President Bola Ahmed Tinubu has welcomed the construction of a $12 million Abuja Centre for Entrepreneurship (ACE), saying the project will strengthen Nigeria’s micro, small and medium enterprises (MSMEs), create jobs and expand economic activity….
President Bola Ahmed Tinubu has welcomed the construction of a $12 million Abuja Centre for Entrepreneurship (ACE), saying the project will strengthen Nigeria’s micro, small and medium enterprises (MSMEs), 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, 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 centre will provide workspaces, digital facilities, training, incubation and enterprise support for aspiring entrepreneurs, start-ups and growing businesses.
The facility has an initial target of supporting 500 entrepreneurs, 400 start-ups and 1,500 MSMEs.
Of the $12 million investment, $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 help entrepreneurs establish, strengthen 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,” the President said.
“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.
“This Centre will provide more of that support and strengthen the ecosystem around them.”
The centre will serve businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja, while supporting the development of the wider MSME and entrepreneurship ecosystem across Northern Nigeria.
Tinubu said the Federal Government 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,” he said.
“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.”
The project will also incorporate facilities for women and persons with disabilities, including accessible infrastructure and crèche services for women with young children.
While construction continues, SMEDAN, KOICA and UNDP will collaborate with universities, incubators, financial institutions, private-sector organisations and entrepreneur networks to build a broader support system around the centre.
The partners will also identify businesses that can benefit from the centre’s programmes.
Tinubu thanked the South Korean government for the investment and commended KOICA, UNDP and SMEDAN for advancing the project.
He said Nigeria would continue to welcome investments and partnerships aimed at strengthening local businesses, deepening enterprise development and creating jobs.
“Our economy will be stronger when more Nigerian businesses can start, survive and grow,” Tinubu said.
“We must keep building the support around them and opening more opportunities for enterprise across the country.”
