The Federal Government has announced plans for the 8th edition of the National MSMEs Awards to reward innovative and resilient entrepreneurs who have excelled in their endeavors with prizes worth over N220m.

The Senior Special Assistant to the President on Job Creation and Micro, Small, and Medium Enterprises, Temitola Adekunle-Johnson, revealed this during a press briefing on in Abuja to announce the eighth edition of the National MSMEs Award.

He said they will be rewarded with a house, shops, cars and cash prizes as part of events to mark the 2025 MSMEs Week.

The MSMEs award is designed to commemorate the 2024 United Nations World MSMES Day as part of efforts to recognise and support outstanding small businesses in the country.

According to him, President Bola Tinubu’s government is committed to putting smiles on the faces of Nigerians.

Mrs. Phebean Arumemi – Head of Desk MSME, Standard Organization of Nigeria explained that the awards will be in 8 categories, she added that businesses of persons with disabilities will be recognized for their contribution to Nigeria’s economy as there are slots for them.

In his explanation, Mr Tayo Omidiji – General Manager, Strategic Planning- NEXIM Bank noted that the aim is to ensure that president administration fulfil its plans of growing the economy to one trillion dollars.

Meanwhile, the portal for registration and entries will be opened for all Nigerian businesses to register from Friday, 7th March 2025, to 7th April 2025.

President Tinubu has raised the support for outstanding MSMEs to N300,000 from N150,000.