President Bola Tinubu has welcomed the construction of the $12 million Abuja Centre for Entrepreneurship (ACE), aimed at strengthening Nigeria's MSME ecosystem, promoting business growth, job creation, and economic expansion. The centre, funded by the Republic of Korea through the Korea International Cooperation Agency (KOICA), is being developed in partnership with the federal government, SMEDAN, and the United Nations Development Programme.
The Abuja Centre for Entrepreneurship will provide facilities, technology, training, and enterprise support for aspiring entrepreneurs, start-ups, and growing businesses. According to Presidential spokesperson Bayo Onanuga, the project targets 500 entrepreneurs, 400 start-ups, and 1,500 MSMEs. The centre will serve businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi, and Lokoja, contributing to a stronger entrepreneurship and MSME ecosystem across northern Nigeria.
The project has allocated $5.9 million for construction and $6.1 million for equipment and programmes for entrepreneurs and businesses. President Tinubu emphasized that small businesses are crucial to Nigeria's economy, employing people, supporting families, and creating activity in communities nationwide. He noted that many entrepreneurs have ideas and determination but need better access to facilities, technology, training, and support to grow their businesses.
Tinubu stated that the federal government will continue to expand conditions for small businesses to grow and compete. He expressed the desire for more Nigerians to start businesses, grow them, and employ others, and for existing small businesses to access tools and support to become stronger and more productive. This, he said, is important for jobs, incomes, and the wider economy.
The Abuja Centre for Entrepreneurship has been designed to accommodate women and persons with disabilities, featuring accessible facilities and crèche services for women with young children. During construction, SMEDAN, KOICA, and UNDP will collaborate 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. He said Nigeria will continue to welcome investments and partnerships that strengthen local businesses, deepen enterprise development, and create jobs.
The centre complements the administration's wider investments in digital skills, entrepreneurship, enterprise development, and support for MSMEs. With the ACE, the government aims to create a robust ecosystem for MSMEs, enabling them to contribute significantly to Nigeria's economic growth and development.
Key points
- The $12 million Abuja Centre for Entrepreneurship aims to strengthen Nigeria's MSME ecosystem.
- The centre will provide facilities, technology, training, and enterprise support for aspiring entrepreneurs and businesses.
- The project targets 500 entrepreneurs, 400 start-ups, and 1,500 MSMEs, and will serve businesses in Abuja and surrounding cities.
