President Bola Tinubu has welcomed the construction of the $12 million Abuja Centre for Entrepreneurship, ACE, saying the project will strengthen Nigeria's MSME ecosystem and help more businesses grow, create jobs and expand economic activity. 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. It is a partnership between the Federal Government, KOICA, and the United Nations Development Programme, UNDP.
The Centre will provide critical support for small businesses across Nigeria, with an initial target of 500 entrepreneurs, 400 start-ups and 1,500 MSMEs. It will offer facilities, technology, training and enterprise support for aspiring entrepreneurs, start-ups and growing businesses. 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. He noted that many entrepreneurs have ideas and determination to succeed but often lack access to facilities, technology, training and support. The Centre will provide workspaces, digital facilities, training, incubation and enterprise support.
The Centre will serve businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja, contributing to a stronger entrepreneurship ecosystem across Northern Nigeria. President Tinubu said the Federal Government would continue to expand conditions that allow small businesses to grow and compete.
The project complements the administration's wider investments in digital skills, entrepreneurship, enterprise development and support for MSMEs. 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. They will identify businesses that can benefit from its programmes.
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. He said Nigeria would continue to welcome investments and partnerships that strengthen local businesses and create more jobs.
Key points
- The $12 million Abuja Centre for Entrepreneurship will support 500 entrepreneurs, 400 start-ups and 1,500 MSMEs.
- The Centre will provide facilities, technology, training and enterprise support for small businesses.
- The project is a partnership between the Federal Government, KOICA, and the United Nations Development Programme, UNDP.
