General
FMN Launches 4th Season of Prize for Innovation, Focuses on Livestock Farming
**Set to hold a fireside Chat on Arise TV with Judges
**Confirms over 50% business scale-up for past winners
Flour Mills of Nigeria PLC (FMN), a diversified Pan-African consumer-centric food and agro-allied Company has announced the call for entries for the fourth edition of its FMN Prize for Innovation (PFI).
This year’s theme, Innovative Practices in Livestock Farming in Nigeria, highlights FMN’s commitment to promoting sustainable solutions that can transform the country’s livestock space and drive long-term economic growth.
Entries for the fourth season of the FMN PFI started on the 24th of January 2025 and are set to close on the 28th of February 2025 after a two-week extension. The Company also will hold a fireside chat on Arise TV morning show on the 20th of February 2025, an opportunity for the judges from the past three seasons to share their insights, learnings, and experiences.
The maiden edition of the FMN Prize for Innovation took place in 2021, an initiative designed to build a sustainable food system in Nigeria. The past three editions explored relevant themes that spotlighted innovative businesses and SMEs within the Food and agro-allied space.
Every year, the FMN Prize for Innovation will highlight an important part of the food value chain that is critical to the transformation and long-term development of the country’s food systems. Through the initiative, FMN has empowered entrepreneurs and young innovators whose groundbreaking inventions and ideas are progressively driving the Nation’s quest for food security. These success stories reinforce FMN’s role as a pioneer in building resilient food systems.
With this year’s theme, FMN aims to support innovative solutions that can overcome impediments to the attainment of long-term growth in livestock farming in Nigeria, thereby strengthening the livestock value chain and improving productivity across the sector.
Livestock farming plays a crucial role in Nigeria’s food security and economic development but continues to face challenges such as disease outbreaks, poor farm practices, limited access to modern technologies etc., FMN, through the PFI seeks to bring to the fore, innovative practices that can provide viable solutions to these existing and emerging challenges.
“Through the FMN Prize for Innovation (PFI), the Company continues to champion Nigeria’s Food security agenda,” said Mr. Boye Olusanya, GMD/CEO, FMN. “Since inception in 2021, we have nurtured, and financially supported about eight businesses whose scale up is over 50% based on the invaluable support and resources provided to them by the Company. Through our consistent actions and investments in Nigeria, we have demonstrated our unwavering commitment to local content development to reduce the nation’s dependency on imported raw materials.”
Also speaking on the sustainability of the initiative, Mr. Sadiq Usman, Group Director, Strategy and Stakeholder Relations, FMN stated “The sustenance of the FMN Prize for Innovation is premised on the process and the passion of the team that manages the process.
“Over the years, we have established a growth-driven process that ensures that we don’t just provide financial support for the winners of the prize but also provide them with insights and mentorship that ensures that they effectively utilize the funds for their business scale up. More so, by associating with the brand, they also have access to a platform that gives their products/ services a certain level of credibility that attracts investors, a reward that some of our past winners testified to.”
The competition is in two categories: one for Nigerian SMEs in the agro-allied sector, with practicable, scalable innovations in livestock farming, and the second is for students, encouraging them to propose bold, forward-thinking ideas on innovations in livestock farming. A panel of distinguished judges from the agriculture and investment sectors will select the winners. Substantial cash prizes ranging from N5 million for the top SME, N3, million, and N2 million for the first and second runners-up respectively. In the student category, winning ideas receive financial support of N300,000, N200,000, and N100,000 for the winner, first and second runners-up respectively. Winning participants also get the opportunity for a one-year mentorship and industry exposure to help scale their projects.
Since its inception, the FMN Prize for Innovation has played a pivotal role in advancing Nigeria’s agricultural sector. By addressing key challenges in livestock farming, this year’s edition further strengthens FMN’s mission to reduce import dependency, foster rural development, and drive economic diversification.
Interested applicants can visit https://www.fmnplc.com/prizeforinnovation/ or follow FMN’s social media platforms for more details.
By Modupe Gbadeyanka
A hotline number, 0800 123 5264, for Nigerians to report any MRS Oil Nigeria Plc filling stations selling Premium Motor Spirit (PMS), commonly known as petrol, above the approved pump price of N739 per litre, has been released by Dangote Petroleum Refinery.
The private refiner said the number was now active nationwide, enabling consumers to promptly report violations and help maintain fair pricing across over 2,000 MRS stations.
This measure follows the refinery’s recent commencement of nationwide PMS sales at N739 per litre—a strategic intervention aimed at stabilising fuel prices and easing the financial burden on Nigerians during the festive season.
“We encourage Nigerians to avoid purchasing PMS at inflated prices when locally refined fuel is available at N739 per litre.
“Report any MRS station selling above this price by calling our hotline. Together, we can ensure that the benefits of this price reduction reach every consumer,” the company stated in a statement.
The organisation stressed its mission to deliver affordable, high-quality fuel while safeguarding national economic interests, reaffirming its commitment to steady supply, backed by a guaranteed daily output of 50 million litres, and warned against attempts to create artificial scarcity or manipulate supply.
Regulatory authorities have been urged to remain vigilant and take decisive action against unpatriotic practices.
By refining locally at scale, Dangote Refinery is reducing Nigeria’s dependence on imports, conserving foreign exchange, stabilising the Naira, and strengthening energy security. This initiative represents a significant milestone in the country’s journey toward sustainable energy solutions and economic recovery.
The refinery also issued a stern warning against attempts by unscrupulous operators to create artificial scarcity in response to the price reduction, calling on government agencies to act decisively.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable. We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the statement added.
Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.
By Bon Peters
The Airport Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA) at Omagwa Rivers State has praised the Customs Area Controller for Customs Area 1 Command, Comptroller Salamatu Atuluku.
At the end-of-the-year party attended by stakeholders, including the leader of the association’s chapter, Mr Charles Onyema, said the customs officer has done well in stakeholder engagement and trade facilitation.
At the event held last Friday, he said his association has been enjoying a very cordial relationship with other organisation in the ecosystem.
“You can see what is happening today, everybody is working together and our operations here are seamless,” he noted.
He stated that apart from creating a very robust business environment for his members and other stakeholders to operate, he has taken a decision to build and commission a befitting ANLCA Secretariat which would be completed soon and be commissioned by the ANLCA national president, Mr Emenike Nwokeoji.
The ANLCA chapter chief said since “Comptroller Salamatu Atuluku assumed office at Customs Area 1, Port Harcourt Command, it has been a different ball game, facilitating trade and increasing Revenue generation.”
“I remember I told her she was a mother during her maiden visit to the airport.
“You know when you have a woman in charge of an affair, food will not lack, compassion will not lack and motherly love will not lack.
“She is very wonderful in stakeholder engagement, revenue generation and trade facilitation,” Mr Onyema enthused.
Projecting into the future, Mr. Onyema said the year 2026 would be better for his members, adding that he has advised them on financial discipline which he said would help them during the trying period.
By Adedapo Adesanya
The federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.
The government also declared Thursday, January 1, 2026, for the New Year celebration.
The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.
According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.
Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.
He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.
Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.
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