The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), in partnership with the United Nations Development Programme (UNDP) and the Republic of Korea through the Korea International Cooperation Agency (KOICA), has broken ground for the Abuja Centre for Entrepreneurship (ACE), a $12 million innovation hub aimed at empowering young entrepreneurs, women, start-ups and micro, small and medium-sized enterprises (MSMEs) across Abuja and Northern Nigeria.
The groundbreaking ceremony, held on Thursday at SMEDAN’s Industrial Development Centre in Idu, Abuja, marked the official commencement of construction of the centre, which stakeholders described as a major investment in Nigeria’s entrepreneurship ecosystem and youth-driven economic transformation.
The centre is funded by KOICA with a contribution of $12 million, with SMEDAN serving as the government partner and UNDP acting as the infrastructure delivery partner.
When completed, ACE will provide dedicated spaces for digital skills training, enterprise incubation, co-working, business support services, innovation programmes and entrepreneurship development.
Speaking at the ceremony, SMEDAN Director-General and Chief Executive Officer, Charles Odii, said the project aligns with the agency’s GROW Nigerian Strategy, which prioritises skills development, access to finance, market opportunities and productive infrastructure for small businesses.
Odii said the centre would expand opportunities for entrepreneurs by providing access to facilities many emerging businesses cannot afford independently.
“We have made skills development, access to finance and markets, and productive infrastructure central to fulfilling our mandate to build the enterprises that will carry this economy forward,” he said.
“The Abuja Centre for Entrepreneurship gives that commitment a physical home. This partnership with KOICA and UNDP strengthens SMEDAN’s capacity to deliver at scale, and it speaks directly to the Federal Government’s priority of job creation, industrialisation and an economy powered by its young people.”
He added that the facility would offer workspaces and specialist infrastructure capable of supporting business growth and innovation.
The Ambassador of the Republic of Korea to Nigeria, H.E. Jeong Yo-an, said the Abuja Centre for Entrepreneurship reflects the growing partnership between Nigeria and the Republic of Korea, adding that development cooperation between both countries is producing tangible results for Nigerians.
The ambassador said KOICA has served as one of the key channels through which the friendship between both countries has been translated into practical development projects.
“KOICA has been privileged to be one of the instruments through which the friendship between our two countries is translated into tangible outcomes,” Jeong Yo-an said.
“Projects such as the Abuja Centre for Entrepreneurship demonstrate that diplomacy is not only conducted in meeting rooms or through formal agreements; it is also built through the schools we support, the skills we develop, the businesses we empower and the communities we strengthen together.”
He said the entrepreneurship centre represents another milestone in Korea’s commitment to supporting innovation, skills development and enterprise growth in Nigeria, particularly for young entrepreneurs and MSMEs.
Delivering the keynote address on behalf of Vice President Kashim Shettima, Deputy Chief of Staff to the President, Senator Ibrahim Hassan Hadejia, described ACE as an important component of President Bola Tinubu’s Renewed Hope Agenda, which focuses on economic transformation, human capital development and job creation.
Hadejia said Nigeria’s youthful population could only become an economic advantage if young people had access to skills, finance, infrastructure and markets.
“The objective cannot simply be to train more people. We must create pathways through which skills lead to jobs, jobs lead to enterprise, and enterprise drives economic growth,” he said.
According to him, the centre complements several ongoing federal initiatives, including the Nigeria Jubilee Fellows Programme (NJFP), the Expanded MSME Clinics, the Investment in Digital and Creative Enterprises (iDICE) programme, and the Office of the Vice President’s Skills and Industry Alignment Roundtables.
He stressed that ACE should not operate as a standalone building but as part of a broader entrepreneurship ecosystem connecting universities, incubators, technology firms, financial institutions and development partners.
“ACE should not be viewed as an isolated entrepreneurship centre. It should be seen as part of a broader ecosystem connecting skills, employment, entrepreneurship, innovation and enterprise growth,” he said.
Hadejia also urged stakeholders to begin developing entrepreneurs and partnerships before the centre is completed.
“By the time this facility is completed, we should not be starting from zero. We should already have entrepreneurs ready for incubation, businesses ready to scale, institutional partners ready to collaborate and pathways to finance and markets ready.”
