Flour Mills of Nigeria (FMN) has launched the fourth edition of its annual Prize for Innovation (PFI), with a focus on innovative practices in livestock farming in Nigeria. The initiative is part of FMN’s efforts to promote local innovation and address the challenges facing the livestock sector.
The livestock sector is crucial to Nigeria’s food system and economic growth, but it faces numerous challenges. FMN’s Group Managing Director and Chief Executive Officer, Boye Olusanya, highlighted the importance of innovation in addressing these challenges. “Through the FMN Prize for Innovation, we continue to champion Nigeria’s food security agenda,” he said. “Since its inception in 2021, we have nurtured and financially supported about eight businesses, whose scale-up has exceeded 50% due to our resources and mentorship.”
The Prize is designed to identify and support innovative businesses in the livestock sector. Winners will receive financial support, mentorship, and resources to help them scale up their businesses. As FMN’s Group Director, Strategy and Stakeholder Relations, Sadiq Usman, noted, the initiative is focused on sustainability, providing winners with more than just financial support.
