TINUBU WELCOMES $12 MILLION ABUJA ENTREPRENEURSHIP CENTRE TO STRENGTHEN NIGERIA’S MSME ECOSYSTEM

President Bola Ahmed Tinubu has welcomed the construction of the $12 million Abuja Centre for Entrepreneurship (ACE), describing it as an initiative that will strengthen Nigeria’s micro, small and medium enterprises (MSMEs), create jobs and expand economic opportunities.  

Funded by the Republic of Korea through KOICA, the centre is being developed at the SMEDAN Industrial Development Centre in Idu, Abuja, in partnership with SMEDAN and the United Nations Development Programme (UNDP).

The project will provide workspaces, digital facilities, training, incubation and enterprise support, with an initial target of 500 entrepreneurs, 400 start-ups and 1,500 MSMEs. About $5.9 million will be spent on construction, while $6.1 million will fund equipment and entrepreneurship programmes.  

The centre is also designed to support women and persons with disabilities through accessible facilities and crèche services, while serving businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja.  

Tinubu said the Federal Government would continue to support initiatives that enable Nigerians to establish, strengthen and expand businesses, noting the importance of MSMEs to employment, incomes and economic activity.