He added that the project’s success would ultimately be measured by businesses created, jobs generated and opportunities provided for women, young people and persons with disabilities.
UNDP Resident Representative in Nigeria, Elsie Attafuah, said ACE was designed to help convert Nigeria’s demographic advantage into sustainable businesses and decent jobs.
She noted that with more than 75 million Nigerians between the ages of 15 and 35, the country possesses enormous entrepreneurial potential, but many young people struggle with access to finance, infrastructure, business support and innovation spaces.
“The question is how we help more of that talent succeed,” Attafuah said.
She said entrepreneurship in Nigeria requires much more than innovative ideas.
“Young entrepreneurs often have to navigate several challenges at the same time: acquiring the right skills, finding reliable infrastructure, accessing finance, understanding markets, finding customers and building the networks that can help a business move beyond its early stages.”
Attafuah said ACE would bring together skills development, mentorship, technology, incubation, business advisory services and networking opportunities under one roof.
She also recalled UNDP’s earlier intervention at the Idu facility, where the agency installed a 120KVA solar-powered mini-grid in 2024 to improve productivity for businesses operating within SMEDAN’s Common Facility Centre.
“For UNDP, being part of ACE is about more than supporting a facility. It is about working with Nigerian institutions to create an environment in which people can turn their capabilities and ideas into productive opportunities.”
She expressed optimism that the centre would eventually produce businesses capable of attracting investment, entering new markets and creating jobs.
KOICA Nigeria Country Director, Kim Eunsub, said the entrepreneurship centre demonstrates the strengthening development partnership between Nigeria and South Korea.
According to him, Korea believes Nigeria’s young population possesses significant creativity and entrepreneurial potential.
“The Abuja Centre for Entrepreneurship is a concrete expression of the strong and growing partnership between Korea and Nigeria,” Eunsub said.
“We believe that young Nigerians possess tremendous creativity and entrepreneurial potential. Through ACE, Korea is pleased to support an environment where this potential can be transformed into innovation, businesses and employment opportunities.”
He said the centre is expected to become a long-term platform for entrepreneurship, innovation, knowledge exchange and cooperation between both countries.
expected to directly support 500 prospective young entrepreneurs and 400 start-ups operating in sectors including FinTech, EdTech, HealthTech and AgriTech, alongside MSMEs from Abuja and neighbouring cities.
The facility will include Incubation and acceleration spaces, digital training laboratories and hot-desk and co-working offices.
It will also include Time-share office spaces, meeting rooms and collaboration hubs and enterprise support and mentorship facilities.
Beyond Abuja, the project is expected to benefit entrepreneurs across Northern Nigeria through partnerships with universities, innovation hubs, financial institutions and private-sector organisations.
Project partners said inclusion and sustainability are central to the design of the Abuja Centre for Entrepreneurship.
According to SMEDAN and UNDP, the facility will be fully accessible to persons with disabilities and older persons, while also incorporating gender-responsive features such as crèche facilities.
The building will also utilise renewable energy systems, low embodied-carbon construction technologies and locally sourced bio-renewable materials as part of its environmentally sustainable design.
Stakeholders said work on entrepreneurship development would begin even before construction is completed through an ACE Incubation Pipeline.
The initiative will engage incubators, universities and innovation partners to begin running affiliated programmes during the construction phase, ensuring the centre has entrepreneurs and start-ups ready for incubation immediately after commissioning.
The centre will also connect entrepreneurs with institutions responsible for business registration, investment promotion, export support, digital innovation, enterprise financing and skills development.
The Abuja Centre for Entrepreneurship supports Nigeria’s MSME and startup policy frameworks as well as the United Nations Sustainable Development Cooperation Framework (2023–2027).
The project also contributes to Sustainable Development Goals 4 (Quality Education), 8 (Decent Work and Economic Growth), 9 (Industry, Innovation and Infrastructure), and 17 (Partnerships for the Goals).
The groundbreaking ceremony was attended by senior government officials, development partners, private-sector leaders, financial institutions, innovation hubs, universities, entrepreneurs, women-led organisations and representatives of persons with disabilities, highlighting the broad coalition expected to drive the centre’s entrepreneurship ecosystem once operational.
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