The Federal Government has announced the commencement of applications for the Eighth Micro, Small and Medium Enterprises (MSMEs) Awards, with a total of 100 outstanding businesses set to share over N1 billion.

It explained that the programme, designed to boost entrepreneurship and assist small businesses countrywide, forms part of broader efforts to drive economic expansion, create jobs, and encourage innovation within the MSME sector.

Special Adviser to the President on Job Creation and MSMEs, Temitope Adekunle Johnson, stated this at a press conference in Abuja on Tuesday.

Johnson announced that while application for the competition will open from April 7 to May 7, the grand finale holds on June 27, coinciding with the World MSME Day.

He noted that while past editions saw winners receive houses, cars, shops and other prizes, most beneficiaries this year will be awarded substantial grants to help boost their businesses.

“The President wants MSMEs that win this cash prizes to be able to say in the future that their businesses expanded because they got these grants from some of our partners. This is the year that they get that cash injection, which is not a loan in any way,” he said.

He added that the competition will feature 12 categories, with the top three finalists in each category invited to Abuja for the grand finale. Johnson also said this year’s edition is themed the “Renewed Hope Edition.”

He further explained that the awards would cut across key sectors of the economy, including agriculture, manufacturing, Information Communication Technology, creative industries, and services, to ensure inclusivity and broad participation. According to him, the initiative is tailored to identify and reward enterprises that have demonstrated innovation, resilience, and measurable impact within their communities.

Johnson emphasised that beyond financial support, winners would also benefit from increased visibility, networking opportunities, and access to markets and mentorship that could help scale their operations. He noted that the government is leveraging the awards as a platform to spotlight success stories and inspire other entrepreneurs across the country.

He also reassured prospective applicants of a transparent and merit-based selection process, adding that assessors would be engaged to ensure credibility. The government, he said, remains committed to strengthening the MSME ecosystem as a critical driver of Nigeria’s economic diversification and sustainable development.

In their separate remarks, representatives of sponsors including the Raw Materials Research and Development Council (RMRDC), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), National Agency for Food, Drug Administration and Control (NAFDAC), Corporate Affairs Commission (CAC) among others reaffirmed their commitment to supporting the Initiative, describing it as a critical platform for strengthening Nigeria’s MSME ecosystem.

They noted that their collaboration reflects a shared resolve to provide regulatory guidance, capacity building, and access to opportunities that will enable small businesses to thrive. The agencies also encouraged entrepreneurs across the country to take advantage of the awards to showcase their innovations and expand their reach.

A representative of NAFDAC, Sarah Ajayi, said submissions that demonstrate value addition, strong local content, and innovation stand a higher chance of progressing in the competition. (The Guardian)

•Special Adviser to the President on Job Creation and MSMEs, Temitope Adekunle Johnson, addressing the press on Tuesday.