President Bola Tinubu has welcomed the launch of the Abuja Centre for Entrepreneurship (ACE), a $12 million facility designed to provide cutting-edge resources, technology, training, and enterprise support to at least 500 entrepreneurs, 400 start-ups, and 1,500 Micro, Small, and Medium Enterprises (MSMEs).
Located at the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) Industrial Development Centre in Idu, Abuja, the project is funded by the Republic of Korea through the Korea International Cooperation Agency (KOICA). It is being implemented in a tripartite partnership involving the Federal Government (via SMEDAN), KOICA, and the United Nations Development Programme (UNDP).
The $12 million investment is split strategically:
-
$5.9 million is dedicated to building construction.
-
$6.1 million is allocated for advanced equipment and capacity-building programmes.
Highlighting the critical role of small businesses in driving community employment and economic activity, President Tinubu noted that the facility directly addresses the operational hurdles faced by growing enterprises.
“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 stated.
Beyond workspace, the facility will offer digital resources, incubation programs, and specialised enterprise support. While based in Abuja, ACE is strategically positioned to serve businesses across surrounding regions, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi, and Lokoja, serving as a catalyst for Northern Nigeria’s MSME ecosystem.
Designed with inclusivity in mind, the Centre features specialised accessibility provisions for persons with disabilities and integrated crèche services for working mothers.
During the construction phase, SMEDAN, KOICA, and UNDP will collaborate with universities, financial institutions, and private-sector networks to build a robust support framework. Praising the Republic of Korea for the partnership, President Tinubu reaffirmed his administration’s commitment to fostering an environment where indigenous businesses can start, scale, and compete globally.
