A Boost for Nigerian MSMEs
The Nigerian government has announced an ambitious initiative to reward the country’s best-performing Micro, Small, and Medium Enterprises (MSMEs) with prizes worth over N220 million. The announcement was made by Temitola Adekunle-Johnson, Senior Special Assistant to President Bola Ahmed Tinubu on Job Creation and MSMEs, during the launch of the 7th National MSMEs Award. The initiative underscores the government’s commitment to empowering small businesses and driving economic growth.
Registration Details: How to Participate
The registration portal for the National MSMEs Award will open on Friday, March 7, 2025, and close on April 7, 2025. Nigerian businesses are encouraged to register and showcase their contributions to the economy. Adekunle-Johnson emphasized that the awards will include a dedicated category for businesses owned by persons with disabilities (PWDs), ensuring inclusivity and recognition for all entrepreneurs.
Prizes and Rewards: Transforming Lives
This year’s awards will offer life-changing prizes to winners, including:
Houses
Shops
Cars
Cash prizes
The overall winner will receive a comprehensive package worth over N220 million, comprising a house, shop, car, and N20 million in cash. Adekunle-Johnson highlighted the transformative impact of these rewards, stating, “We want someone to say, ‘It was under Tinubu’s government that I got my own shop, house, or car.’”
Recognition and Financial Interventions
The awards will recognize MSMEs across ten broad categories, celebrating their innovation, resilience, and contribution to Nigeria’s economy. The screening process will involve representatives from key government agencies, including:
National Information Technology Development Agency (NITDA)
Standards Organisation of Nigeria (SON)
Bank of Industry (BOI)
This initiative complements other financial interventions by the Federal Government aimed at supporting small businesses and fostering economic development.
Why This Matters
MSMEs are the backbone of Nigeria’s economy, contributing significantly to job creation and GDP. By rewarding outstanding businesses, the government aims to:
Encourage innovation and excellence among entrepreneurs.
Provide tangible support to small businesses, enabling them to scale and thrive.
Promote inclusivity by recognizing the contributions of PWD-owned businesses.
What’s Next?
Entrepreneurs and small business owners are encouraged to prepare their applications and register on the portal when it opens on March 7, 2025. The awards ceremony promises to be a landmark event, celebrating the achievements of Nigeria’s MSMEs and inspiring future generations of entrepreneurs.
With this initiative, the Tinubu administration reaffirms its commitment to creating opportunities and improving the lives of Nigerians through targeted economic interventions.
