New Entrepreneurship Centre to Boost Nigerian MSMEs

A $12 million centre in Abuja aims to support entrepreneurs and start-ups, funded by Korea.

President Bola Ahmed Tinubu has welcomed the construction of a state-of-the-art Entrepreneurship Centre in Abuja, valued at $12 million. This initiative is funded by the Republic of Korea through the Korea International Cooperation Agency. The Centre targets the growth of Nigeria's MSME ecosystem, supporting 500 entrepreneurs, 400 start-ups, and 1,500 MSMEs. Located at the SMEDAN Industrial Development Centre in Idu, it will offer workspaces, digital resources, and training. The Federal Government is working with SMEDAN and the UNDP to realize this project. Of the total investment, $5.9 million is allocated for construction, while $6.1 million supports equipment and entrepreneurial programs. The facility will also cater to women and persons with disabilities, offering accessible facilities and crèche services. President Tinubu extended his gratitude to the Republic of Korea for this significant contribution to Nigeria's economic development.