The Nigerian government has unveiled plans to reward Micro, Small, and Medium Enterprises (MSMEs) with prizes worth over N220 million as part of the 7th National MSMEs Award. The initiative, aimed at recognizing and supporting small businesses, underscores President Bola Ahmed Tinubu’s commitment to boosting the economy and improving the livelihoods of Nigerians.
Registration Portal Opens March 7
Temitola Adekunle-Johnson, Senior Special Assistant to the President on Job Creation and MSMEs, announced during a press briefing on Monday that the registration portal for the awards will open on Friday, March 7, 2025, and close on April 7, 2025. He encouraged all Nigerian businesses, including those owned by persons with disabilities (PWDs), to participate in the competition.
“The portal will be open from Friday, March 7, 2025, to April 7, 2025. We have considered businesses of people living with disabilities, so the PWDs category will be included. They have opportunities to compete for the various prizes,” Adekunle-Johnson stated.
Grand Prizes for Winners
This year’s awards will feature life-changing prizes for MSMEs, including houses, shops, cars, and cash rewards. The overall winner will receive a comprehensive package worth over N220 million, comprising a house, a shop, a car, and N20 million in cash.
“This year, SMEs will win stores, shops, cars, and money. The overall winner will go home with a house, store, car, and cash prize. We want to change the lives of some of these MSMEs; we want somebody to say it is under Tinubu’s government that I got my own shop, house, or car,” Adekunle-Johnson explained.
Recognition Across Ten Categories
The awards will recognize MSMEs across ten broad categories, celebrating their contributions to Nigeria’s economy. The screening committee includes key government agencies such as the National Information Technology Development Agency (NITDA), the Standard Organisation of Nigeria (SON), and the Bank of Industry (BOI).
Government’s Commitment to MSMEs
Adekunle-Johnson emphasized that the awards are part of broader financial interventions by the Federal Government to support small businesses. “We want to change the lives of some of these MSMEs; we want somebody to say it is under Tinubu’s government that I got my own shop, house, or car,” he said.
The 7th National MSMEs Award promises to be a transformative initiative for small businesses in Nigeria. By providing substantial rewards and recognition, the government aims to empower entrepreneurs, stimulate economic growth, and create job opportunities across the country.