President Bola Tinubu has welcomed the construction of the $12 million Abuja Centre for Entrepreneurship, saying the project will strengthen Nigeria’s MSME ecosystem and help more businesses grow, create jobs and expand economic activity. The centre is being developed at the SMEDAN Industrial Development Centre in Idu, Abuja, in partnership with the federal government through SMEDAN and the United Nations Development Programme (UNDP).
The Abuja Centre for Entrepreneurship, funded by the Republic of Korea through the Korea International Cooperation Agency (KOICA), will support the wider MSME and entrepreneurship ecosystem by providing facilities, technology, training, and enterprise support for aspiring entrepreneurs, start-ups, and growing businesses. An initial target of 500 entrepreneurs, 400 start-ups, and 1,500 MSMEs is expected to benefit from the centre.
The $12 million project will be divided into $5.9 million for construction and $6.1 million for equipment and programmes for entrepreneurs and businesses. According to President Tinubu, small businesses are an important part of Nigeria's economy, employing people, supporting families, and creating activity in communities across the country.
President Tinubu stated that many entrepreneurs already have the ideas and determination to succeed, but often need better access to facilities, technology, training, and support to help their businesses grow. The Centre will provide workspaces, digital facilities, training, incubation, and enterprise support for entrepreneurs, start-ups, and growing businesses.
The Abuja Centre for Entrepreneurship will serve businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi, and Lokoja, while contributing to a stronger entrepreneurship and MSME ecosystem across Northern Nigeria. President Tinubu emphasized that the Federal Government would continue to expand conditions that allow small businesses to grow and compete.
The President said the project complements the administration's wider investments in digital skills, entrepreneurship, enterprise development, and support for MSMEs. The Centre has been designed to accommodate women and persons with disabilities, including accessible facilities and crèche services for women with young children.
While construction is ongoing, SMEDAN, KOICA, and UNDP will work with universities, incubators, financial institutions, private-sector organisations, and entrepreneur networks to build a wider support system around the Centre and identify businesses that can benefit from its programmes. President Tinubu thanked the Government of the Republic of Korea for the $12 million investment and commended KOICA, UNDP, and SMEDAN for bringing the project to the construction stage.
Key points
- The centre will support 1,500 MSMEs and 400 start-ups.
- The project is funded by the Republic of Korea through KOICA.
- The centre will provide workspaces, digital facilities, training, and enterprise support for entrepreneurs and businesses.
