FG Opens Application Portal for MSME Funding, Receives 60,000 Entries
- The Nigerian government has announced that the application for the 2025 MSME awards will remain open until April 7, 2025
- It disclosed that about 60,000 applications have been received, with more expected to roll in before the closing date
- Winners of the award will reportedly go home with about N700 million worth of prizes, including cars, shops and houses
Legit.ng’s Pascal Oparada has reported on tech, energy, stocks, investment and the economy for over a decade.
The portal for the submission of applications for the 2025 National MSME Awards opened on Friday, March 7, 2025, following a press conference by the Awards Committee where a new category for persons living with disability was announced.
About three weeks into the submission of entries, over 60,000 applications from small business entrepreneurs across the country have been received, with agricultural-based enterprises leading the pack and closely followed by enterprises in the Information and Digital Technology sector, and the Creative Industry.
Source: Original
Categories of entries for MSMEs
Others are leatherwork, furniture and woodwork, Manufacturing and Fashion, Beauty and Cosmetics, and persons living with disability.
It is important to note that the applications received so far for this year's competition have come from businesses operating in virtually every part of the country - from Lagos to Aba; Kaduna to Maiduguri; Makurdi to Birnin Kebbi; Damaturu to Abakaliki and many other locations across the country.
According to the organisers, the huge interest shown by small enterprises across the country reflects the integrity and significance of the awards in galvanising support and growth in the MSME space in Nigeria.
Incentives for winners
The incentives earmarked for this year's awardees underscore the Federal Government and private sector commitment to transforming the MSME space in Nigeria, especially in recognition of MSMEs' contribution to economic development and job creation.
The feedback from the technical team as regards the submission of applications is encouraging, but more small enterprises are urged to leverage this great opportunity by sending in their entries as the portal remains open till April 7.
They are encouraged to go to https://msmeclinics.gov.ng/ and complete the application process.
Top winners to receive juicy prizes
Legit.ng earlier reported that on Monday, March 3, the Federal Government of Nigeria announced the launch of the seventh edition of the Micro, Small, and Medium Enterprises (MSMEs) Award, which will be held this year.
Tola Adekunle-Johnson, Senior Special Assistant to the President on Job Creation and MSMEs, said the application portal for this year will open on March 7 and run through April 7, 2025.
Winners to receive N220 million worth of prizes
Speaking at a press briefing, Adekunle-Johnson said the overall winner of the 2025 MSMEs Award will receive a car, a house, a shop, and a cash prize – all worth N220 million.
Other winners – the second and third runner-ups – would receive a prize worth at least N50 million, as the case may be.
Also announcing a new twist to the annual award, Adekunle-Johnson said a new category has been created for People With Disabilities (PWDs).
According to him, the PWDs are also not limited to this category but are encouraged to apply to other categories they also deem fit.
Source: Twitter
Calling prospective MSMEs to seize the opportunity and apply, Adekunle-Johnson said applicants are expected to upload a two-minute video online via the MSMEs Award portal within the stated timeframe.
Importance of MSMEs to Nigeria's economy
Micro, Small, and Medium Enterprises (MSMEs) are the backbone of Nigeria’s economy, contributing approximately 46.32% to the nation's GDP and representing 96.9% of businesses.
They provide employment to about 84% of the workforce, significantly aiding in poverty reduction and fostering economic stability.
MSMEs drive innovation, enhance local production, and promote entrepreneurship across various sectors. However, challenges like limited access to finance, inadequate infrastructure, and regulatory hurdles impede their growth.
Addressing these issues through supportive policies and improved financial access is essential for maximizing MSMEs' potential in driving Nigeria's sustainable economic development.
FG announces job openings for 30,000 3MTT fellows
Legit.ng earlier reported federal government said there were employment opportunities available for graduates of its 3 Million Technical Talents (3MTT) program.
The opportunity was announced by the program coordinators in a post shared on X formerly Twitter. In the post, the coordinators encouraged fellows to begin applying for positions.
This article has been updated by head of business desk, Victor Enengedi, with additional information.
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Source: Legit.ng
