President Bola Tinubu has announced that a $12 million entrepreneurship centre being developed in Abuja will provide support to entrepreneurs and micro, small and medium enterprises. The Abuja Centre for Entrepreneurship is being funded by the Republic of Korea through the Korea International Cooperation Agency. The centre will offer training, technology, incubation, workspaces and other forms of business support to help entrepreneurs start and grow their businesses.
The entrepreneurship centre is being developed at the Small and Medium Enterprises Development Agency of Nigeria Industrial Development Centre in Idu, Abuja. The project is a partnership between the United Nations Development Programme and SMEDAN. President Tinubu's Special Adviser on Information and Strategy, Bayo Onanuga, released a statement on Wednesday containing the president's remarks. The centre will initially target 500 entrepreneurs, 400 start-ups and 1,500 MSMEs.
President Tinubu said the centre would provide entrepreneurs with workspaces, digital facilities, training, incubation and enterprise development support. The facility will serve entrepreneurs in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja. It will also provide support to businesses across northern Nigeria. The centre will have facilities designed to improve access for women and persons with disabilities, as well as a crèche.
The project will allocate $5.9 million towards construction and $6.1 million for equipment and programmes. While construction continues, SMEDAN, KOICA and UNDP will work with universities, business incubators, financial institutions, private-sector organisations and entrepreneur networks to provide support to businesses. This collaboration aims to enhance the centre's impact on the entrepreneurship ecosystem in Nigeria.
The proposed centre adds to existing efforts by SMEDAN and its development partners to provide infrastructure, equipment, training and other support to small businesses. In February 2025, SMEDAN and UNDP launched a solar-powered garment and fashion hub and a makerspace at the agency's Industrial Development Centre in Idu, Abuja. The facility was designed to provide entrepreneurs with access to equipment, workspace and reliable electricity.
President Tinubu emphasized that MSMEs remain important to the Nigerian economy due to their role in creating jobs and supporting families and communities. He said the government would continue to support initiatives aimed at helping more Nigerians establish and expand businesses. The president commended the South Korean government, KOICA, UNDP and SMEDAN for their roles in the entrepreneurship centre.
The project complements existing government efforts in digital skills, entrepreneurship and enterprise development. On Tuesday, the State House announced a Federal Government programme to train and provide start-up tools to 200 young people in Oyo State, with plans to replicate the programme across the six geopolitical zones. The entrepreneurship centre is expected to have a positive impact on Nigeria's entrepreneurship ecosystem.
Key points
- The centre will provide entrepreneurs with workspaces, digital facilities, training, incubation and enterprise development support.
- The project will initially target 500 entrepreneurs, 400 start-ups and 1,500 MSMEs.
- The centre's facilities will be designed to improve access for women and persons with disabilities.
