The Federal Government says it is strengthening support for Micro, Small and Medium Enterprises (MSMEs) through reforms and targeted interventions aimed at creating jobs, expanding businesses and driving economic growth.
Minister of Information and National Orientation, Mohammed Idris, said the 2026 National MSME Awards demonstrate the Tinubu administration’s commitment to making small businesses the engine of Nigeria’s economy under the Renewed Hope Agenda.
Speaking after the awards ceremony at the State House Conference Centre in Abuja, Idris said the government would continue to implement policies that enable entrepreneurs to thrive.
“The awards are a clear indication of President Bola Ahmed Tinubu’s commitment to repositioning MSMEs as the foundation of Nigeria’s economic prosperity,” he said.
“The beneficiaries have dedicated their achievements to Mr. President and the Renewed Hope Agenda, expressing confidence that with the continued support of the administration, Nigeria is firmly on the path to greater prosperity.”
The minister described the Federal Government’s disbursement of over ₦1 billion in grants to more than 1,000 entrepreneurs as a practical reform designed to strengthen businesses by providing direct financial support instead of material gifts.
“The President believes that providing cash support will enable beneficiaries to reinvest in their enterprises, grow their businesses and contribute more meaningfully to the nation’s economy. It is a new direction that will strengthen entrepreneurship and deepen grassroots economic development,” Idris said.
He also dedicated an award presented to him for supporting MSME development and job creation to the Federal Ministry of Information and National Orientation, its agencies and staff.
“This recognition is not for me alone. It belongs to the Ministry, its agencies and our hardworking staff who continue to communicate government initiatives and enlighten Nigerians on the opportunities available through MSME development,” he said.
Earlier, Vice President Kashim Shettima, represented by Deputy Chief of Staff to the President (Office of the Vice President), Senator Ibrahim Hassan Hadejia, said the Federal Government’s decision to replace material prizes with business grants of between ₦500,000 and ₦3 million was intended to provide entrepreneurs with the working capital needed to grow.
“In today’s economic realities, what a growing business needs most is working capital. This strategic financial support will help beneficiaries reduce operating costs, purchase raw materials, scale production and create lasting jobs for our growing population,” he said.
Hadejia urged beneficiaries to invest the grants wisely by expanding their businesses, creating jobs and mentoring other entrepreneurs.