SMEDAN and Partners Launch $12M Abuja Innovation Hub

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 commenced the construction of the Abuja Centre for Entrepreneurship (ACE). This $12 million innovation hub, located at SMEDAN’s Industrial Development Centre in Idu, Abuja, aims to empower young entrepreneurs, women, start-ups, and micro, small, and medium-sized enterprises (MSMEs) in Abuja and Northern Nigeria.

The groundbreaking ceremony took place on Thursday, marking a significant investment in Nigeria’s entrepreneurship ecosystem. SMEDAN Director-General and CEO, Charles Odii, stated that the project aligns with the agency’s GROW Nigerian Strategy, focusing on skills development, access to finance, and market opportunities.

The centre will provide spaces for digital skills training, enterprise incubation, and business support services. H.E.

Jeong Yo-an, the Ambassador of the Republic of Korea to Nigeria, emphasized the project’s role in enhancing the partnership between Nigeria and Korea.