₦airaland Forum

FMN Announces PFI 5.0 with Focus on Cassava Industrialization, Calls for Entries

Flour Mills of Nigeria (FMN), leading diversified pan-African food and agro-allied group, officially opens entries for the 5th Edition of its annual Prize for Innovation (PFI 5.0). Building on a five-year legacy of driving transformation across Nigeria’s agricultural value chain, the 2026 edition, themed “Innovative Practices in Cassava Production and Processing,” focuses on advancing homegrown innovations in cassava, reinforcing the group’s commitment to local content development and sustainable food systems.

The initiative is open to registered Nigerian small and medium-scale enterprises (SMEs) in the food and agro allied sector and student-innovators. Successful participants in the SME category will receive cash prizes of ₦5 million for first place, ₦3 million for second place, and ₦2 million for third place. In the Student category, winners will receive ₦700,000, ₦500,000, and ₦300,000 for the top three positions. Beyond prize money, winners will gain access to corporate mentorship and industry insight to support the commercialisation of their solutions and drive business longevity.

This year’s focus reflects a deliberate response to one of Nigeria’s economic paradoxes, being the world’s largest producer of cassava while continuing to import significant volumes of cassava-based industrial derivatives. Through PFI 5.0, FMN is directing attention to innovations capable of strengthening cassava industrialisation.

Speaking on the milestone edition, Mr. Boye Olusanya, Group Chief Executive Officer (GCEO), FMN, noted the strategic imperative

“The FMN PFI 5.0 is an industrial priority. Over the past five years, we have deliberately supported local innovation in building solutions within Nigeria’s food system. Our focus on cassava is strategic. It holds the key to industrial self-sufficiency, and economic progression through the Food and Agro-allied space. Since its inception, the FMN Prize for Innovation has been enabling sustainable food systems in Nigeria, and progressively reduce dependency on imported raw materials.”

Since its launch in 2021, the FMN Prize for Innovation has empowered 24 innovators across four editions, disbursing over ₦42 million in funding, and over ₦200 Million in the provision of structured system to help winning ideas scale. Previous editions have addressed priority areas including food loss and waste, local content development, precision agriculture, and livestock farming.

Also speaking, Mr. Sadiq Usman, Managing Director, FMN Agro and Group Director, Strategic Stakeholder Relations, FMN, said the initiative is structured to deliver long-term outcomes.

“The Prize for Innovation is designed to move ideas beyond the concept stage. By combining funding, mentorship and access to industry insight, we have enabled past winners to strengthen their operations and progress towards commercial viability. We expect the fifth edition to further deepen the pipeline of scalable cassava-focused innovations”

Entries are now open and will close on March 16, 2026. Interested innovators can learn more and submit their applications through the official prize for innovation website.

Through the Prize for Innovation, FMN continues to drive agri-enterprise growth, strengthen local innovation capacity, and contribute to Nigeria’s long-term agricultural and industrial transformation.

To register as SMEs: https://linkly/2dgtP
To register as Students: https://linkly/2dgta

https://guardian.ng/business-services/%E2%82%A65m-top-prize-as-fmn-opens-entries-for-prize-for-innovation-targets-cassava-industrial-growth/

Okay. A very good one from Flour Mills

Cassava Hmmm poison. Are there no other food item to research on .

Yes a lot more can be done with cassava

Agugbadin:
Cassava Hmmm poison. Are there no other food item to research on .

Lol. Be open to learning new things.

Indeed... This is lovely. Students give it a try

Flour mills should break up the funds to fund research in universities BSc, MSc and PhDs

Agugbadin:
Cassava Hmmm poison. Are there no other food item to research on .

The same cassava we have been consuming years back or another one.

Good. More innovation, retention and implementation

There are hundreds to thousands of industrial applications for cassava other than food production or human consumption. Industrial starch for ethanol (green fuel), textile industry, and drug production are some examples. Learn!

Agugbadin:
Cassava Hmmm poison. Are there no other food item to research on .

Why isn't the link opening?