FG launches N1bn grant scheme for small businesses

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By Yinka Kolawole

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The Federal Government is set to give out more than N1 billion to support small businesses in Nigeria through the 2026 National MSME Awards.

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This was announced by the President’s Senior Special Adviser on Job Creation and MSMEs, Temitola Adekunle-Johnson in Abuja.

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He explained that the application portal will open on April 7 and close on May 7. Business owners across the country are encouraged to apply.

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According to him, this year’s theme is “Renewed Hope for MSMEs,” and the focus will be on giving direct financial support to help businesses grow.

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He said the government is moving away from giving prizes like cars and houses. Instead, winners will receive cash grants that can better meet their business needs.

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Adekunle-Johnson added that more businesses will benefit this year, not just the top winners. The aim is to spread support across different categories.

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Winners will also receive mentorship and guidance from government agencies.

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This includes business advice, help with market access, and opportunities to attend international exhibitions.

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He said businesses will be judged based on innovation, creativity, job creation, and use of technology.

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The government also noted that past applications were sometimes of poor quality. Efforts are being made to improve awareness and encourage better submissions this year.

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He assured Nigerians that the selection process will be fair and transparent.

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The award ceremony will take place on June 27 to mark the United Nations World MSME Day.

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A representative from NAFDAC, Mrs Sarah Ajayi, said there will be about 12 categories covering sectors like manufacturing, agriculture, textiles, creativity, innovation, and beauty.

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She advised applicants to ensure they meet all requirements, including proper documentation such as regulatory approvals, tax records, and certifications. Applicants must also submit good-quality videos showing how their businesses operate.

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