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Business (https://msmeafricaonline.com/category/business/)
Flour Mills of Nigeria (FMN) Targets Cassava Industrialization with N5m Innovation Prize for Nigerian SMEs and Students
Published 14 hours ago on February 12, 2026
Flour Mills of Nigeria (FMN) has launched the fifth edition of its annual Prize for Innovation (PFI 5.0), focusing on cassava production and processing. This initiative aims to foster homegrown solutions within Nigeria's cassava value chain, targeting registered Nigerian small and medium-scale enterprises in the food and agro-allied sector, as well as student innovators.
Under the SME category, winners will receive N5 million for first place, N3 million for second place, and N2 million for third place. In the student category, the top three innovators will receive N300,000, N200,000, and N100,000, respectively. Beyond the cash prizes, selected winners will gain access to corporate mentorship and industry support to help them commercialize their innovations and build sustainable enterprises.
The cassava focus addresses a longstanding gap in Nigeria's agricultural economy. Despite being the world's largest cassava producer, the country imports significant volumes of cassava-based industrial derivatives. FMN's 2026 prize aims to channel innovation towards reducing this dependency and strengthening local industrial capacity.
The Group Chief Executive Officer of FMN described the fifth edition as aligned with the company's broader industrial vision. He emphasized that the prize has consistently supported local innovators in developing practical solutions within Nigeria's food system, adding that cassava represents a strategic pathway to industrial self-sufficiency and economic progress across the food and agro-allied space. According to him, the initiative has helped to progressively reduce reliance on imported raw materials while promoting sustainable food systems.
Since its launch in 2021, the FMN Prize for Innovation has supported 24 innovators across four editions. The company has disbursed over N42 million in prize funding and committed over N200 million in structured support systems to help winning ideas scale into viable businesses. Previous themes have covered food loss and waste reduction, local content development, precision agriculture, and livestock farming.
FMN's management said the program's structure goes beyond financial rewards. By combining funding with mentorship and industry access, past winners have strengthened operations and moved closer to commercial viability. The company expects the fifth edition to deepen the pipeline of scalable cassava-focused solutions, particularly those with strong industrial applications.
Entries for PFI 5.0 are now open and will close on March 16, 2026. Interested innovators are required to submit applications through the official Prize for Innovation website.
For MSMEs operating within the cassava ecosystem, the competition presents not only funding but also a pathway into stronger industry networks and long-term growth opportunities.
Energy (https://msmeafricaonline.com/category/energy/)
FG Launches Buy-Meter-Now, Get-Refunded Program to Help Nigerians Access Electricity Meters
Published 16 hours ago on February 12, 2026
The Federal Government of Nigeria has launched a new program allowing electricity consumers to purchase prepaid electricity meters upfront and receive refunds through energy credit over time. This initiative aims to accelerate metering nationwide and close the long-standing metering gap.
Under the program, eligible customers who buy prepaid meters from authorized providers will receive refunds in the form of electricity credit, effectively returning the cost of the meter as they recharge their supply over a defined period.
The program is designed to support more Nigerians in obtaining meters sooner, instead of waiting for distribution under existing government metering projects that have faced delays, such as the National Mass Metering Programme (NMMP) and follow-on initiatives backed by the Distribution Sector Recovery Programme (DISREP).
Creative Industry (https://msmeafricaonline.com/category/creative-industry/)
NCDMB Launches 5-Day Videography and Cinematography Training for 50 Nigerian Youths
Published 16 hours ago on February 12, 2026
The Nigerian Content Development and Monitoring Board (NCDMB) has launched a five-day videography and cinematography training program aimed at equipping 50 Nigerian youths with practical skills in visual media production.
The training, which started on Monday, is organized in partnership with King-Faahji Nig. Limited and forms part of NCDMB's ongoing efforts to empower young people with creative and marketable skills.
Over the course of the program, participants will learn camera operation, video shooting techniques, basic lighting setup, and visual storytelling—skills that are increasingly in demand across digital media, entertainment, advertising, and online content sectors.
At the end of the five-day training, the youths will receive starter kits and cash support to help them launch their own businesses or work as freelancers in video production and related creative fields.
NCDMB stated that the initiative underscores its commitment to human capital development and entrepreneurship promotion in sectors beyond traditional energy jobs, expanding opportunities for youth participation in Nigeria's creative economy.
