The Federal Government has launched a N1 billion cash grant scheme to support small businesses in Nigeria under the 2026 National MSME Awards.

The President’s Senior Special Adviser on Job Creation and MSMEs, Temitola Adekunle-Johnson disclosed this in Abuja, stating that the application portal will open from 7th to May 7, 2026.

He said the initiative themed “Renewed Hope for MSMEs,” is aimed at providing direct financial support to help businesses expand and remain sustainable.

According to him, the government is shifting from prize-base rewards such as cars and houses to cash grants that better address the needs of business owners.

He added that more entrepreneurs will benefit from this year’s edition, as support will be extended beyond top winners to reach a wider range of participants across different categories.

Temitope said beneficiarues will also receive mentorship and guidance from government agencies.

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

He noted that entries will be judged based on innovation, creativity, job creation, and use of technology.

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

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

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

She urged applicants to ensure they meet all requirements, including proper documentation such as regulatory approvals, tax records, and certifications.

Sarah added that all applicants must also submit good-quality videos showcasing their their business operations.