President Bola Ahmed Tinubu has welcomed the construction of the $12 million Abuja Centre for Entrepreneurship (ACE), a project 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 (UNDP).
The Abuja Centre for Entrepreneurship will provide 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. It will serve businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi, and Lokoja. The centre is designed to accommodate women and persons with disabilities, with accessible facilities and crèche services for women with young children.
President Tinubu said the centre would help establish, strengthen, and grow businesses. He noted that small businesses are an important part of Nigeria's economy, employing people, supporting families, and creating activity in communities across the country. Many entrepreneurs already have ideas and determination to succeed, but often need better access to facilities, technology, training, and support.
The President said the Federal Government would continue to expand conditions that allow small businesses to grow and compete. He wants more Nigerians to start businesses, grow them, and employ others. Existing small businesses should have better access to tools and support to become stronger and more productive, which is important for jobs, incomes, and the wider economy.
The $12 million investment from the Republic of Korea will be allocated to construction and equipment. About $5.9 million will go into construction, while $6.1 million will fund equipment and programmes for entrepreneurs and businesses. President Tinubu thanked the Government of the Republic of Korea for the investment and commended KOICA, UNDP, and SMEDAN for bringing the project to the construction stage.
The centre will provide workspaces, digital facilities, training, incubation, and enterprise support for entrepreneurs, start-ups, and growing businesses. 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. This will help identify businesses that can benefit from its programmes.
President Tinubu said the project complements the administration's wider investments in digital skills, entrepreneurship, enterprise development, and support for MSMEs. He noted that Nigeria would continue to welcome investments and partnerships that strengthen local businesses, deepen enterprise development, and create more jobs. A stronger economy will result when more Nigerian businesses can start, survive, and grow.
Key points
- The $12 million Abuja Centre for Entrepreneurship will support Nigeria's MSME ecosystem.
- The centre will provide facilities, technology, training, and enterprise support for 500 entrepreneurs, 400 start-ups, and 1,500 MSMEs.
- President Tinubu's administration is investing in digital skills, entrepreneurship, and enterprise development to create more jobs and strengthen local businesses.
