The Federal Government has announced a groundbreaking initiative to reward innovative and resilient entrepreneurs with prizes worth over N220 million as part of the 2025 National MSMEs Award.
Speaking at a press briefing, the Senior Special Assistant to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson, revealed that this year’s winners will receive houses, shops, cars, and cash prizes. The awards ceremony will coincide with the 2025 MSMEs Week, an annual event aimed at celebrating and supporting small businesses across Nigeria.
The National MSMEs Award, now in its eighth edition, is part of Nigeria’s efforts to commemorate the 2024 United Nations World MSMEs Day and promote entrepreneurship. Adekunle-Johnson emphasized that the government is committed to recognizing outstanding businesses, including those owned by persons with disabilities (PWDs), by introducing a dedicated category for them.
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“This year, we are elevating our support for small businesses. The overall MSME of the Year will walk away with a house, shop, car, and a cash prize, totaling N220 million,” he announced. “Other category winners will also receive substantial prizes, with some valued at N70 million each across ten broad categories.”
Entrepreneurs interested in participating in the 2025 National MSMEs Award can submit their entries from Friday, 7th March 2025, to 7th April 2025. The competition is open to all Nigerian businesses that meet the eligibility criteria.
Adekunle-Johnson also highlighted President Bola Tinubu’s unwavering support for MSMEs, stating that the government is taking proactive steps to alleviate their challenges and improve their capacity to compete globally.
“We want to transform the lives of Nigerian entrepreneurs. Our goal is for MSMEs to say, ‘It was under President Tinubu’s administration that I got my shop, house, or car,'” he said.
In a further boost to small businesses, President Tinubu has increased the MSME grant under the National MSME Clinics from N150,000 to N300,000. Entrepreneurs who demonstrate excellence in these clinics will be eligible for the enhanced grant.
“The Federal Government remains steadfast in supporting, encouraging, and rewarding MSMEs for their contributions to job creation and economic development. We are ensuring that micro-enterprises grow into small businesses and, eventually, large-scale enterprises,” Adekunle-Johnson added.
The selection and screening process for the National MSMEs Award will be overseen by a committee comprising the National Information Technology Development Agency (NITDA), the Standard Organisation of Nigeria (SON), the Bank of Industry (BOI), and other key government bodies.
With these strategic initiatives, the Federal Government is reinforcing its commitment to empowering Nigerian entrepreneurs, fostering business growth, and positioning MSMEs as drivers of economic prosperity.
