Tinubu says $12m Abuja entrepreneurship centre will support MSMEs

President Bola Tinubu has announced the $12 million Abuja Centre for Entrepreneurship (ACE) will bolster Nigeria's MSME ecosystem, foster job creation, and expand the nation's economic landscape. Funded by the Republic of Korea via the Korea International Cooperation Agency (KOICA), the facility is being constructed at the SMEDAN Industrial Development Centre in Idu, Abuja, in collaboration with the Federal Government through SMEDAN and the United Nations Development Programme (UNDP).

Tinubu highlighted the ACE's role in supporting aspiring entrepreneurs, start-ups, and growing businesses by providing essential facilities, technology, training, and enterprise support. An initial target of 500 entrepreneurs, 400 start-ups, and 1,500 MSMEs will benefit from the centre's offerings. A significant portion of the funding, $5.9 million, will be allocated to construction, while $6.1 million will be dedicated to equipment and programs for entrepreneurs and businesses.

The ACE will offer workspaces, digital facilities, training, incubation, and enterprise support across Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi, and Lokoja. This initiative aims to strengthen the entrepreneurship and MSME ecosystem in Northern Nigeria, enabling small businesses to establish, strengthen, and grow their operations.

Tinubu emphasized that small businesses are integral to the economy, generating employment, supporting families, and driving community activity. He stressed that entrepreneurs often require better access to facilities, technology, training, and support to foster business growth. The ACE will address these needs, empowering more Nigerians to establish, expand, and employ others, thereby contributing to job creation, income generation, and overall economic development.