The Federal Government has announced plans to disburse over ₦1 billion to Micro, Small and Medium Enterprises (MSMEs) through the 2026 National MSME Awards.
The Senior Special Adviser to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson, made this known during a media briefing in Abuja on Tuesday, March 31.
He disclosed that the application portal for the awards will open on April 7 and close on May 7, encouraging MSMEs across the country to participate.
Adekunle-Johnson explained that the 2026 edition, themed “Renewed Hope for MSMEs,” will focus primarily on financial grants aimed at boosting 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 one billion naira for these awards,” he said.
He noted that this marks a departure from previous editions where winners received items such as cars, houses, and shops. According to him, the new model is designed to provide direct financial support tailored to the immediate needs of businesses.
The presidential aide added that, in partnership with relevant organisations, the government will expand the number of beneficiaries, ensuring that support extends beyond the top three winners in each category.
He also said winners will benefit from mentorship programmes coordinated by government agencies, alongside post-award support such as business advisory services and access to markets. Outstanding participants may also be sponsored to attend international exhibitions.
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Adekunle-Johnson stated that the awards will recognise excellence in areas such as innovation, creativity, job creation, and the use of technology.
He acknowledged that previous editions recorded issues with low-quality submissions, noting that efforts are underway to improve awareness and encourage more credible applications nationwide.
He assured that the selection process will remain transparent and merit-based, adding that the grand finale is scheduled for June 27 to mark the United Nations World MSME Day.
Also speaking, a representative of the National Agency for Food and Drug Administration and Control, Mrs Sarah Ajayi, said the awards would feature about 12 categories spanning key sectors of the economy.
She listed these to include manufacturing, agriculture, textiles, creativity, innovation, and beauty and wellness.
Ajayi emphasised that regulatory compliance will be a major criterion in the selection process, urging applicants to submit proper documentation such as approvals, tax records, and relevant certifications.
She also noted that participants are required to provide quality video presentations showcasing their production processes and value addition.
Other stakeholders at the briefing expressed support for the initiative, pledging collaboration to ensure a credible selection process, adherence to regulations, and effective post-award mentorship to drive the growth and sustainability of MSMEs across the country.