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President Bola Ahmed Tinubu has hailed the construction of the $12 million Abuja Centre for Entrepreneurship, saying it will strengthen Nigeria’s micro, small and medium enterprises ecosystem and support business growth and job creation.
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 Nigerian Government through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and the United Nations Development Programme (UNDP).
The project is expected to provide facilities, technology, 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.
Of the $12 million investment, $5.9 million will go to 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 forms of support.
“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 centre will serve businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja, while contributing to entrepreneurship and MSME development across Northern Nigeria.
Tinubu said the Nigerian Government would continue to create conditions that enable 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 investments in digital skills, entrepreneurship, enterprise development and MSME support.
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 build a wider support system around the centre.
They will also identify businesses that could benefit from the centre’s programmes.
Tinubu thanked the South Korean Government for the $12 million investment and commended KOICA, UNDP and SMEDAN for advancing the project to the construction stage.
He said Nigeria would continue to welcome investments and partnerships that strengthen local businesses, deepen enterprise development and create jobs.
“Our economy will be stronger when more Nigerian businesses can start, survive and grow.
“We must keep building the support around them and opening more opportunities for enterprise across the country,” Tinubu said.
STATEHOUSE PRESS RELEASE
TINUBU WELCOMES $12 MILLION ABUJA ENTREPRENEURSHIP CENTRE TO STRENGTHEN NIGERIA’S MSME ECOSYSTEM
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President Bola Ahmed Tinubu has welcomed the construction of the $12 million Abuja Centre for Entrepreneurship, saying the project will strengthen… pic.twitter.com/drsMxj3EIA
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