Federal Government Allocates N1 Billion for MSMEs in 2026 National Award
The Federal Government is set to invest N1 billion in Micro, Small, and Medium Enterprises (MSMEs) as part of the 2026 National MSME Award initiative.
Mr. Temitla Adekunle Johnson, the Senior Special Adviser to the President on Job Creation and MSME, made this announcement during a media briefing in Abuja on Tuesday. He highlighted that the awards portal will open for submissions on April 7 and close on May 7, encouraging MSMEs nationwide to participate.
Titled ‘New Hope for MSMEs,’ the 2026 edition will emphasize fiscal subsidies aimed at bolstering business growth. Adekunle-Johnson remarked on the importance of financial support, stating, “This year, we are putting even more emphasis on financing and providing grants that can directly support and grow MSME businesses.”
He added that the government plans to allocate approximately NGN 1 billion for this initiative, with the backing of various partners. This edition marks a significant shift from previous years, which primarily focused on offering cars, homes, and stores as rewards.
The new approach will deliver direct funding tailored to the specific needs of MSMEs. According to Adekunle-Johnson, the government aims to collaborate with partners to ensure that financial incentives are distributed widely across different categories, allowing more beneficiaries than just the top performers to receive assistance.
Adekunle-Johnson also mentioned that awardees will have access to a mentorship program orchestrated by relevant government agencies, providing ongoing support through business advisory services and opportunities for market access. He emphasized the commitment to transparency throughout the selection process and reiterated that outstanding MSMEs will be encouraged to participate in international exhibitions.
Sara Ajayi, head of the National Agency for Food and Drug Administration and Control (NAFDAC), indicated that the awards will cover approximately 12 categories spanning vital sectors of the economy, including manufacturing, agriculture, textiles, creativity, innovation, beauty, and health. She urged applicants to maintain compliance with the selection criteria and ensure that they submit the necessary documentation, such as regulatory approvals and tax records, along with high-quality video presentations that showcase their production processes.
Other stakeholders present during the briefing committed to supporting the initiative, assuring that reliable selection, regulatory compliance, and post-award guidance will be prioritized to foster the growth and sustainability of MSMEs across the country. The grand finale of the awards will take place on June 27, coinciding with the United Nations World MSME Day.
