President Bola Tinubu has welcomed the development of a $12 million Abuja Centre for Entrepreneurship, funded by the South Korean government to support entrepreneurs and small businesses in Nigeria.
The centre, being developed at the SMEDAN Industrial Development Centre in Idu, Abuja, is expected to support 500 entrepreneurs, 400 start-ups and 1,500 micro, small and medium enterprises (MSMEs).
The project is being implemented through the Korea International Cooperation Agency (KOICA), in partnership with the federal government and the United Nations Development Programme (UNDP).
Presidential spokesperson, Bayo Onanuga, disclosed this in a statement on Wednesday, saying the investment comprises $5.9 million for construction and $6.1 million for equipment and entrepreneurship programmes.
According to Onanuga, the facility will provide workspaces, digital facilities, training, business incubation and enterprise development services to entrepreneurs and small businesses.
Tinubu said the centre would strengthen support for entrepreneurs, particularly by improving their access to infrastructure, technology and training.
“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.
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“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.
The facility will also have provisions for women and persons with disabilities, including accessible infrastructure and crèche services for women with young children.
The Presidency said the project forms part of broader government efforts to promote digital skills, entrepreneurship, enterprise development and support for MSMEs.
While construction continues, SMEDAN, KOICA and UNDP are expected to collaborate with universities, business incubators, financial institutions, private-sector organisations and entrepreneur networks to identify businesses that could benefit from the centre’s programmes.
The initiative is also expected to contribute to the expansion of entrepreneurship and MSME support across Northern Nigeria.
Tinubu said his administration would continue to support the establishment and expansion of businesses across the country.
“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.
