FG Plans N1bn MSME Awards Package for 2026

The Federal Government plans to disburse over N1 billion to Micro, Small and Medium Enterprises (MSMEs) under the 2026 National MSME Awards.

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

Adekunle-Johnson said the awards portal would open on April 7 and close on May 7, urging MSMEs nationwide to submit applications.

He said the 2026 edition, tagged ‘Renewed Hope for MSMEs,’ would prioritise financial grants to support business growth.

“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 N1 billion for these awards,” he said.

According to him, the initiative marks a shift from previous editions that focused on cars, houses and shops as major rewards.

He explained that the new approach would provide MSMEs with direct funding tailored to their immediate business needs.

Adekunle-Johnson said the government, in collaboration with partners, would ensure wider distribution of financial rewards across categories.

The presidential aide added that more beneficiaries would receive support beyond the top three winners in each category.

Adekunle-Johnson said winners would benefit from mentorship programmes coordinated by relevant government agencies.

He noted that agencies would provide post-award support, including business advisory services and market access opportunities.

According to him, outstanding MSMEs may also be supported to participate in international exhibitions.

He said the awards would recognise innovation, creativity, employment generation and use of technology.

Adekunle-Johnson acknowledged challenges with poor-quality applications in previous editions.

He said efforts were ongoing to improve awareness and encourage serious participation across the country.

The presidential aide assured Nigerians that the process would remain transparent and merit-based.

According to him, the grand finale will hold on June 27 to commemorate the United Nations World MSME Day.

A representative of National Agency for Food and Drug Administration and Control (NAFDAC), Mrs Sarah Ajayi, said about 12 categories would be featured, covering key sectors of the economy.

Ajayi listed the sectors to include manufacturing, agriculture, textiles, creativity, innovation and beauty and wellness.

She said compliance would be critical in the selection process, while urging applicants to ensure proper documentation, including regulatory approvals, tax records and relevant certifications.

She reiterated that participants must also submit quality video presentations showcasing their production processes and value addition.

Other stakeholders at the conference pledged support for the initiative, assuring collaboration to ensure credible selection, regulatory compliance and post-award mentorship to enhance the growth and sustainability of MSMEs nationwide. (NAN)