Flour Mills of Nigeria (FMN) Launches Innovation Prize for Cassava Revolution
Nigeria's agricultural sector is about to undergo a transformative shift! Flour Mills of Nigeria (FMN) is calling for applications to its 5th annual Prize for Innovation, this time with a twist. The focus? Cassava production and processing, a move that could revolutionize Nigeria's small business landscape.
The 2026 edition, titled 'Innovative Practices in Cassava Production and Processing,' aims to foster local innovation in Nigeria's cassava value chain. Nigerian SMEs and student innovators in the food and agro-allied sector are invited to participate, with a chance to win substantial cash prizes. But here's the real game-changer: the top winners will receive N5 million, N3 million, and N2 million in the SME category, and N300,000, N200,000, and N100,000 in the student category, respectively. And that's not all—winners will also gain access to corporate mentorship and industry support, a crucial step towards commercial success.
This initiative addresses a critical issue in Nigeria's agriculture. Despite being the world's top cassava producer, Nigeria still imports a significant amount of cassava-based industrial derivatives. FMN's 2026 prize aims to change this by encouraging innovations that reduce dependency on imports and boost local industry.
The FMN CEO emphasized the company's commitment to supporting local innovators in building a self-sufficient food system. Cassava, he believes, is the key to unlocking industrial growth and economic progress in the food and agro-allied sectors. And this is the part most people miss—the initiative's potential impact on sustainable food systems and reduced reliance on imported goods.
Since 2021, FMN has supported 24 innovators with over N42 million in prizes and N200 million in structured support. Past themes have included food waste reduction and precision agriculture, but this year's focus on cassava could be a game-changer for Nigeria's small businesses.
The competition is open until March 16, 2026, and it's not just about the prizes. For MSMEs in the cassava ecosystem, it's a chance to integrate into stronger industry networks and access long-term growth opportunities.
FMN, a pioneer in Nigeria's wheat milling industry, has evolved into a leading food and agro-allied group in Africa. Their strategic investments in various sectors showcase their commitment to diversifying Nigeria's economy and empowering local businesses.
Nigerian Government Introduces Metering Program for Electricity Consumers
The Federal Government of Nigeria is taking a bold step towards energy reform! A new program, 'Buy-Meter-Now, Get-Refunded,' allows electricity consumers to purchase prepaid meters and receive refunds through energy credits. This initiative aims to accelerate nationwide metering and address the longstanding metering gap.
Eligible customers who buy prepaid meters will get their money back in the form of electricity credit over time. This innovative approach reduces the upfront cost burden on consumers and speeds up metering coverage. And this is where it gets controversial—it's similar to the Meter Asset Provider (MAP) scheme, but with a twist. Customers will be refunded over an undefined period, unlike MAP's fixed 36-month refund period.
Nigeria's metering gap has been a significant challenge, with millions of unmetered electricity customers. The government's metering programs, like NMMP and DISREP, have faced delays. This new initiative, backed by a $500 million World Bank fund, aims to change that.
Distribution companies have also launched free meter rollouts under programs like MAF. For consumers and MSMEs, especially those previously unmetered, this buy-now, get-refunded model offers a quick and practical solution, improving billing transparency and reducing disputes.
Industry experts believe that a combination of government programs, refund-linked purchases, and distribution company initiatives is key to Nigeria's power sector reform.
NCDMB Empowers Nigerian Youths with Videography and Cinematography Training
The Nigerian Content Development and Monitoring Board (NCDMB) is investing in the future of Nigeria's creative economy! A 5-day videography and cinematography training program has been launched to equip 50 Nigerian youths with in-demand skills in visual media production.
The training, organized in partnership with King-Faahji Nig. Limited, covers camera operation, video techniques, lighting, and visual storytelling. These skills are essential in today's digital media, entertainment, advertising, and online content industries.
Upon completion, participants will receive starter kits and cash support to kickstart their businesses or freelance careers in video production and related creative fields. NCDMB's initiative highlights its dedication to human capital development and entrepreneurship beyond the traditional energy sector.
This training is part of NCDMB's broader skills-building portfolio, which includes various programs targeting thousands of young Nigerians in technical and digital fields. By empowering youths with creative skills, NCDMB is fostering a vibrant and diverse creative economy in Nigeria.
What are your thoughts on these initiatives? Do you think the FMN's cassava focus will significantly impact Nigeria's small businesses? How do you see the government's metering program affecting the energy sector? And what role can NCDMB's training play in shaping Nigeria's creative industry? Share your insights and opinions in the comments!
