President Bola Tinubu has welcomed the $12m Abuja Centre for Entrepreneurship (ACE), funded by South Korea.
The facility is expected to support 500 entrepreneurs, 400 start-ups and 1,500 micro, small and medium enterprises (MSMEs).
The centre is being developed at the SMEDAN Industrial Development Centre in Idu, Abuja, through the Korea International Cooperation Agency (KOICA), in partnership with the Federal Government and the United Nations Development Programme (UNDP).
Presidential spokesperson, Bayo Onanuga, in a statement on Wednesday, said the investment comprises $5.9 million for construction and $6.1 million for equipment and entrepreneurship programmes.
According to Onanuga, Tinubu said the facility would provide workspaces, digital facilities, training, incubation and enterprise development services for small 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. This Centre will provide more of that support and strengthen the ecosystem around them,” the President said.
The Centre is expected to serve businesses in Abuja and neighbouring cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja.
It will also include facilities for women and persons with disabilities, including accessible infrastructure and crèche services for women with young children.
The project is part of broader government programmes focused on digital skills, entrepreneurship, enterprise development and support for MSMEs, according to the Presidency.
While construction continues, SMEDAN, KOICA and UNDP are expected to work with universities, incubators, financial institutions, private-sector organisations and entrepreneur networks to identify businesses that could benefit from the Centre’s programmes.
The centre is also expected to contribute to the development of entrepreneurship and MSME support in Northern Nigeria.
Tinubu said the Federal Government would continue to support the establishment and expansion of businesses.
“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.
