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 Adedapo Adesanya
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it recorded a 30 per cent reduction in gas imbalance on the country’s Western Network following the conclusion of its first-half 2026 Nigerian Gas Network Reconciliation (NGNR) Workshop.
The workshop brought together gas transporters, suppliers, shippers and off-takers to reconcile gas volumes traded between January and June 2026, while introducing a Network Entry/Exit Point Measurement Infrastructure Audit Template aimed at improving metering accuracy and accountability across the gas transmission network.
In a communiqué issued after the workshop, the authority said participants also reviewed the performance of the Nigerian Gas Transmission Network, assessed progress on major pipeline infrastructure projects, and received updates on the ELPS Gas Shrinkage Factor and Hydraulic Modelling Project.
Discussions focused on addressing metering gaps, improving network visibility through Supervisory Control and Data Acquisition (SCADA) integration, and enhancing system reliability ahead of the commissioning of the Ajaokuta-Kaduna-Kano (AKK) Pipeline System.
The workshop adopted key resolutions, including the execution of outstanding Network Exit Agreements, mandatory submission of measurement audit templates and closer collaboration among industry stakeholders to improve network pressure management.
Speaking at the closing session on behalf of the authority’s chief executive, Mr Rabiu A. Umar, the Director of Transportation Systems and Networks, Mr Joseph G. Musa, said the biannual reconciliation exercise had become critical to promoting equitable gas transactions, transparency, investor confidence and efficient network operations.
Mr Musa noted that since the NGNR process was introduced in 2023, it had significantly improved gas measurement, strengthened regulatory compliance through consequence management, reduced operational imbalances and contributed to a more reliable domestic gas supply.
The workshop concluded with participants adopting the reconciled H1 2026 gas volumes, reaffirming the authority’s commitment to a transparent, efficient and reliable domestic gas market.
By Modupe Gbadeyanka
An investment that supports growing food and agriculture companies across Africa that strengthen agricultural value chains has been made by Swedfund.
The organisation is putting down about $12 million to strengthen climate resilience in African food systems through the Acumen Resilient Agriculture Fund II (ARAF II).
By improving access to markets, finance and essential services, these companies help smallholder farmers become more resilient to climate and economic shocks.
Over 30 million smallholder farmers operate across Sub-Saharan Africa, accounting for 80 per cent of all farms and producing 70 per cent of the region’s food (IFAD). Yet many face limited access to finance, quality inputs, reliable buyers and market information. At the same time, they are among those most exposed to climate change and weather-related shocks, which threaten harvests, incomes and food security.
The investment has an ambition to reach around four million smallholder farmers through ARAF II’s portfolio companies. It also aims to meet the criteria of the 2X Challenge, which promotes investments that support women’s economic empowerment.
ARAF II invests in businesses that address key gaps in agricultural value chains, from improving market access and reducing post-harvest losses to expanding financial and digital services for farmers. By helping these businesses grow, the investment aims to improve productivity, strengthen local value chains and increase the resilience of food systems.
Swedfund invests alongside other development finance institutions and investors to help mobilise long-term capital for businesses that often struggle to access financing despite their potential to strengthen food security, climate resilience and economic development across Africa.
“Climate change is already affecting the livelihoods of millions of smallholder farmers across Africa. Investing in businesses that improve access to markets, finance and agricultural services helps farmers strengthen their resilience, increase productivity and build more stable incomes. That is essential for more resilient food systems,” the Investment Director of Food Systems and Strategic Investments at Swedfund, Ms Helen Hagos, said.
By Adedapo Adesanya
The Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Tinubu to order a probe into the alleged diversion, disappearance and misapplication of more than N6.79 billion in public funds within the Nigeria Police Force (NPF) and the Federal Ministry of Police Affairs.
The grave allegations are documented in the latest Annual Report of the Auditor-General of the Federation published on September 9, 2025.
SERAP said, “Anyone suspected to be responsible—including contractors, companies and public officials implicated in the report—should be promptly prosecuted, while all missing public funds, firearms and ammunition should be fully recovered, secured and properly accounted for.”
In the letter dated August 1, 2026, and signed by SERAP deputy director, Mr Kolawole Oluwadare, the organisation said: “The Auditor-General’s findings suggest a grave betrayal of the public trust and raise serious concerns about corruption and the management of public funds, police exhibits, firearms and ammunition.”
SERAP said: “The report also raises serious concerns over missing firearms and ammunition, the unauthorised use and release of police exhibits, failures to properly account for exhibits, and the insecure storage of firearms, creating significant risks to public safety and national security.”
According to the group, “The diversion of funds meant for policing, abandoned security projects, missing firearms and ammunition, and the misuse of police exhibits undermine the operational effectiveness of the Nigeria Police Force, weaken public confidence and may contribute to Nigeria’s worsening insecurity.”
The letter, read in part: “The report documented numerous alleged financial irregularities within the Nigeria Police Force and the Federal Ministry of Police Affairs, including payments for projects that were never executed, abandoned contracts, inflated contract costs, and irregular procurement.”
“The report also documented unretired cash advances, unsettled insurance claims, payments for services allegedly not rendered, and other suspected diversion and misapplication of public funds amounting to over ₦6.79 billion.”
“The allegations also include missing firearms and ammunition, the unauthorised use and release of police exhibits, failures to properly account for recovered firearms and other exhibits, and the insecure storage of firearms, posing serious risks to public safety and national security.”
“We would be grateful if the recommended measures are taken within seven days of the receipt and/or publication of this letter. If we have not heard from you by then, SERAP shall consider appropriate legal action to compel your government to comply with our request in the public interest.”
Some of the others include: N499,875,500.00 for the construction of Police College Phase II, Bashar, Plateau State; N12,931,000.00 for the rehabilitation of Block B, Department of Logistics and Supply (Works) building, Garki; N111,635,864.64 for the construction of 12 one-bedroom transit camp units and rehabilitation of the administration block at the NPF Pre-retirement Skills Acquisition Centre, Kudana, Kaduna State; N4,011,627.89 inserted as taxes to inflate a contract; N1,938,299,452.00 for 14 ongoing projects that were abandoned; N5,050,000.00 in monetary exhibits released without proper authorisation; N112,026,424.00 for outstanding allowances paid to officers to cover 2020 liabilities; and N6,000,000.00 as annual payment to the Inspector General of Police’s Senior Special Assistant on Revenue and Tax Matters.
Others include N10,080,000.00 as cash advances for the provision of office equipment and accessories for the NPF Database Management Centre; N438,066,845.73 for the supply of bulletproof vests, ballistic helmets and procurement of a Styr Punch Vistar troop carrier; N18,000,000.00 for the training of women in cosmetology and provision of empowerment kits in Ondo Central Senatorial District, Ondo State; N258,989,999.75 for the procurement of 10 JAC patrol vehicles for NPF outpost stations in Kano State; N30,853,250.00 as security allowances for personnel attached to the Ministry of Police Affairs; N681,406,593.18 for the settlement of insurance claims through insurance brokers; N1,628,108,434.18 for outstanding insurance policy liabilities for 2020/2021; N57,484,515.30 for the procurement of video cameras, customised umbrellas, gift bags and customised towels for the Nigeria Police Force Public Relations Office; N7,760,409.56 in withholding tax and value added tax that was not deducted from contracts awarded.
