The Federal Government of Nigeria has partnered with the Republic of Korea and the United Nations Development Programme (UNDP) to establish the $12 million Abuja Centre for Entrepreneurship (ACE). The centre, being developed at the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) Industrial Development Centre in Idu, aims to provide entrepreneurs with access to facilities, technology, training, incubation, and enterprise-development services. This initiative is part of efforts to build a stronger stream of start-ups, small businesses, and job-creating enterprises in Nigeria.
President Bola Tinubu has welcomed the project, emphasizing that strengthening the capacity of small businesses is essential to expanding employment, household incomes, and economic activity. According to a statement by Presidential Spokesman, Mr Bayo Onanuga, Tinubu noted that small businesses are crucial to the economy, employing people, supporting families, and creating activity in communities across the country. The President highlighted that many entrepreneurs have ideas and determination but often lack access to facilities, technology, training, and support to grow their businesses.
The $12 million package comprises $5.9 million for construction and $6.1 million for equipment and entrepreneurship programmes. The centre is being funded by the Republic of Korea through the Korea International Cooperation Agency (KOICA), with the federal government implementing the project through SMEDAN in collaboration with UNDP. At full operation, ACE is expected to support an initial 500 entrepreneurs, 400 start-ups, and 1,500 MSMEs, creating a structured platform for businesses to access infrastructure and technical support.
The Abuja Centre for Entrepreneurship is designed to connect entrepreneurs and businesses in surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi, and Lokoja, giving it a wider regional reach across Northern Nigeria. The facility will provide workspaces, digital facilities, training, incubation, and enterprise support, while partnerships with universities, financial institutions, private-sector organisations, business incubators, and entrepreneur networks are expected to broaden opportunities for participating businesses.
President Tinubu emphasized that the government’s objective is not only to encourage Nigerians to establish businesses but also to create conditions that would enable existing enterprises to survive, expand, and employ more people. The project incorporates measures to improve participation by women and persons with disabilities, with accessible facilities and crèche services planned for women with young children. This initiative addresses an important gap in Nigeria’s entrepreneurship ecosystem.
While construction continues, SMEDAN, KOICA, and UNDP will work with ecosystem partners to identify businesses that can benefit from the Centre and develop programmes around their specific needs. The centre will provide entrepreneurs with the necessary support to move from ideas and early-stage operations to sustainable enterprises. By doing so, the initiative aims to foster a culture of entrepreneurship and job creation in Nigeria.
The Abuja Centre for Entrepreneurship is expected to have a positive impact on Nigeria’s economy by supporting the growth of small businesses and creating employment opportunities. With its wider regional reach and inclusive design, the centre has the potential to become a hub for entrepreneurship and innovation in Northern Nigeria.
Key points
- The $12 million Abuja Centre for Entrepreneurship will support 500 entrepreneurs, 400 start-ups, and 1,500 MSMEs.
- The centre is being funded by the Republic of Korea through KOICA, with the federal government implementing the project through SMEDAN in collaboration with UNDP.
- The initiative aims to address an important gap in Nigeria’s entrepreneurship ecosystem by providing entrepreneurs with access to facilities, technology, training, and enterprise-development services.
