ABUJA, September 23, 2026 — President Bola Ahmed Tinubu has welcomed the development of a $12 million Abuja Centre for Entrepreneurship (ACE), describing the project as an important initiative to strengthen Nigeria’s micro, small and medium enterprise (MSME) ecosystem.
According to information contained in a statement issued by the Presidency, the centre is being funded by the Republic of Korea through the Korea International Cooperation Agency (KOICA) and developed at the SMEDAN Industrial Development Centre in Idu, Abuja, in partnership with the Federal Government through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the United Nations Development Programme (UNDP).
The project is designed to provide workspaces, digital facilities, training, incubation and enterprise support for aspiring entrepreneurs, start-ups and established businesses.
The initiative has an initial target of supporting 500 entrepreneurs, 400 start-ups and 1,500 MSMEs, with a wider focus on strengthening the entrepreneurship ecosystem across Northern Nigeria.
President Tinubu said small businesses play an important role in the economy by creating employment, supporting families and generating 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 was quoted as saying.
Under the project, approximately $5.9 million will be allocated to construction, while $6.1 million will fund equipment and programmes for entrepreneurs and businesses.
The centre will serve businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja, according to the Presidency.
The project is also designed to accommodate women and persons with disabilities, with accessible facilities and crèche services planned for women with young children.
While construction continues, SMEDAN, KOICA and UNDP are expected to collaborate with universities, business incubators, financial institutions, private-sector organisations and entrepreneur networks to establish a broader support system around the centre and identify businesses that could benefit from its programmes.
Tinubu said the project complements the Federal Government’s broader investments in digital skills, entrepreneurship, enterprise development and MSME support.
He also thanked the Government of the Republic of Korea for the $12 million investment and commended KOICA, UNDP and SMEDAN for advancing the project to the construction stage.
“We want more Nigerians to be able to start businesses, grow them and employ others,” the President said, adding that the government would continue to welcome investments and partnerships aimed at strengthening local businesses and creating jobs.
The Presidency said the initiative is expected to contribute to a stronger entrepreneurship and MSME support network as businesses across the region gain access to facilities, technology, training and enterprise-development services.
