Tinubu backs $12m entrepreneurship hub for Nigerian start-ups, MSMEs

President Bola Tinubu has welcomed the construction of a $12 million Abuja Centre for Entrepreneurship, describing the project as an investment in Nigeria’s small business ecosystem and job creation.

The centre is being developed at the Small and Medium Enterprises Development Agency of Nigeria’s Industrial Development Centre in Idu, Abuja, through a partnership involving SMEDAN, the United Nations Development Programme and the Korean government through the Korea International Cooperation Agency.

Construction of the facility commenced following a groundbreaking ceremony in Abuja last week.

According to the Presidency, the centre will provide workspaces, digital facilities, training, incubation and enterprise support for aspiring entrepreneurs, start-ups and existing micro, small and medium-sized enterprises.

It is expected to initially support 500 entrepreneurs, 400 start-ups and about 1,500 MSMEs.

The $12 million funding will cover both construction and the provision of equipment and programmes, with $5.9 million allocated to construction and $6.1 million for equipment and entrepreneurship programmes.

Tinubu said small businesses remained important to the Nigerian economy because of their contribution to employment, household incomes and economic activity in communities.

“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,” the President said.

He said the centre would strengthen the support available to entrepreneurs and help create conditions for more Nigerian businesses to start, survive and expand.

The facility is expected to serve entrepreneurs in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja, while contributing to entrepreneurship development across Northern Nigeria.

The centre will also incorporate facilities designed to improve access for women and persons with disabilities, including accessible infrastructure and crèche services for women with young children.

Beyond the physical facility, SMEDAN, KOICA and UNDP are expected to work with universities, incubators, financial institutions, private-sector organisations and entrepreneur networks to establish a broader support system around the centre.

The partners are also expected to identify businesses that can benefit from the centre’s programmes even before construction is completed.

Tinubu said the project complemented other government efforts in digital skills, entrepreneurship and MSME development.

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

The President thanked the South Korean government for the investment and commended KOICA, UNDP and SMEDAN for bringing the project to the construction stage.

He said the Federal Government would continue to support partnerships aimed at strengthening Nigerian businesses and creating employment opportunities.