The Federal Government has announced a prize package exceeding N220 million for the winner of the 2025 National Micro, Small, and Medium Enterprises (MSME) Award, while other category winners will receive rewards worth over N50 million.
Temitola Adekunle-Johnson, Senior Special Assistant to the President on Job Creation and MSMEs, made this known on Monday during a press briefing in Abuja, unveiling the eighth edition of the National MSME Awards.
Grand Prize and MSME Week 2025
The grand prize winner will receive a house, shops, cars, and cash prizes as part of the 2025 MSME Week celebrations.
The annual MSME Award aligns with the United Nations World MSMEs Day 2024, recognizing and supporting outstanding small businesses in Nigeria.
Registration Details for MSMEs
Adekunle-Johnson announced that the registration portal for MSMEs will open on March 7, 2025, and close on April 7, 2025. All eligible Nigerian businesses are encouraged to apply.
Support for Entrepreneurs with Disabilities
The government has also included a category for Persons with Disabilities (PWDs), acknowledging their contribution to the Nigerian economy.
“As part of our commitment to inclusivity, we have created a PWDs category, allowing businesses owned by persons with disabilities to compete for prizes,” he stated.
The grand prize winner will take home a total reward package worth N220 million, while winners in 10 other categories may receive prizes valued at approximately N70 million each.
Increased Government Support for MSMEs
Adekunle-Johnson also revealed that President Bola Tinubu has doubled the financial support for outstanding MSMEs, increasing grants from N150,000 to N300,000.
“If your MSME operates in a clinic or any industry and is deemed outstanding, you can receive a grant,” he explained. “This is part of our administration’s drive to help micro businesses grow into small enterprises, and for small businesses to scale into large companies.”
Screening and Selection Process
A screening committee consisting of key government agencies, including:
- National Information Technology Development Agency (NITDA)
- Standard Organisation of Nigeria (SON)
- Bank of Industry (BOI)
will evaluate applications and select the most deserving MSMEs for recognition.
The 2025 National MSME Awards aim to boost entrepreneurship, support innovation, and empower small businesses in Nigeria.
