The Federal Government has unveiled plans to reward innovative and resilient entrepreneurs with prizes worth over N220m at the eighth edition of the National MSMEs Award. The awards, which include houses, shops, cars, and cash prizes, are part of events to mark the 2025 MSMEs Week and celebrate the 2024 United Nations World MSMEs Day. This initiative underscores the government’s commitment to supporting small businesses and boosting economic growth.
Temitola Adekunle-Johnson, Senior Special Assistant to the President on Job Creation and Micro, Small, and Medium Enterprises, announced the initiative during a press briefing in Abuja on Monday. He revealed that the portal for registration and entries will open on Friday, March 7, 2025, and close on April 7, 2025, allowing Nigerian businesses to compete for the prestigious awards.
The National MSMEs Award is designed to recognise and reward outstanding small businesses that have demonstrated innovation, resilience, and excellence in their operations. This year’s edition introduces a new category for businesses owned by persons with disabilities (PWDs), acknowledging their contributions to Nigeria’s economy.
Adekunle-Johnson highlighted the significance of the awards, stating, “This year, we are going to have SMEs win stores, shops, cars, and money. The overall winner will go home with a house, a shop, a car, and a cash prize, totaling N220m. We are hoping to change the life of an individual with that total sum.”
The initiative reflects President Bola Tinubu’s administration’s commitment to alleviating the challenges faced by MSMEs and boosting their productivity. Adekunle-Johnson emphasised the government’s dedication to improving the business environment for small enterprises, which are critical to job creation and economic development.
“As part of our mandate to continuously improve, we have considered businesses of people living with disabilities. The PWDs category will be included, and they have opportunities to compete for various prizes,” he added.
The National MSMEs Award is part of broader efforts to support small businesses and drive economic growth. By recognising and rewarding outstanding entrepreneurs, the government aims to inspire innovation, encourage resilience, and foster a culture of excellence within the MSME sector.
The awards ceremony, scheduled to take place during the 2025 MSMEs Week, will bring together stakeholders from across the country to celebrate the achievements of small businesses and explore strategies for further growth. With prizes worth over N220m, the National MSMEs Award is set to make a significant impact on the lives of entrepreneurs and contribute to the development of Nigeria’s economy.
Follow us on Instagram.
https://www.instagram.com/businessnewsng?igsh=ZXpweTdjOGF1ZXdu
