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Application Deadline: January 05, 2023
Overview:
Driving Local Content Development in The Food and Agro-allied Sector
The FMN Prize for Innovation is a social impact initiative established by Flour Mills of Nigeria Plc
(FMN) to encourage new ideas in food production, innovation, and engineering and how these
can impact and enable a sustainable food system in Nigeria.
The FMN Prize for Innovation
Flour Mills of Nigeria Plc, a leading food and agro-allied group in Africa, launched the FMN Prize for
Innovation to encourage new ideas and innovations in the food and agro-allied sector in Nigeria and
across the continent and how these can impact and enable a sustainable food system in Nigeria.
The group strongly believes that an innovation-driven food system is achievable in Nigeria and that it
can contribute to the systematic development of the food value chain and the attainment of the 2030
Agenda for Sustainable Development.
That is why the FMN Prize for Innovation seeks to nurture and support novel ways of thinking, as
well as inventive ideas to resolve existing problems in the food and agro-allied sector.
Every year, the prize will focus on important aspects of the food value chain that we believe are
critical to the transformation and sustainable development of the food systems in the country.
The focus for this year’s Prize is on developing local content and capacity in Nigeria.
Addressing local production and food import in Nigeria
In 2021 it was reported by the Office of the International Trade Administration that Nigeria spends $10
billion annually on importation to meet her food and agricultural needs. This has led to a 23% increase in food prices thereby weakening purchasing power of about 20 million people.
In many developing countries like Nigeria food insecurity and unaffordability begins at the downstream
value chain, because of the unavailability of raw materials at the production stage of the supply chain.
This can be traced to insufficient local production and rising domestic demand.
What we are looking for
FMN’s Prize for innovation is looking for solid ideas for improving local content development
through previously untapped resources and technologically powered solutions to reduce
dependence on food importation in the food and agro-allied sector in Nigeria.
Eligibility for Category 1:
● Micro, Small, and Medium Scale Enterprises (MSMEs) that are registered in Nigeria and
operate in the agro-processing and food production space.
● Your big idea and innovative solution should address a shift from dependence on raw
materials import to prioritize local content usage in Nigeria’s food and agro-allied sector.
● Your idea should have a solid proof-of-concept, a social or commercial purpose, and a
clear roadmap to scale.
Category 2
Nigerian Students (undergraduate and postgraduate level)
Eligibility:
Nigerian Students (Undergraduate and postgraduate level)
● Your big idea and innovative solution must address a shift from dependence on raw
materials import to prioritize local content usage in Nigeria’s food and agro-allied sector.
● Your idea has a solid proof-of-concept and a social or commercial purpose.
All entries will be evaluated according to the following criteria:
• Ingenuity of the ideas
• Social / commercial purpose of the idea
• Thoroughness of research
• Impact & Scalability
• Likelihood of the success of the enterprise
Note: Only Shortlisted candidates will be contacted
Benefits:
Stand the chance of winning the star prize of N5 million.
Data Protection
Without the applicants’ approval, no part of the information submitted during the
application process will be made public or used for any purpose other than the FMN Prize
for innovation.
