Tinubu hails $12m Abuja entrepreneurship centre

ABUJA — President Bola Tinubu has welcomed the construction of the $12 million Abuja Centre for Entrepreneurship, saying the facility will strengthen Nigeria’s micro, small and medium enterprises, MSMEs, ecosystem and create more opportunities for businesses to grow.

The President said the centre would provide entrepreneurs, start-ups and growing businesses with access to facilities, technology, training and enterprise support.

The facility is being developed at the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, Industrial Development Centre in Idu, Abuja, with funding from the Republic of Korea through the Korea International Cooperation Agency, KOICA.

It is being implemented in partnership with the Federal Government through SMEDAN and the United Nations Development Programme, UNDP.

According to a statement by Bayo Onanuga, Special Adviser to the President on Information and Strategy, $5.9 million of the investment would be spent on construction, while $6.1 million would fund equipment and programmes for entrepreneurs and businesses.

Tinubu said the centre would help establish, strengthen and grow businesses.

“Small businesses are an important part of our economy. They employ people, support families and create activity in communities across the country,” he said.

The President said many entrepreneurs already had the ideas and determination to succeed but needed better access to facilities, technology, training and other support.

The centre is expected to support 500 entrepreneurs, 400 start-ups and 1,500 MSMEs in its initial phase.

It will provide workspaces, digital facilities, training, incubation and enterprise support for businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja.

Tinubu said the Federal Government would continue to create conditions that would enable small businesses to grow and compete.

“We want more Nigerians to be able to start businesses, grow them and employ others,” he said.

The President said the project complemented the administration’s investments in digital skills, entrepreneurship, enterprise development and MSME support.

The centre is also 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 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 that could benefit from the centre’s programmes.

Tinubu thanked the South Korean government for the $12 million investment and commended KOICA, UNDP and SMEDAN for advancing 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 creating jobs.

“Our economy will be stronger when more Nigerian businesses can start, survive and grow,” the President said.