The Federal Government has commenced construction of a $12 million entrepreneurhip and innovation centre in Abuja aimed at helping young Nigerians develop businesses, access support and turn their skills into sustainable enterprises.
The Abuja Centre for Entrepreneurship (ACE) is being developed by the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) in partnership with the United Nations Development Programme (UNDP), with funding from the Republic of Korea through the Korea International Cooperation Agency (KOICA).
The groundbreaking ceremony took place at SMEDAN’s Idu Industrial Development Centre in Abuja on Thursday, marking the beginning of physical construction of the facility.
The centre is expected to provide workspaces, training facilities, incubation areas, meeting rooms and other infrastructure designed to support entrepreneurs and Micro, Small and Medium-sized Enterprises.
Government officials said the initiative is intended to create a stronger link between skills development, employment, entrepreneurship, innovation and economic growth.
Speaking at the ceremony, Deputy Chief of Staff to the President, Ibrahim Hassan Hadejia, said training alone would not be enough to address Nigeria’s employment challenges.
He said young Nigerians needed pathways through which acquired skills could lead to jobs, businesses and broader economic opportunities.
The facility is expected to support about 500 prospective young entrepreneurs and 400 start-ups, with focus areas including financial technology, education technology, health technology and agricultural technology.
It will also provide support to MSMEs operating in Abuja and surrounding areas, while creating opportunities for partnerships with universities, financial institutions, technology companies, incubators and private-sector organisations.
SMEDAN Director-General Charles Odii said the project formed part of the agency’s broader strategy of improving access to skills, finance, markets and productive infrastructure for Nigerian businesses.
The UNDP Resident Representative in Nigeria, Elsie Attafuah, said the centre could help young Nigerians convert their ideas and abilities into businesses and employment opportunities.
She noted that Nigeria has a large youth population but that many young people and small businesses continue to face challenges including limited access to finance, digital infrastructure, business support and suitable innovation spaces.
KOICA Country Director in Nigeria, Kim Eunsub, described the project as part of South Korea’s cooperation with Nigeria in supporting innovation, entrepreneurship and MSME development.
Beyond the physical building, the partners plan to establish an entrepreneurship ecosystem involving incubators, universities, financial institutions, private companies and entrepreneur networks.
The project also includes an incubation pipeline that will allow partner institutions to run programmes during the construction period and prepare entrepreneurs for the centre’s first intake once it becomes operational.
The facility is expected to incorporate renewable energy, accessible infrastructure and environmentally friendly construction features.
For the Federal Government, the centre forms part of broader efforts to turn Nigeria’s large youth population into an economic advantage by connecting people with skills, finance, markets and opportunities.
The success of the project will ultimately depend on the businesses created, jobs generated, innovations commercialised and entrepreneurs supported through the facility.
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