Tinubu: $12m Abuja Entrepreneurship Centre’ll Boost MSME Ecosystem, Create Jobs and Expand Nation’s Economic Scope

President Bola Tinubu has welcomed the construction of the $12 million Abuja Centre for Entrepreneurship, highlighting its potential to bolster Nigeria's MSME ecosystem, generate jobs, and expand economic activity. The center, funded by Korea International Cooperation Agency (KOICA), is being developed at the SMEDAN Industrial Development Centre in Abuja in collaboration with the federal government and United Nations Development Programme (UNDP).

Presidential spokesperson Bayo Onanuga revealed that the ACE aims to provide facilities, technology, training, and enterprise support for aspiring entrepreneurs, startups, and growing businesses, targeting 500 entrepreneurs, 400 startups, and 1,500 MSMEs. Approximately $5.9 million will be allocated to construction, and $6.1 million towards equipment and programs.

The center will cater to businesses not only in Abuja but also in nearby cities like Kaduna, Jos, Keffi, Lafia, Minna, Makurdi, and Lokoja, thereby fostering economic growth across northern Nigeria. Tinubu emphasized that small businesses are critical to the economy, employing people, supporting families, and driving activity. He added that the federal government would continue to enhance conditions enabling small businesses to thrive and compete.

The ACE aligns with the administration's broader investments in digital skills, entrepreneurship, enterprise development, and MSME support. Designed to accommodate women and persons with disabilities, the center will offer accessible facilities and crèche services for women with young children. While construction proceeds, SMEDAN, KOICA, and UNDP will collaborate with universities, incubators, financial institutions, private-sector organizations, and entrepreneur networks to establish a wider support network and identify businesses that can benefit from the ACE's programs.

Tinubu expressed gratitude to the Republic of Korea for the $12 million investment and lauded KOICA, UNDP, and SMEDAN for advancing the project to the construction phase. He affirmed Nigeria's openness to investments and partnerships that bolster local businesses, deepen enterprise development, and generate more jobs, stating that a stronger economy depends on more Nigerian businesses starting, surviving, and growing.