The Federal Government has announced plans to disburse over N1 billion in grants to Micro, Small and Medium Enterprises (MSMEs) under the 2026 National MSME Awards, with applications set to open on April 7.

The Senior Special Assistant to the President on Job Creation and MSMEs, Temitola Adekunle-Johnson, disclosed this during a media briefing in Abuja on Tuesday, noting that the application portal will remain open until May 7.

He explained that this year’s edition, themed “Renewed Hope for MSMEs,” marks a significant shift towards direct financial support for businesses, moving away from previous rewards such as cars, houses and shops.

According to him, the initiative—backed by government partners—will channel up to N1 billion into grants aimed at boosting business growth and sustainability.

“We are prioritising funding this year, providing grants that will directly support and scale MSME operations,” he said.

Adekunle-Johnson added that the programme would ensure broader distribution of benefits, with more winners emerging across multiple categories rather than limiting rewards to only top performers.

Beyond financial support, beneficiaries will also gain access to mentorship programmes coordinated by relevant government agencies. These will include business advisory services, market access opportunities and, for outstanding enterprises, participation in international exhibitions.

He stated that the awards will recognise excellence in innovation, creativity, job creation and the adoption of technology.

Addressing concerns from previous editions, the presidential aide acknowledged the issue of poor-quality applications and said efforts were underway to improve awareness and encourage more competitive entries nationwide. He assured that the selection process would be transparent and strictly merit-based.

The grand finale of the awards is scheduled for June 27, in commemoration of the United Nations World MSME Day.

Also speaking, a representative of the National Agency for Food and Drug Administration and Control (NAFDAC), Sarah Ajayi, revealed that about 12 categories will be featured, covering sectors such as manufacturing, agriculture, textiles, creative industries, innovation, and beauty and wellness.

She emphasised that compliance would play a key role in the selection process, urging applicants to provide proper documentation, including regulatory approvals, tax records and relevant certifications.

Ajayi further noted that participants must submit high-quality video presentations demonstrating their production processes and value addition.

Other stakeholders at the briefing pledged support for the initiative, assuring collaboration to ensure credibility in selection, regulatory compliance, and effective post-award mentorship to strengthen MSME growth across the country.