FG Announces N220 Million Prize for Outstanding MSMEs in 2025

The Federal Government of Nigeria has announced a prize package worth over N220 million for outstanding Micro, Small, and Medium Enterprises (MSMEs) as part of the 2025 National MSMEs Awards. The initiative aims to recognize and support exceptional small businesses across the country, offering a grand prize that includes a house, shop, car, and cash incentives.

Registration and Award Categories

Temitola Adekunle-Johnson, Senior Special Assistant to the President on Job Creation and MSMEs, revealed that the registration portal for the seventh National MSMEs Award will be open from March 7 to April 7, 2025. This initiative aligns with President Bola Tinubu’s commitment to enhancing the livelihoods of Nigerians by empowering small businesses.

Notably, this year’s edition introduces a new category for businesses owned by persons with disabilities, acknowledging their contributions to the Nigerian economy. This move is part of the government’s broader efforts to ensure inclusivity and equal opportunities for all entrepreneurs.

Grand Prize and Selection Process

The overall winner of the 2025 MSMEs Award will receive a house, shop, car, and a cash prize, with the total package valued at N220 million. Other finalists will also be recognized and rewarded across ten broad categories.

To ensure a transparent selection process, the screening committee comprises representatives from key government agencies, including:

• National Information Technology Development Agency (NITDA)
• Standards Organisation of Nigeria (SON)
• Bank of Industry (BOI)

These organizations will assess the applicants based on innovation, business impact, and potential for growth.

Boosting Economic Growth Through MSMEs

The government’s substantial reward for MSMEs underscores its recognition of small businesses as key drivers of job creation and economic development in Nigeria. By incentivizing excellence and innovation, the administration aims to inspire MSMEs to enhance product quality and expand their operations, ultimately increasing their competitiveness on a global scale.

Entrepreneurs across Nigeria are encouraged to seize this opportunity by submitting their applications within the specified timeframe. The program not only offers financial rewards but also serves as a platform to showcase the resilience and ingenuity of Nigerian businesses.

For more details and to apply, interested MSMEs should visit the official National MSMEs Awards portal when registration opens.