President Tinubu has welcomed the $12m Abuja Entrepreneurship Centre, designed to strengthen support for entrepreneurs, start-ups and MSMEs and expand opportunities for business growth.
President Bola Ahmed Tinubu has welcomed the construction of the $12 million Abuja Centre for Entrepreneurship (ACE), saying the facility will strengthen Nigeria’s micro, small and medium enterprises (MSMEs), support business growth and create more jobs.
The centre is funded by the Republic of Korea through the Korea International Cooperation Agency (KOICA) and is being developed at the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) Industrial Development Centre in Idu, Abuja, in partnership with the Federal Government through SMEDAN and the United Nations Development Programme (UNDP).
Construction of the centre commenced following a groundbreaking ceremony held in Abuja on September 17, marking the transition of the project from planning to physical development.
According to the Presidency, ACE will provide facilities, technology, training, incubation and enterprise support for aspiring entrepreneurs, start-ups and growing businesses.
The centre has an initial target of supporting 500 entrepreneurs, 400 start-ups and 1,500 MSMEs, according to the State House release.
Tinubu said small businesses remained an important part of Nigeria’s economy because they provide employment, support families and stimulate economic activity within communities.
“Many entrepreneurs already have the ideas and the determination to succeed. What they often need is better access to facilities, technology, training and the support that can help their businesses grow,” the President said.
ACE will feature workspaces, digital facilities, training areas, incubation and enterprise support services. It is expected to serve businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja.
The facility is also designed to accommodate women and persons with disabilities through accessible infrastructure and gender-responsive facilities, including a crèche for women with young children.
While construction continues, SMEDAN, KOICA and UNDP are expected to work with universities, incubators, financial institutions, private-sector organisations and entrepreneur networks to develop a wider support system around the centre.
The project partners also plan to establish an entrepreneur pipeline that can connect businesses with incubation, finance, markets, digital innovation and other enterprise-development opportunities.
Tinubu thanked the Government of the Republic of Korea for the $12 million investment and commended KOICA, UNDP and SMEDAN for advancing the project to the construction stage.
He said the Federal Government would continue to support investments and partnerships aimed at strengthening local businesses, deepening enterprise development and expanding job opportunities.
“Our economy will be stronger when more Nigerian businesses can start, survive and grow,” Tinubu said.
The Abuja Centre for Entrepreneurship is part of broader efforts involving government agencies and development partners to strengthen the infrastructure and support systems available to Nigerian entrepreneurs, start-ups and MSMEs.
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