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 move aimed at strengthening small businesses and boosting economic growth.
The disclosure was made in Abuja by the Senior Special Adviser to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson.
Application Opens April 7 
Adekunle-Johnson said the application portal for the awards will open on April 7 and close on May 7, urging MSMEs nationwide to take advantage of the opportunity.
He explained that the 2026 edition, themed “Renewed Hope for MSMEs,” will prioritise direct financial grants.
“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.
Shift to Direct Funding
According to him, the initiative marks a shift from previous editions that focused on material rewards such as cars, houses and shops.
He noted that the new approach is designed to provide immediate financial support tailored to business needs.
Adekunle-Johnson added that the government, in collaboration with partners, will ensure wider distribution of grants across different categories, extending benefits beyond just top winners.
Mentorship and Market Access
He said beneficiaries will also receive mentorship programmes coordinated by relevant government agencies, alongside post-award support such as business advisory services and access to markets.
Outstanding MSMEs may also be supported to participate in international exhibitions, providing exposure and growth opportunities.
The awards, he noted, will recognise innovation, creativity, job creation and the use of technology in business operations.
Focus on Transparency
The presidential aide acknowledged challenges recorded in previous editions, particularly poor-quality applications, but assured that efforts are ongoing to improve participation and awareness.
He emphasised that the selection process will remain transparent and merit-based.
The grand finale of the awards is scheduled for June 27 to commemorate the World MSME Day.
Compliance Key to Selection
A representative of the National Agency for Food and Drug Administration and Control, Sarah Ajayi, said about 12 categories will be featured across key sectors of the economy.
She listed areas such as manufacturing, agriculture, textiles, creativity, innovation, and beauty and wellness.
Ajayi stressed that compliance will play a major role in the selection process, urging applicants to provide proper documentation, including regulatory approvals, tax records and certifications.
She also advised participants to submit quality video presentations showcasing their production processes and value addition.
Stakeholders Pledge Support
Other stakeholders at the briefing pledged support for the initiative, assuring collaboration to ensure credible selection, regulatory compliance and effective post-award mentorship.
Background
The National MSME Awards is an annual initiative of the Federal Government designed to promote entrepreneurship, innovation and small business growth across Nigeria.
MSMEs remain a critical part of the country’s economy, contributing significantly to employment and economic development despite challenges such as limited access to finance, infrastructure gaps and regulatory constraints.
The shift toward direct financial grants represents a significant policy adjustment aimed at delivering more sustainable impact compared to previous reward-based models.
Experts note that access to finance remains one of the biggest obstacles facing small businesses, and targeted funding could help enterprises scale operations, create jobs and improve productivity.
Beyond funding, the inclusion of mentorship and market access support signals a more comprehensive approach to enterprise development.
However, analysts say the success of the programme will depend on transparency, effective monitoring and the ability to reach genuinely deserving businesses.
If properly implemented, the initiative could strengthen the MSME sector and contribute meaningfully to economic growth and job creation.
