The Federal Government is set to roll out a major funding initiative aimed at supporting Micro, Small and Medium Enterprises (MSMEs), with plans to distribute more than N1 billion through the 2026 National MSME Awards.
Temitola Adekunle-Johnson, Senior Special Adviser to the President on Job Creation and MSMEs, announced this during a media briefing in Abuja on Tuesday.
He revealed that the application portal for the awards will open on April 7 and close on May 7, encouraging MSME operators across the country to apply.
According to him, the 2026 edition, themed “Renewed Hope for MSMEs,” will place greater emphasis on financial grants to help businesses expand and thrive.
He explained that, unlike previous editions where prizes such as cars, houses, and shops were given, this year’s focus would be on direct financial support tailored to the needs of businesses.
Adekunle-Johnson added that, with the backing of partners, the programme would ensure broader distribution of funds across different categories, allowing more participants—not just top winners—to benefit.
He also noted that successful applicants would gain access to mentorship programmes coordinated by relevant government agencies, along with post-award support such as business advisory services and opportunities to access new markets.
Outstanding beneficiaries, he said, could also be sponsored to participate in international trade exhibitions.
The awards will recognise enterprises that demonstrate innovation, creativity, job creation, and effective use of technology.
Addressing past challenges, Adekunle-Johnson acknowledged that earlier editions recorded low-quality submissions, adding that steps are being taken to improve awareness and encourage more serious participation nationwide.
He assured that the selection process would remain transparent and strictly merit-based.
The grand finale is scheduled for June 27, in line with the United Nations World MSME Day.
Speaking at the briefing, a representative of the National Agency for Food and Drug Administration and Control, Mrs. Sarah Ajayi, said about 12 categories would be featured, covering sectors such as manufacturing, agriculture, textiles, creative industries, innovation, and beauty and wellness.
She stressed the importance of compliance, urging applicants to provide proper documentation, including regulatory approvals, tax records, and relevant certifications, as well as clear video presentations showcasing their production processes and value addition.
Stakeholders present at the event also expressed readiness to support the initiative, pledging collaboration to ensure a credible selection process and sustained support for MSMEs across the country.