Federal Government has announced the commencement of applications for the Eighth Micro, Small and Medium Enterprises (MSMEs) Awards.

100 outstanding businesses are expected to share over N1 billion in the programme, designed to boost entrepreneurship and assist small businesses nationwide. It forms part of broader efforts to drive economic expansion, create jobs, and encourage innovation within the MSME sector.

The Special Adviser to the President on Job Creation and MSMEs, Temitope Adekunle Johnson, stated this at a press conference in Abuja yesterday.

Johnson announced that while applications for the competition would open from April 7 to May 7, the grand finale would be held on June 27, coinciding with World MSME Day.

He noted that while past editions saw winners receive houses, cars, shops and other prizes, most beneficiaries this year would be awarded substantial grants to help boost their businesses.

In their separate remarks, representatives of sponsors, including the Raw Materials Research and Development Council (RMRDC), Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), National Agency for Food, Drug Administration and Control (NAFDAC), Corporate Affairs Commission (CAC) among others, reaffirmed their commitment to supporting the initiative, describing it as a critical platform for strengthening Nigeria’s MSME ecosystem.

Meanwhile, the Federal Government has also launched the “Cross-Border Digital Payments and Identity in Nigeria under the AfCFTA” report, urging stakeholders to unlock trade opportunities for Micro, Small and Medium Enterprises (MSMEs) to access the $3.5 trillion African Continental Free Trade Area (AfCFTA) market.

The report, hosted by the Office of the Vice President, in collaboration with ODI Global under the Supporting Investment and Trade in Africa (SITA) programme, was unveiled by the Deputy Chief of Staff to the President, Ibrahim Hassan Hadejia, in Abuja.

Hadejia described the research as both timely and strategic, noting the strong coordination by the Office of the Vice President and the leadership of the Federal Ministry of Industry, Trade and Investment.

He revealed that the cross-border payments report followed earlier milestones, including the development and launch of Nigeria’s Digital Trade Strategy and a capacity-building programme for subnational leaders.

According to him, Nigeria is increasingly assuming a leading role in shaping the digital trade agenda across the African continent, necessitating that the country remains at the forefront of AfCFTA implementation.

On her part, the Special Assistant to the President on Project Support, Office of the Vice President, Shuda Ahmed, noted that without seamless and affordable cross-border payment systems, MSMEs across the continent would be unable to scale beyond their domestic markets.