FG to Disburse N1bn to MSMEs, Applications Open April 7

The Federal Government has announced plans to disburse over N1 billion to Micro, Small and Medium Enterprises (MSMEs) under the 2026 National MSME Awards, in a renewed push to support business growth across Nigeria.

The Senior Special Adviser to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson, disclosed this during a media briefing in Abuja on Tuesday.

Adekunle-Johnson said the awards portal will open on April 7 and close on May 7, urging MSMEs nationwide to submit their applications within the stipulated period.

He noted that the 2026 edition, themed “Renewed Hope for MSMEs,” will prioritise direct financial grants to beneficiaries.

“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.

According to him, the initiative marks a shift from previous editions that featured prizes such as cars, houses and shops, to a more targeted funding approach tailored to immediate business needs.

He added that, in collaboration with partners, the government will ensure wider distribution of financial rewards across various categories, with more beneficiaries receiving support beyond the top three winners.

Adekunle-Johnson also revealed that winners will benefit from mentorship programmes coordinated by relevant government agencies, including post-award support such as business advisory services and market access opportunities.

He further stated that outstanding MSMEs may be supported to participate in international exhibitions, while the awards will recognise excellence in innovation, creativity, employment generation and technology adoption.

Addressing past challenges, the presidential aide acknowledged issues with poor-quality applications and said efforts are ongoing to improve awareness and encourage more credible participation nationwide. He assured that the selection process will remain transparent and merit-based.

He added that the grand finale of the awards is scheduled for June 27, in commemoration of the United Nations World MSME Day.

A representative of the National Agency for Food and Drug Administration and Control (NAFDAC), Mrs Sarah Ajayi, disclosed that about 12 categories will be featured, covering sectors such as manufacturing, agriculture, textiles, creativity, innovation, and beauty and wellness.

Ajayi emphasised that compliance will be a key criterion in the selection process, urging applicants to provide proper documentation, including regulatory approvals, tax records and relevant certifications.

She also stressed the importance of submitting quality video presentations that showcase production processes and value addition.

Other stakeholders at the briefing pledged support for the initiative, assuring collaboration to ensure credible selection, regulatory compliance and post-award mentorship aimed at strengthening the growth and sustainability of MSMEs nationwide.