By Chukwuma Umeorah
Flour Mills of Nigeria Plc (FMN) has restated its drive at improving the Nigerian food value chain through boosting local content development and using innovative techniques to sustain the Agro-allied sector. This is even as it announced the commencement and call for applications in the second edition of its ‘Prize for Innovation”(PFI) Competition.
The yearly competition, which started in 2021, is aimed at promotion of new ideas to boost the quest for food self-sufficiency in Nigeria. Themed “Innovative techniques for local content development in the food and agro-allied sector”, this year’s edition will focus on facilitating the use of local content within the Nigerian food value chain, for sustainable food production.
Participants in this year’s competition are expected to unleash their innovative and cutting-edge solutions to ensure Nigeria’s food & agro-allied sector, moves from a dependence on the importation of raw materials to prioritize local capacity development.
In the first category, small and medium businesses operating within the food and Agro-allied sector, participants will send entries to compete for a chance to win the grand prize of N5 Million while the first and second runners-up win N3 Million and N2 Million respectively.
Along with the cash prize, FMN will provide value-based opportunities to the top 5 finalists selected to pitch their ideas to judges in the live event. These opportunities will include training, seminars, and networking opportunities.
In the second category, students in undergraduate and postgraduate levels with interest in the food and agro-allied industry, are eligible to send in applications which will be judged by the general public as a viewers’ choice format. The winner in this category will get a cash prize of N300,000, while the first and second runners-up will win N200,000 and N100,000 respectively.
Judges returning from the maiden edition of FMN’s Prize for Innovation include Chief Executive Officer and Founder of Tomato Jos Farming and Processing Limited, Mira Mehta, a private equity investment advisor, Mezuo O. Nwuneli, Chief Executive Officer of Fate Foundation, Adenike Adeyemi and Director of Strategy and Stakeholder Relationship for Flour Mills of Nigeria, Sadiq Usman.