MSME Awards: FG launches ₦1 billion grant scheme for small businesses

The Federal Government says it will give out more than ₦1 billion to support small businesses in Nigeria through the 2026 National MSME Awards.

This was announced by the President’s Senior Special Adviser on Job Creation and MSMEs, Temitola Adekunle-Johnson, during a media briefing in Abuja.

He explained that the application portal will open on April 7 and close on May 7. Business owners across the country are encouraged to apply.

According to him, this year’s theme is “Renewed Hope for MSMEs,” and the focus will be on giving direct financial support to help businesses grow.

He said the government is moving away from giving prizes like cars and houses. Instead, winners will receive cash grants that can better meet their business needs.

Adekunle-Johnson added that more businesses will benefit this year, not just the top winners. The aim is to spread support across different categories.
Winners will also receive mentorship and guidance from government agencies.

This includes business advice, help with market access, and opportunities to attend international exhibitions.

He said businesses will be judged based on innovation, creativity, job creation, and use of technology.

The government also noted that past applications were sometimes of poor quality. Efforts are being made to improve awareness and encourage better submissions this year.

He assured Nigerians that the selection process will be fair and transparent.
The award ceremony will take place on June 27 to mark the United Nations World MSME Day.

A representative from NAFDAC, Mrs Sarah Ajayi, said there will be about 12 categories covering sectors like manufacturing, agriculture, textiles, creativity, innovation, and beauty.

She advised applicants to ensure they meet all requirements, including proper documentation such as regulatory approvals, tax records, and certifications. Applicants must also submit good-quality videos showing how their businesses operate.

Other stakeholders also promised to support the programme to ensure fairness, compliance, and continued support for businesses after the awards.