President Bola Ahmed Tinubu has welcomed the commencement of construction of the $12 million Abuja Centre for Entrepreneurship (ACE), an initiative designed to strengthen Nigeria’s micro, small and medium enterprises (MSMEs) and support entrepreneurs and start-ups.
The centre is being developed at the SMEDAN Industrial Development Centre in Idu, Abuja, with funding from the Republic of Korea through the Korea International Cooperation Agency (KOICA). The project is being implemented in partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the United Nations Development Programme (UNDP).
Construction officially moved into the physical development phase following a groundbreaking ceremony at the Idu facility on September 18, 2026.
Centre to Support 500 Entrepreneurs, 400 Start-ups
According to the Presidency, the Abuja Centre for Entrepreneurship will initially support 500 aspiring entrepreneurs, 400 start-ups and 1,500 MSMEs.
The facility is expected to provide workspaces, digital infrastructure, training, incubation and enterprise-development support to businesses at different stages of growth.
The $12 million investment is divided between construction and programme-related components, with approximately $5.9 million allocated to construction and $6.1 million for equipment and entrepreneurship programmes.
The centre is also expected to serve entrepreneurs beyond Abuja, with planned connections to businesses and enterprise-support networks in cities including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja.
Tinubu Welcomes Korea’s Support
Tinubu said the project would help address some of the infrastructure, technology and business-support gaps faced by entrepreneurs and small businesses.
The President said the government wanted more Nigerians to be able to establish, grow and sustain businesses, while improving access to tools and support for existing enterprises.
He also thanked the South Korean government for its investment and commended KOICA, SMEDAN and UNDP for advancing the project to the construction stage.
Focus on Inclusion and Enterprise Development
The centre has been designed to accommodate women and persons with disabilities, with accessible facilities and provisions for crèche services for women with young children.
During construction, SMEDAN, KOICA and UNDP are expected to work with universities, business incubators, financial institutions, private-sector organisations and entrepreneur networks to establish a broader support ecosystem around the centre.
The partners also plan to identify businesses that could benefit from the centre’s programmes once operations begin.
The project is intended to provide more than physical infrastructure, with its wider objective being to connect entrepreneurship training, digital skills, incubation, finance, markets and enterprise development.
With construction now underway, attention will turn to completing the facility and developing the programmes and partnerships needed to support the entrepreneurs, start-ups and MSMEs targeted by the initiative.