The Federal Government has unveiled an exciting N220 million prize for the most exceptional micro, small, and medium enterprise (MSME) in Nigeria, set to be awarded at the 2025 National MSME Awards. The grand prize includes a house, a store, and a substantial cash reward, underscoring the government’s commitment to recognizing and nurturing the nation’s most outstanding small businesses.
In addition to the grand prize, winners in other categories will receive cash and property rewards valued at N50 million each. The selection process for the awards will be highly competitive, ensuring that only the best businesses, out of thousands of applicants, will emerge victorious.
The online business pitch contest will be open for entries from March 7 to April 7, 2025, across 10 distinct award categories. The 2024 edition of the awards attracted an impressive 70,000 entries, contributing significantly to the government’s job creation initiatives.
Tola Adekunle-Johnson, Senior Special Assistant to the President on Job Creation and MSMEs, emphasized that the awards align with President Bola Ahmed Tinubu’s ongoing commitment to supporting small business growth and fostering a thriving entrepreneurial ecosystem.
Minister of Finance, Wale Edun, further highlighted the government’s dedication to MSMEs, noting that in 2024, N55.657 billion was disbursed to manufacturers and MSMEs as part of the N200 billion Presidential Intervention Fund aimed at boosting job creation and economic growth.
Key stakeholders, including the Standards Organisation of Nigeria (SON), NEXIM Bank, and Access Bank Plc, have reiterated the importance of quality, regulatory compliance, and value addition in determining the award winners. These criteria will ensure that businesses recognized for their achievements not only excel in innovation but also adhere to industry standards and contribute meaningfully to Nigeria’s economic development.
With the 2025 awards set to shine a spotlight on the country’s brightest MSMEs, this initiative promises to further elevate the role of small businesses in driving Nigeria’s economic prosperity.
