President Bola Ahmed Tinubu welcoming the construction of the $12 million Abuja Centre for Entrepreneurship, said the project will strengthen Nigeria’s MSME ecosystem and help more businesses grow, while more jobs would be created with expanded economic activity. adsbygoogle || []).push({});

This is contained in a statement on Tuesday, September 23, 2026, by his Special Adviser on Information and Strategy, Bayo Onanuga. The statement further revealed President Tinubu saying the Centre would help in establishing, strengthening and growing businesses.

The Centre, funded by the Republic of Korea through the Korea International Cooperation Agency (KOICA), is being developed at the SMEDAN Industrial Development Centre in Idu, Abuja, in partnership with the Federal Government through SMEDAN and the United Nations Development Programme (UNDP).

“Small businesses are an important part of our economy. They employ people, support families and create activity in communities across the country,” the President said.

“Many entrepreneurs already have the ideas and the determination to succeed. What they often need is better access to facilities, technology, training and the support that can help their businesses grow. This Centre will provide more of that support and strengthen the ecosystem around them.”

The Centre will support the wider MSME and entrepreneurship ecosystem, providing facilities, technology, training and enterprise support for aspiring entrepreneurs, start-ups and growing businesses, with an initial target of 500 entrepreneurs, 400 start-ups and 1,500 MSMEs.

About $5.9 million will go into construction, while $6.1 million will fund equipment and programmes for entrepreneurs and businesses.

According to the statement, ACE will provide workspaces, digital facilities, training, incubation and enterprise support for entrepreneurs, start-ups and growing businesses.

It will serve businesses in Abuja and surrounding cities, including Kaduna, Jos, Keffi, Lafia, Minna, Makurdi and Lokoja, while contributing to a stronger entrepreneurship and MSME ecosystem across Northern Nigeria.

President Tinubu said the Federal Government would continue to expand conditions that allow small businesses to grow and compete.

“We want more Nigerians to be able to start businesses, grow them and employ others. We also want existing small businesses to have better access to the tools and support they need to become stronger and more productive. That is important for jobs, incomes and the wider economy,” he said.

The President said the project complements the administration’s wider investments in digital skills, entrepreneurship, enterprise development and support for MSMEs.

The Centre has also been designed to accommodate women and persons with disabilities. It will include accessible facilities and crèche services for women with young children.

While construction is ongoing, SMEDAN, KOICA and UNDP will work with universities, incubators, financial institutions, private-sector organisations and entrepreneur networks to build a wider support system around the Centre and identify businesses that can benefit from its programmes.

President Tinubu thanked the Government of the Republic of Korea for the $12 million investment and commended KOICA, UNDP and SMEDAN for bringing the project to the construction stage.

He said Nigeria would continue to welcome investments and partnerships that strengthen local businesses, deepen enterprise development and create more jobs.

By AbdulRahman Obaje

With 32 banks meeting new capital requirements and 72 per cent of funds raised domestically, Nigeria’s banking sector emerges from its most significant reform cycle as the primary engine of the country’s capital mobilisation agenda

LONDON — When Nigeria’s banking recapitalisation exercise was announced, the debate centred largely on compliance: which banks would meet the threshold, and by when.

At The Africa Capital Forum’s inaugural convening in London on Tuesday, the conversation had moved on entirely. The question was no longer whether Nigeria’s banks could recapitalise. It was what a recapitalised Nigerian banking sector could now do for a $1 trillion economy.
The answer, according to the chief executives who gathered at The Peninsula London alongside President Bola Ahmed Tinubu’s UK state visit, is considerable.
Akin Ogunranti, Executive Director of Zenith Bank, set the tone early. “We need to give ourselves credit,” he told delegates. “The fact that over 72 per cent of the capital was raised locally is a major milestone.” That figure carries weight beyond optics. It signals that Nigerian capital markets are deepening, that domestic investors have confidence in the banking sector’s trajectory, and that the foundation for long-term growth is being built from within.

CBN Governor Olayemi Cardoso was direct about what the sector has become. “We are very proud of what the Nigerian banks have been able to accomplish,” he said. “They play a dominant role on the African continent and in the United Kingdom. They are our ambassadors.” Thirty-two banks have now met the CBN’s new capital requirements, and Cardoso described the system that has emerged as categorically different from what preceded it. “The financial system we had is dead and buried. What we have now is a new system that has brought liquidity and transparency.”

The implications for the broader economy were spelled out across the afternoon’s sessions. Yemisi Edun, Managing Director of First City Monument Bank, noted that recapitalisation had directly expanded the credit available to businesses: “The raised capital has created expansion of credits. The new recapitalisation has given more credibility to what we can do as industries.” Segun Alebiosu, Managing Director of First Bank, made the international dimension explicit. “With currency reforms, Nigerian banks will be able to take home bigger transactions. We can do more, and crowd new investments.” He added that Nigerian banks today maintain at least seven operations in the United Kingdom alone.

