FMN, a leading diversified Pan-African Food and Agro-allied Group, has successfully concluded the fifth edition of its Prize for Innovation (PFI), with Victoria Ogwanighie making history as the first female winner in the competition's five-year history.
Grand Finale Event
The live grand finale was broadcast on FMN TV, GoldMyne TV, and Pulse TV YouTube Channels on Friday, May 15, 2026. This season focused on “Innovative Practices in Cassava Production and Processing” and featured a significant increase in prize money and financial support for small and medium enterprises.
Increased Prize Money
During the concluding event, FMN Chairman Mr. John G. Coumantaros, who also served as the special guest of honour, doubled the prize money for the top three finalists. The winner received N10,000,000 (up from N5,000,000), the first runner-up got N6,000,000 (up from N3,000,000), and the second runner-up received N4,000,000 (up from N2,000,000). Additionally, the last two finalists were each awarded N1,000,000 to encourage industrial solutions within the cassava value chain.
The Winners
After highly competitive pitches from the top five finalists, Kiyoko Foods Ltd, founded by Victoria Ogwanighie, emerged as the winner. Kiyoko Foods innovatively transforms cassava into nutrient-rich cheese balls called Sorghud Cheese Balls, a locally-produced snack designed to improve child nutrition while reducing post-harvest losses. By converting surplus cassava into affordable, high-quality cheese balls, the project creates value for farmers and supports sustainable food systems.
The first runner-up was Pneedles Limited, owned by Joshua Attat, which converts cassava peels into sustainable, plant-based leather, reducing environmental pollution and supporting circular economy practices. The second runner-up was Bach and Moen Ltd, founded by Valentine Okoli, which developed cassava processing hubs that enable smallholder farmers to transform fresh cassava into high-value food products with longer shelf life, such as instant Abacha and nutritious cassava-based snacks.
Benefits for Winners
Victoria Ogwanighie received N10 million in prize money, along with brand promotion by FMN and mentorship to support business growth and scaling. Joshua Attat was rewarded N6 million for his innovation, while Valentine Okoli received N4 million. The other two finalists, Amsadaf Ventures by Eng. Sadiq Muhammad and Farmavi Agro by Rashidat Ayoola Oluwafemi, each received N1 million as part of the chairman's special reward package.
Statements from Officials
Mr. John G. Coumantaros, Chairman of FMN, said: “The FMN Prize for Innovation reflects the core of our business, which is the unwavering drive to build sustainable food systems in Nigeria and progressively in Africa. These SMEs were highly impressive and their products are greatly innovative. I will continue to support Nigerian SMEs as they are FMN's partners in food self-sufficiency drive.”
Mr. Sadiq Usman, MD of FMN Agro and Director of Strategic Engagement Partnership, FMN Holdings Ltd, remarked: “The completion of this fifth edition represents a significant milestone in our five-year journey of strategic investment in local content. With over 2,700 entries this year from both SME and students' categories, the scale of participation confirms that the PFI has become a vital platform for addressing Nigeria's industrial gaps.”
Judging Panel
The grand finale selection process was overseen by a panel of experts, including new judges Yewande Kazeem, a marketing specialist and founder of Wandieville, and Farmer Kolawole Adeniji, Chairman of Agro Services Ltd. They served alongside returning judges, including Mr. Sadiq Usman and Adenike Adeyemi, Trustee at Youth Business International.
Winner's Reaction
Victoria Ogwanighie, founder of Kiyoko Foods Ltd, said: “I am exceedingly grateful for this experience and support. I am still very much overwhelmed with the reality of being the first female winner since the inception of the initiative. I applied for the fifth season on the day it was meant to close, so you can imagine my happiness when I was called for the second level screening and further selected as a finalist. I know that we have a great product in our Sorghud Cheese Balls, and I firmly commit that we will use the prize money effectively and efficiently to scale our business and continue to be of great value for the nation and the global community.”
About FMN
Incorporated on September 29, 1960, as a limited liability company and pioneer wheat miller in Nigeria, Flour Mills of Nigeria (FMN) has evolved into one of the biggest brands in the food and agro-allied sector in Africa. The group has made strategic investments across key value chains of grains, sugar, cassava starch, feeds and protein, and edible oil and fats. For over six decades, FMN has been committed to its purpose of feeding and enriching lives every day, producing a wholesome portfolio of food options through its iconic food brand, Golden Penny.
