The Federal Government has announced plans to reward the grand winner of the 2025 National Micro, Small, and Medium Enterprises (MSMEs) Award with prizes worth over N220 million, including a house, commercial shops, vehicles, and cash incentives. Additionally, winners across other categories will receive prizes collectively valued at over N50 million, reinforcing the government’s commitment to recognizing and supporting outstanding small businesses nationwide.
Speaking at a press briefing in Abuja to unveil the eighth edition of the National MSMEs Award, the Senior Special Assistant to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson, revealed that the awards ceremony will take place during the 2025 MSMEs Week. This event will coincide with the 2024 United Nations World MSMEs Day, further amplifying the importance of small businesses in national development.
Adekunle-Johnson emphasized that this initiative aligns with President Bola Tinubu’s vision for economic growth by empowering small business owners. Notably, for the first time, entrepreneurs living with disabilities will be included in the competition, allowing them to compete for various prizes in recognition of their contributions to the economy.
“In our continuous effort to foster inclusivity, we have introduced a category for businesses owned by persons with disabilities (PWDs). This will provide them with an opportunity to showcase their impact on Nigeria’s economic landscape,” he stated.
He further elaborated that the overall winner will receive a prize package valued at a minimum of N220 million, while category winners across ten award segments may receive prizes worth approximately N70 million each.
Additionally, Adekunle-Johnson announced that President Tinubu has approved an increase in grants for outstanding MSMEs, doubling the previous grant allocation from N150,000 to N300,000. This financial support is designed to help small enterprises expand their operations and improve productivity.
“If you own an MSME and your products are recognized as exceptional, you may qualify for a grant. This initiative underscores the administration’s determination to ensure that micro-businesses evolve into small enterprises, while small businesses scale up into large companies,” he added.
The selection process for the awards will involve collaboration with key government agencies, including the National Information Technology Development Agency (NITDA), the Standards Organisation of Nigeria (SON), the Bank of Industry (BOI), and other relevant stakeholders.
