FMN INVESTS N300M IN FOOD INNOVATION

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Flour Mills of Nigeria has invested more than N300m in 11 innovators and businesses through its FMN Prize for Innovation programme.

The company said the initiative was designed to support solutions aimed at improving food production, processing and sustainability in Nigeria and across Africa.

According to FMN, the programme has provided financial, technical and strategic support to innovators since it was launched in 2021.

The company said the investment forms part of its broader strategy to strengthen food security through innovation, local content development and investment across key agricultural value chains.

The initiative focuses on businesses developing solutions to challenges affecting food production and processing, including reducing losses and waste within the agricultural value chain.

FMN said its operations cover grains, sugar, cassava starch, animal feeds and protein, edible oils and fats, with more than 17 facilities across Nigeria.

The first edition of the innovation programme was launched in December 2021 under the theme, “Enabling Sustainable Food Systems.”

The company said the programme was established to identify and support home-grown solutions capable of improving productivity and building more sustainable food systems.

FMN added that continued investment in innovation would help strengthen local capacity and support the development of Nigeria’s food and agro-allied sector.