Flour Mills of Nigeria has invested more than N300m in 11 innovators and businesses through its FMN Prize for Innovation initiative, as the food and agro-allied group seeks to accelerate sustainable food systems in Nigeria and across Africa.

The company said the investment had provided financial, technical and strategic support to innovators developing solutions for food production and processing since the initiative began in 2021.

FMN said the initiative was established as part of its long-term strategy to strengthen food security through product and process innovation, local content development and investments across critical agricultural value chains.

The group operates across grains, sugar, cassava starch, feeds and protein, edible oil and fats, with more than 17 facilities across Nigeria.

According to the company, the FMN PFI was designed to support innovative businesses in the food and agro-allied sector and help build sustainable food systems.

“The brand’s commitment to the FMN Prize for Innovation is strategic and deliberately geared towards revolutionising and attaining food sustainability in Nigeria, and eventually across Africa,” the company said.

The first edition, launched in December 2021 under the theme, ‘Enabling Sustainable Food Systems,’ focused on reducing losses and waste in food production and improving agricultural value chains.

The inaugural winners included Urban Akwu Agro-allied Limited and Eupepsia Place Limited, which specialises in soilless farming through hydroponics.

The second edition shifted attention to local content development, challenging participants to develop solutions that could reduce reliance on imported raw materials and strengthen domestic production capacity.

Osomobegbe Global Ventures Limited, which developed solar dryers, won the top prize, while Palmark Syndicate Limited, a tomato powder producer, and Indigo Farms and BioResources, which developed cassava residue pellets for animal feeds, emerged as first and second runners-up, respectively.

FMN said innovations submitted across the first two editions included solar-powered storage systems, hydroponic farming, bio-recycling plants and technologies for generating electricity from food waste.

The third edition focused on precision agriculture and food self-sufficiency, with D-Olivette, a waste-to-biogas conversion company, emerging as the winner.

Green Eden Farms and Farmspace Action Lab, which focus on precision greenhouse farming and soil testing, respectively, emerged as first and second runners-up.

The fourth edition, which focused on innovative livestock farming practices, attracted about 2,000 entries.

The fifth edition focused on cassava production and processing and attracted more than 2,700 entries.

Kiyoko Foods Limited, founded by Victoria Ogwanighie, emerged as the winner with its innovation for converting cassava into nutrient-rich cheese balls.

PNeedles Limited, which converts cassava peels into plant-based leather, emerged as first runner-up, while Bach and Moen Limited, which developed cassava processing hubs for smallholder farmers, placed third.

FMN said the fifth edition also marked the emergence of the first female winner in the prize’s five-year history. The company said its chairman, John Coumantaros, and the special guest of honour doubled the prize money for the top three finalists to N10m, N6m and N4m, respectively.

The company said the beneficiaries had recorded significant business growth following the prize money, mentorship and other strategic support.

“From data and information garnered through the mentorship sessions and other strategic support provided to the winners, FMN discovered that all beneficiaries’ businesses have experienced remarkable growth, with their operations expanding by over 50 per cent since receiving the prize money and resources from FMN,” the company said.

FMN said it would continue to use innovation, local content development and strategic investment to support food self-sufficiency and sustainable food systems in Nigeria, with the long-term goal of extending the impact across Africa.