Get ready for an exciting opportunity that could revolutionize Nigeria's small business landscape! Flour Mills of Nigeria (FMN) is on a mission to unlock new industrial frontiers, and they're inviting you to be a part of it.
FMN has just announced the fifth edition of its annual Prize for Innovation (PFI 5.0), and this time, they're targeting a strategic crop: cassava. But here's where it gets controversial... despite being the world's largest producer, Nigeria still imports significant amounts of cassava-based products. FMN aims to change that with this innovative competition.
The 2026 edition, themed 'Innovative Practices in Cassava Production and Processing', is a call to action for Nigerian small and medium-scale enterprises (SMEs) and student innovators. With a focus on advancing homegrown solutions within the cassava value chain, FMN is offering a chance to win big and make a real impact.
For SMEs, the prizes are substantial: N5 million for first place, N3 million for second, and N2 million for third. Student innovators can also shine, with cash prizes of N300,000, N200,000, and N100,000 for the top three. But it's not just about the money. Winners will also gain access to corporate mentorship and industry support, helping them turn their ideas into sustainable businesses.
And this is the part most people miss: FMN's initiative goes beyond financial rewards. By combining funding with mentorship and industry access, past winners have been able to transform their operations and move towards commercial success. FMN believes this edition will further enhance the pipeline of scalable cassava-focused solutions, especially those with industrial applications.
For MSMEs operating within the cassava ecosystem, this competition is a game-changer. It offers not just funding but also a gateway to stronger industry networks and long-term growth opportunities. With FMN's support, these businesses can thrive and contribute to Nigeria's agricultural and industrial progress.
So, are you ready to take on the challenge? Entries for PFI 5.0 are now open and will close on March 16, 2026. Apply through the official Prize for Innovation website and be a part of this exciting journey. Remember, it's not just about the prize money; it's about being a part of Nigeria's innovative future.
And for those curious about FMN's journey, the company has a rich history. Incorporated in 1960, FMN has grown into one of Africa's largest food and agro-allied groups, with strategic investments across multiple value chains. For over six decades, they've been committed to their purpose: 'feeding and enriching lives every day.'
So, will you answer FMN's call for innovation? The future of Nigeria's cassava industry might just depend on it! Don't miss out on this incredible opportunity.
