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From Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu has welcomed the construction of a $12 million Abuja Centre for Entrepreneurship (ACE), saying the facility would provide critical support to thousands of entrepreneurs and small businesses, while strengthening Nigeria’s micro, small and medium enterprises (MSMEs) ecosystem.
The President said the centre, being developed at the SMEDAN Industrial Development Centre in Idu, Abuja, would help entrepreneurs move from ideas and start-ups to sustainable businesses capable of creating jobs and expanding economic activity.
Funded by the Republic of Korea, through the Korea International Cooperation Agency (KOICA), the project is being implemented in partnership with the Federal Government, through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the United Nations Development Programme (UNDP).
Under its initial programme, ACE is expected to support 500 entrepreneurs, 400 start-ups and 1,500 MSMEs with workspaces, digital facilities, training, incubation and enterprise development services.
Of the $12 million investment, $5.9 million will be spent on construction, while $6.1 million will finance equipment and programmes designed to support entrepreneurs and businesses.
In a statement by his Special Adviser on Information and Strategy, Bayo Onanuga, yesterday, the president said the centre would address some of the critical gaps confronting small businesses, particularly access to facilities, technology, skills and enterprise support.
“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 designed to serve entrepreneurs in Abuja and neighbouring cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja, while contributing to the development of a broader entrepreneurship and MSME support network across Northern Nigeria.
Tinubu said the investment was consistent with his administration’s efforts to create an enabling environment for businesses to start, survive, expand and employ more Nigerians.
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“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.
The President said the Abuja centre would complement other government’s investments in digital skills, entrepreneurship, enterprise development and MSME support.
Beyond its business facilities, ACE has been designed to improve access to entrepreneurship opportunities for women and persons with disabilities.
The centre will include accessible facilities, as well as crèche services for women with young children, potentially reducing some of the practical barriers that can limit their participation in entrepreneurship programmes.
While construction continues, SMEDAN, KOICA and UNDP are expected to work with universities, incubators, financial institutions, private-sector organisations and entrepreneur networks to establish a wider support system around the centre.
The partners will also identify businesses and entrepreneurs that could benefit from the centre’s programmes.
Tinubu commended the South Korean government for the $12 million investment and praised KOICA, UNDP and SMEDAN for taking the project to the construction stage.
He said Nigeria would continue to welcome investments and partnerships aimed at strengthening local businesses, deepening enterprise development and generating employment
“Our economy will be stronger when more Nigerian businesses can start, survive and grow.
“We must keep building the support around them and opening more opportunities for enterprises across the country,” the President said.
