The Federal Government has announced plans to distribute more than N1 billion to Micro, Small and Medium Enterprises (MSMEs) as part of the 2026 National MSME Awards, in a renewed effort to strengthen small businesses and drive economic growth across the country.
This was revealed by the Senior Special Adviser to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson, during a media briefing held in Abuja on Tuesday. He disclosed that the application portal for the awards will officially open on April 7 and close on May 7, encouraging MSMEs from all parts of Nigeria to apply within the given period.
Adekunle-Johnson explained that this year’s edition, themed “Renewed Hope for MSMEs,” will focus more on providing direct financial support to businesses rather than material rewards.
“This year, we are focusing more on funding, giving grants that can directly support and grow MSME businesses.
“We are going to be spending, with the support of our partners, up to about one billion naira for these awards,” he said.
He noted that this marks a clear departure from previous editions of the awards, where prizes such as cars, houses, and shops were the major incentives. According to him, the new structure is designed to address the immediate financial needs of businesses and enable sustainable growth.
The presidential aide further stated that the government, working closely with its partners, aims to ensure that the financial rewards are distributed more widely across different categories. He added that the initiative will extend beyond just the top three winners, allowing more participants to benefit from the programme.
Beyond financial grants, Adekunle-Johnson highlighted that winners will also gain access to mentorship programmes coordinated by relevant government agencies. These agencies will provide continued support after the awards, including business advisory services and opportunities to access new markets.
He also mentioned that exceptional MSMEs may be given the chance to participate in international exhibitions, helping them expand their reach and visibility on a global scale.
The awards will recognise businesses that demonstrate excellence in innovation, creativity, job creation, and the effective use of technology. However, Adekunle-Johnson acknowledged that past editions faced challenges with low quality applications. He assured that steps are being taken to improve awareness and encourage more serious and competitive entries nationwide.
He emphasized that the selection process will remain transparent and strictly merit based, ensuring fairness for all participants.
According to him, the grand finale of the awards is scheduled to take place on June 27, in celebration of the United Nations World MSME Day.
Also speaking at the briefing, a representative of the National Agency for Food and Drug Administration and Control, Mrs Sarah Ajayi, revealed that about 12 categories will be featured in the awards, covering key sectors of the economy.
She listed these sectors to include manufacturing, agriculture, textiles, creativity, innovation, as well as beauty and wellness.
Ajayi stressed that compliance will play a major role in the selection process, urging applicants to submit proper documentation such as regulatory approvals, tax records, and relevant certifications.
She also advised participants to present high quality video submissions that clearly showcase their production processes and value addition.
Other stakeholders present at the event expressed their support for the initiative, pledging to collaborate in ensuring a credible selection process, adherence to regulations, and effective post award mentorship to boost the growth and sustainability of MSMEs across Nigeria.
