Tinubu Welcomes $12m Abuja Entrepreneurship Centre to Boost MSMEs

By Nafiu Muhammad Lema

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) ecosystem and support job creation.

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, in partnership with the Federal Government through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the United Nations Development Programme (UNDP).

According to a statement by the President’s Special Adviser on Information and Strategy, Bayo Onanuga, on Wednesday, the project is expected to support 500 entrepreneurs, 400 start-ups and 1,500 MSMEs in its initial phase.

About $5.9 million will be spent on construction, while $6.1 million will fund equipment and programmes for entrepreneurs and businesses.

Tinubu said the Centre would provide entrepreneurs with access to facilities, technology, training and other forms of support needed to establish and grow their businesses.

“Small businesses are an important part of our economy. They employ people, support families and create activity in communities across the country.

“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.

The Centre 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, while contributing to the development of the entrepreneurship and MSME ecosystem across Northern Nigeria.

Tinubu said his administration would continue to create conditions that enable small businesses to grow and compete.

“We want more Nigerians to be able to start businesses, grow them and employ others.

“We also want existing small businesses to have better access to the tools and support they need to become stronger and more productive.

“That is important for jobs, incomes and the wider economy,” he said.

The President said the project complements the Federal Government’s investments in digital skills, entrepreneurship, enterprise development and MSME support.

The Centre is also designed to accommodate women and persons with disabilities, with accessible facilities and crèche services for women with young children.

While construction continues, SMEDAN, KOICA and UNDP will work with universities, incubators, financial institutions, private-sector organisations and entrepreneur networks to develop a wider support system around the Centre.

Tinubu thanked the South Korean government for the $12 million investment and commended KOICA, UNDP and SMEDAN for advancing the project.

“Our economy will be stronger when more Nigerian businesses can start, survive and grow.

“We must keep building the support around them and opening more opportunities for enterprise across the country,” President Tinubu said.