The Nigerian government has revealed a plan to reward innovative entrepreneurs with prizes totaling over N220m to celebrate the National MSMEs Award. The prizes include houses, shops, cars, and cash rewards as part of the 2025 MSMEs Week. The aim is to acknowledge and support exceptional small businesses in the country. The registration portal for all Nigerian businesses will be open from March 7, 2025, to April 7, 2025.
The President’s commitment to uplifting Nigerian businesses, including those run by people with disabilities, was emphasized. The overall MSME of the year stands to win prizes worth N220m, with other categories receiving rewards totaling around N70m each. The administration aims to improve the quality and global competitiveness of MSMEs’ products and change the lives of entrepreneurs positively.
President Tinubu has increased support for outstanding MSMEs to N300,000 from N150,000. This initiative is part of the government’s efforts to assist micro-businesses in becoming larger enterprises. A screening committee comprising of various government agencies will oversee the selection process for the awards.