President Bola Tinubu has thrown his weight behind a new $12 million entrepreneurship centre rising in Abuja.
The centre is designed to give small businesses across northern Nigeria better access to funding, training and modern facilities.
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 will 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.
About $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 establish, strengthen and grow businesses by improving access to facilities, technology, training and other support.
“Small businesses are an important part of our economy. They employ people, support families and create activity in communities across the country,” he said.
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“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 centre will serve businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja.
Tinubu said the Federal Government would continue to create conditions that enable small businesses to grow, become more productive and create jobs.
The project is also 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 build 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.
He said Nigeria would continue to welcome investments and partnerships that strengthen local businesses, deepen enterprise development and create jobs.
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