On February 12, 2026, Flour Mills of Nigeria (FMN) Plc officially launched the fifth edition of its annual Prize for Innovation (PFI 5.0). This milestone edition, themed “Innovative Practices in Cassava Production and Processing,” pivots the company’s focus toward one of Nigeria’s most significant agricultural opportunities.
Despite being the world’s largest producer of cassava, Nigeria remains heavily dependent on imported cassava-based industrial derivatives like starch and sweeteners. PFI 5.0 is designed to bridge this gap by empowering homegrown solutions that can industrialize the value chain.
1. Prize Structure and Categories
The competition is divided into two distinct tracks, offering a mix of high-impact funding and professional development.
2. Strategic Rationale: The Cassava Mission
Group CEO Boye Olusanya described the initiative as an “industrial priority.” The goal is to move beyond subsistence farming into Backward Integration, a model where FMN sources raw materials locally to fuel its industrial processing plants (such as the Premium Cassava Products Division).
Key Focus Areas for Applicants:
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Yield Enhancement: Innovations in seed development and precision farming.
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Processing Efficiency: New tech for converting tubers into starch, ethanol, or flour.
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Waste-to-Value: Solutions for managing cassava peels and effluent.
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Supply Chain Logistics: Better ways to transport and store perishable tubers.
3. Legacy of Impact (2021–2026)
Since its inception, the FMN Prize for Innovation has become a cornerstone of Nigeria’s agritech ecosystem:
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24 Innovators Empowered across 4 previous editions.
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Over ₦42 Million disbursed in direct cash grants.
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Over ₦200 Million invested in structured support systems and scaling winning ideas.
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Previous Themes: Food loss reduction, precision agriculture, and livestock farming.
4. How to Apply
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Eligibility: Registered Nigerian SMEs in the food/agro-allied sector and current Nigerian students.
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Application Deadline: March 16, 2026.
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Portal: Applications are submitted through the official FMN Prize for Innovation website.
“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.” — Sadiq Usman, MD, FMN Agro.
