for Innovation is premised on the process and the passion of the team that manages the process.

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“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.”