President Bola Ahmed Tinubu has welcomed the construction of the $12 million Abuja Centre for Entrepreneurship, aimed at strengthening Nigeria's MSME ecosystem. The centre, funded by the Republic of Korea through the Korea International Cooperation Agency (KOICA), is being developed at the SMEDAN Industrial Development Centre in Idu, Abuja. The project is a partnership between the Federal Government, SMEDAN, and the United Nations Development Programme.
The Abuja Centre for Entrepreneurship will support the wider MSME and entrepreneurship ecosystem by providing facilities, technology, training, and enterprise support for aspiring entrepreneurs, start-ups, and growing businesses. The centre has an initial target of 500 entrepreneurs, 400 start-ups, and 1,500 MSMEs. About $5.9 million will go into construction, while $6.1 million will fund 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 across the country. He stated that the centre will provide more support and strengthen the ecosystem around small businesses, helping them grow and create jobs. The president highlighted that many entrepreneurs have ideas and determination but need better access to facilities, technology, training, and support.
The Abuja Centre for Entrepreneurship will provide workspaces, digital facilities, training, incubation, and enterprise support for entrepreneurs, start-ups, and growing businesses. It 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.
President Tinubu assured that the Federal Government will continue to expand conditions that allow small businesses to grow and compete. He wants more Nigerians to start businesses, grow them, and employ others, and for existing small businesses to have better access to tools and support to become stronger and more productive.
The centre has been designed to accommodate women and persons with disabilities, with 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.
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 more jobs.
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, start-ups, and growing businesses.
- The project complements the administration's wider investments in digital skills, entrepreneurship, enterprise development, and support for MSMEs.
