President Tinubu

Author: Gist Correspondent

President Bola Ahmed Tinubu has welcomed the construction of the $12 million Abuja Centre for Entrepreneurship, describing the project as a boost to Nigeria’s Micro, Small and Medium Enterprises, MSME, ecosystem.

The Centre, funded by the Republic of Korea through the Korea International Cooperation Agency, KOICA, is being developed at the SMEDAN Industrial Development Centre in Idu, Abuja, in partnership with the Federal Government and the United Nations Development Programme, UNDP.

The project is expected to provide workspaces, digital facilities, training, incubation and enterprise support for aspiring entrepreneurs, start-ups and growing businesses.

It has an initial target of supporting 500 entrepreneurs, 400 start-ups and 1,500 MSMEs, while serving businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja.

Of the $12 million investment, $5.9 million will be spent on construction, while $6.1 million will fund equipment and programmes for entrepreneurs and businesses.

Tinubu said the Centre would help businesses establish, strengthen and expand their operations, stressing the importance of small businesses to job creation and economic activity.

“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 required better access to facilities, technology, training and other forms of support.

He added that the Federal Government would continue to create conditions that would enable small businesses to grow, become more productive and employ more Nigerians.

The Centre has also been 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 develop a wider support system around the Centre.

Tinubu thanked the South Korean government for the investment and commended KOICA, UNDP and SMEDAN for advancing the project to the construction stage.