Abuja: Mr. John Enoh, Minister of State for Industry, announced that the Abuja Centre for Entrepreneurship (ACE) will be fully functional and operational by December 2027, following its completion. Enoh made this statement at the Groundbreaking Ceremony of the ACE, under the Small and Medium Enterprises Development Agency (SMEDAN).
According to News Agency of Nigeria, the ACE project is funded by the Korea International Cooperation Agency (KOICA) and implemented by the United Nations Development Programme (UNDP). It aims to support 500 young entrepreneurs and 400 startups in sectors such as FinTech, EdTech, HealthTech, and AgriTech, while also serving MSMEs across Abuja and surrounding northern cities.
The ceremony marked the shift from planning and site preparation to physical construction. Enoh emphasized that the project is an opportunity for entrepreneurs, innovators, and businesses across Nigeria to grow without barriers, with the Federal Government securing commitments to move the project from groundb
reaking to completion. The centre will provide training, formalization, and investment-readiness support, fostering collaboration among incubators, investors, and entrepreneurs.
The facility will include provisions for Persons with Disabilities (PWDs) and gender considerations, showcasing Nigerian creativity, visual arts, and cultural expression. The Federal Government is also working on the Nigerian Industrial Cluster Programme to strengthen industrial clusters across the country.
Dr. Charles Odii, Director-General of SMEDAN, stated that the agency is developing a programme to extend entrepreneurship development nationwide. SMEDAN’s industrial development centres will be repositioned as productive hubs, with the UNDP supporting the solarisation of the Idu facility to attract small businesses.
Odii highlighted that Nigeria has 39,624 micro, small, and medium enterprises, and called for increased support, noting the limited funding available. He thanked Korea and its partners for their support, emphasizing
the potential for Nigerian and Korean small-business owners to build stronger value chains.
Yo-an Jeong, Ambassador of the Republic of Korea to Nigeria, described the groundbreaking as a milestone in the partnership between both countries. He stressed the importance of investing in education and human potential, with Korea’s development experience serving as an example for Nigeria.
Jeong expressed hope that ACE would become a platform for innovation, enterprise development, and a bridge connecting ideas with investment opportunities. He commended the collaboration among government, development partners, and private-sector stakeholders for the project’s success.