First female winner emerges in FMN Prize for Innovation as grand prize doubles

…Drives Cassava Innovation Through SME Support

For the first time ever,  a female entrepreneur emerged as the grand prize winner in the Flour Mills of Nigeria (FMN) Prize for Innovation (PFI) initiative. The competition now in its fifth year saw Kiyoko Foods’ Victoria Ogwanighie outperforming more than 2,700 applicants to clinch the grand prize on Friday.

The fifth season of the competition, which focused on “Innovative Practices in Cassava Production and Processing”, recorded a substantial increase in financial support for small and medium enterprises (SMEs).

During the event, streamed live on YouTube, John G. Coumantaros FMN Chairman doubled the prize money for the top three finalists. The winner’s prize rose from N5 million to N10 million, while the first and second runners-up saw their rewards increased to N6 million and N4 million respectively. Coumantaros also awarded N1 million each to the remaining two finalists to encourage industrial solutions within the cassava value chain.

Kiyoko Foods clinches grand prize for nutrition innovation

Following highly competitive pitches from the top five finalists, Kiyoko Foods Ltd, founded by Victoria Ogwanighie, emerged as the overall winner. The company processes cassava into nutrient-rich snacks called Sorghud Cheese Balls. This locally produced alternative to conventional snacks aims to improve child nutrition while significantly reducing post-harvest losses.

By transforming surplus cassava into affordable, high-quality food options, the project creates commercial value for local farmers and supports sustainable food systems.

As the grand prize winner, Kiyoko Foods Ltd received N10 million in equity-free capital alongside corporate benefits, including brand promotion and strategic mentorship from FMN to scale its business operations.

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The first runner-up position was secured by Pneedles Limited, owned by Joshua Attat, which received N6 million. The firm converts cassava peels, an abundant agricultural waste, into sustainable, plant-based leather to curb environmental pollution and advance circular economy practices.

Bach and Moen Ltd, founded by Valentine Okoli, finished as second runner-up, securing N4 million. Okoli designed decentralized cassava processing hubs that enable smallholder farmers to rapidly convert fresh roots into shelf-stable convenience foods, such as instant Abacha, preventing spoilage within hours of harvest.

Strategic investments target structural gaps in agriculture

The final selection round was evaluated by a technical panel of industry experts. New judges Yewande Kazeem, a marketing specialist and founder of Wandieville, and Kolawole Adeniji, Chairman of Agro Services Ltd, served alongside returning judges Adenike Adeyemi, a Trustee at Youth Business International, and Sadiq Usman, MD of FMN Agro. The remaining top-five participants, Amsadaf Ventures, founded by Sadiq Muhammad, and Farmavi Agro, led by Rashidat Ayoola Oluwafemi, each received N1 million under a special commendation package.

“The FMN Prize for Innovation reflects our core drive to build sustainable food systems in Nigeria and Africa,” Coumantaros. “These innovators are providing real-world commercial solutions. Our goal is to ensure that through increased funding and corporate mentorship, these businesses are integrated into the wider industrial ecosystem to drive long-term economic growth.”

FMN Agro MD Sadiq Usman noted that the initiative addresses a major structural gap in the agricultural sector. Despite high local cultivation volumes, Nigeria remains a major importer of industrial cassava derivatives. Usman emphasised that the innovations presented during the fifth season offer a viable pathway to translate raw agricultural output into high-value industrial materials, reducing import dependency and strengthening the national food system.