By Ayomide Otitoju
President Bola Tinubu has welcomed the construction of the $12 million Abuja Centre for Entrepreneurship (ACE), saying the project will strengthen Nigeria’s micro, small and medium enterprises (MSME) ecosystem, support business growth and create jobs.
The centre is being developed at the SMEDAN Industrial Development Centre in Idu, Abuja, with funding from the Republic of Korea through the Korea International Cooperation Agency (KOICA), in partnership with the Federal Government through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the United Nations Development Programme (UNDP).
ACE is designed to provide training, incubation, digital facilities, workspaces and enterprise support for aspiring entrepreneurs, start-ups and growing businesses.
The centre initially targets 500 entrepreneurs, 400 start-ups and 1,500 MSMEs.
Of the $12 million investment, $5.9 million will be allocated to construction, while $6.1 million will fund equipment and programmes for entrepreneurs and businesses.
Tinubu, in a statement issued by his Special Adviser on Information and Strategy, Bayo Onanuga, on Wednesday, said the centre would help entrepreneurs establish, strengthen and expand 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.
He said many entrepreneurs had viable ideas and the determination to succeed but lacked adequate access to facilities, technology, training and other support needed to grow their businesses.
The centre will serve businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja, while contributing to the development of the entrepreneurship and MSME 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. We also want existing small businesses to have better access to the tools and support they need to become stronger and more productive,” he said.
The President said the project complemented the administration’s investments in digital skills, entrepreneurship, enterprise development and MSME support.
According to the statement, the centre has also been designed to accommodate women and persons with disabilities, with accessible facilities 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 establish a wider support system around the centre and identify businesses that can benefit from its programmes.
Tinubu commended the South Korean government for the investment and praised KOICA, UNDP and SMEDAN for advancing the project.
He said Nigeria would continue to welcome partnerships that strengthen local businesses, promote enterprise development and create jobs.
“Our economy will be stronger when more Nigerian businesses can start, survive and grow,” Tinubu said.
