Flour Mills of Nigeria Plc has opened entries for the fifth edition of its annual Prize for Innovation, with this year’s focus placed on cassava production and processing as part of efforts to boost local industrial capacity.
The 2026 edition is themed “Innovative Practices in Cassava Production and Processing.” It is designed to encourage practical solutions that can strengthen Nigeria’s cassava value chain and reduce reliance on imported derivatives.
Although Nigeria remains the world’s largest producer of cassava, the country continues to import significant quantities of cassava-based industrial inputs. This has highlighted gaps in local processing capacity and value addition, despite the crop’s wide availability.
The Prize for Innovation is open to registered Nigerian small and medium-scale enterprises in the food and agro-allied sector, as well as student innovators. Under the SME category, winners will receive ₦5 million for first place, ₦3 million for second place and ₦2 million for third place. In the student category, prizes of ₦300,000, ₦200,000 and ₦100,000 will be awarded to the top three entrants.
Beyond the financial rewards, selected participants will receive mentorship and access to industry networks aimed at supporting the commercial viability of their ideas.
Speaking on the initiative, the Group Chief Executive Officer of Flour Mills of Nigeria, Boye Olusanya, described the fifth edition as strategically aligned with Nigeria’s industrial development priorities.
He said the company’s renewed focus on cassava reflects its potential to support industrial self-sufficiency within the food and agro-allied sector, especially at a time when local production capacity is under renewed scrutiny.
According to Olusanya, the innovation prize has, over the past five years, supported the development of practical solutions within Nigeria’s food system and contributed to ongoing efforts to reduce dependence on imported raw materials.
Since its launch in 2021, the initiative has supported 24 innovators across four editions, disbursing more than ₦42 million in direct funding. The company also stated that additional structured support valued at over ₦200 million has been provided to help past winners scale their solutions and improve market readiness.
Earlier editions of the prize addressed themes such as food loss and waste reduction, local content development, precision agriculture and livestock farming, reflecting changing priorities within the agricultural sector.
Sadiq Usman, Managing Director of FMN Agro and Group Director of Strategic Stakeholder Relations, said the programme is structured to move ideas beyond the conceptual stage.
He explained that the initiative combines funding with industry guidance and mentorship to ensure that selected projects can transition into viable commercial ventures.
Entries for the fifth edition are open until March 16, 2026, and applications are to be submitted through the initiative’s official website.
Founded in 1960, Flour Mills of Nigeria operates across several value chains, including grains, sugar, cassava starch, feeds and protein, and edible oils and fats. The company has maintained a significant presence in Nigeria’s food production sector for more than six decades.
The renewed focus on cassava industrialisation aligns with broader national conversations around food security, import substitution and agricultural value chain development.
