The Federal Government of Nigeria has announced a reward scheme for micro, small, and medium enterprises (MSMEs), with prizes exceeding ₦220 million. This initiative is part of the 7th National MSMEs Awards, aimed at recognizing and supporting outstanding businesses across the country. The grand prize winner will receive a house, shop, car, and a cash prize, collectively valued at over ₦220 million.
The application portal for the awards will open from March 7 to April 7, 2025, allowing businesses to register and compete for the prestigious prizes. In an effort to be more inclusive, this year’s edition features a special category for businesses owned by persons with disabilities, acknowledging their contributions to Nigeria’s economy.
A screening committee, made up of key government agencies such as the National Information Technology Development Agency (NITDA), the Standards Organisation of Nigeria (SON), and the Bank of Industry (BOI), will oversee the selection process. The government has assured that transparency and fairness will be maintained throughout the evaluation.
This initiative highlights the Federal Government’s commitment to empowering MSMEs, which play a crucial role in job creation and economic growth. By providing financial and structural support, the government aims to boost small businesses and enhance their capacity to thrive in a competitive market.
