President Bola Tinubu has welcomed the development of a $12 million entrepreneurship centre in Abuja, describing the project as a significant investment in Nigeria’s small business ecosystem and a major step toward supporting innovation, job creation and enterprise development.
The facility, known as the Abuja Centre for Entrepreneurship, is being funded by the Republic of Korea through the Korea International Cooperation Agency (KOICA) in partnership with the Federal Government, the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the United Nations Development Programme (UNDP).
According to details released by the Presidency, approximately $5.9 million has been earmarked for the construction of the facility, while an additional $6.1 million will fund equipment, training programmes and operational support services.
The centre is being developed within the SMEDAN Industrial Development Centre in Idu, Abuja, and is expected to serve as a hub for entrepreneurship, innovation and business development.
Presidential spokesman Bayo Onanuga said the facility would provide modern workspaces, digital infrastructure, business incubation services, training programmes and enterprise support aimed at helping entrepreneurs transform ideas into sustainable businesses.
The project is expected to directly support about 500 entrepreneurs, 400 start-ups and 1,500 micro, small and medium-sized enterprises (MSMEs) in its initial phase.
Beyond Abuja, the centre will extend its reach to entrepreneurs in neighbouring cities and states, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja, with the broader objective of strengthening entrepreneurship and innovation across Northern Nigeria.
President Tinubu noted that many Nigerians possess the creativity, determination and business ideas needed to succeed but often lack access to the facilities, technology, mentorship and support systems necessary for growth.
He described the entrepreneurship centre as an important intervention that would help bridge those gaps and create opportunities for emerging businesses to scale up operations and contribute more effectively to the economy.
The President also highlighted the centre’s inclusive design, noting that it will provide facilities tailored to women entrepreneurs and persons with disabilities. The project includes accessible infrastructure and crèche services to make participation easier for a wider range of beneficiaries.
Construction of the facility is currently underway, with SMEDAN, KOICA and UNDP collaborating with universities, innovation hubs, business incubators and private-sector organisations to establish a broader support network for entrepreneurs.
Stakeholders believe the project could play a key role in strengthening Nigeria’s MSME sector, which remains one of the largest sources of employment and economic activity in the country.
As construction progresses, expectations are growing that the centre will become a major platform for nurturing innovation, supporting start-ups and expanding opportunities for small businesses seeking to compete in an increasingly digital and interconnected economy.
