$12m Entrepreneurship Centre to Boost MSMEs, Strengthen Economy – Tinubu
President Bola Ahmed Tinubu has welcomed the construction of the $12 million Abuja Centre for Entrepreneurship, saying the project will strengthen Nigeria’s MSME ecosystem, help businesses grow and create jobs.
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 through SMEDAN and the United Nations Development Programme.
Bayo Onanuga, Special Adviser to the President on Information and Strategy in a statement said the center will support the “MSME and entrepreneurship ecosystem, provide facilities, technology, training and enterprise support for aspiring entrepreneurs, start-ups and growing businesses, with an initial target of 500 entrepreneurs, 400 start-ups and 1,500 MSMEs.
“About $5.9 million will go into construction, while $6.1 million will fund equipment and programmes for entrepreneurs and businesses,” he said.
President Tinubu said the Centre would help in establishing, strengthening and growing businesses.
“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.
“This Centre will provide more of that support and strengthen the ecosystem around them,” the President said.
The Presidency said it will serve businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja, while contributing to a stronger entrepreneurship and MSME ecosystem across Northern Nigeria.
President Tinubu said the Federal Government would continue to expand the conditions that allow small businesses to grow and compete.
“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. That is important for jobs, incomes and the wider economy,” he said.
The President said the project complements the administration’s wider investments in digital skills, entrepreneurship, enterprise development and support for MSMEs.
While construction is ongoing, SMEDAN, KOICA and UNDP will work with universities, incubators, financial institutions, private-sector organisations and entrepreneur networks to build a wider support system around the Centre and identify businesses that can benefit from its programmes, the statement said.