The scale of Nigerian banking’s continental footprint was perhaps most vividly illustrated by Oliver Alawuba, Group Managing Director of UBA, who noted that over 65 per cent of the bank’s revenue now comes from outside Nigeria. “That means that we can do more in Africa,” he said.
That outward reach is not incidental to the $1 trillion economy agenda. It is central to it. Miriam Olusanya, Managing Director of Guaranty Trust Bank, pointed to the restoration of correspondent banking relationships as a structural shift: “The confidence has been restored and corresponding banking relationships will continue to grow.” Those relationships determine Nigeria’s ability to facilitate cross-border trade, attract foreign investment, and participate in the global capital markets at the scale a $1 trillion economy requires.

Sanyade Okoli, Special Adviser to the President, framed the government’s position plainly: “The government alone cannot fund this growth. We need to work with partners who will bring the sticky, equity capital.” A recapitalised, internationally credible banking sector is how that partnership becomes possible.

Governor Cardoso closed by placing the banking sector’s transformation within its broadest context. “This is perhaps the first time in many years that we’ve had this level of consistent stability,” he said. “And it is likely to stay on course.”

The Africa Capital Forum was convened by the Central Bank of Nigeria in partnership with the UK Foreign, Commonwealth and Development Office and hosted by BBC News Presenter Lukwesa Burak. It was supported by Access Bank, FCMB, First Bank, Goldman Sachs, GTCO, J.P. Morgan, Nigerian Exchange Group, UBA, and Zenith Bank.

The Africa Capital Forum is an independent institutional convening platform dedicated to advancing strategic dialogue on capital mobilisation, financial system development, and investment into Africa. The Forum convenes senior leaders from global financial institutions, development finance organisations, central banks, and the private sector to examine the policy and market conditions shaping Africa’s economic trajectory.

From Joseph Amedu, Lokoja

Kogi State Governor, Alhaji Ahmed Usman Ododo has commended President Ahmed Bola Tinubu, for his visionary leadership and steadfast commitment to strengthening governance systems across the country through public finance reforms.





adsbygoogle || []).push({});

The Governor who stated this on Tuesday during the official commissioning of the Kogi State Audit House, said the ongoing national reforms in public finance management, institutional accountability, and economic restructuring under his administration have created an enabling environment for states to execute impactful projects that strengthen transparency and improve service delivery.

“We remain fully aligned with the Renewed Hope Agenda and deeply appreciate the support extended to sub-national governments.

Governor Ododo also acknowledge and commended Chief James Onanefe Ibori, former Governor of Delta State, who he described as a respected statesman and distinguished son of Niger Delta, for presence to commission the Audit House.

Speaking further on Chief Ibori, the governor said “Your contributions to governance, leadership, and national development continue to inspire many of us, and we are deeply grateful for your solidarity with the Government and people of Kogi State on this historic day.

“I therefore use this opportunity to specially welcome our visiting dignitaries, Auditors-General from across the Federation, party leaders, members of civil society organizations, development partners, and all friends of Kogi State who have honored us with their presence today.

“Your participation underscores the national significance of this event and the shared responsibility we all bear in strengthening democratic accountability and public sector performance in Nigeria.

“As we mark this commissioning, let this facility serve not only as an administrative center, but as a symbol of our collective resolve to uphold integrity, professionalism, and transparency in the management of public resources.

“It should also stand as a model and inspiration to other states to invest deliberately in institutional frameworks that support effective oversight and responsible governance.

“In conclusion, I reaffirm the commitment of my administration to building systems that protect public interest, strengthen public institutions, and promote inclusive development. The Kogi State Audit House represents a major step in that direction.

“It is therefore my honor and privilege, with gratitude to Almighty God and in recognition of his distinguished service to our nation, to invite His Excellency, Chief James Onanefe Ibori, former Governor of Delta State, to kindly perform the official commissioning of the Kogi State Audit House. The governor said.

While commissioning the edifice, Chief Ibori commended the the Kogi State Governor, Alhaji Ahmed Usman Ododo for his effort in promoting accountability and transparency in governance through institutional support.

He called on the people of the state to continue to support the programmes and vision of the Governor Ododo administration, saying that this will enhance all round development of the state.

“Let me commend Governor Ododo for his effort in promoting accountability and transparency in governance. I therefore called on all citizens of the state to continue to give their support to the administration, which will enhance all round development of the state.

Speaking earlier, the Auditor General of Local Government, Alhaji Yakubu Adabenege, noted that the commissioning of the Audit House was a dream come through.

Speaking further he said “Someone may ask why the audit house at this time. I have to tell the story for your record and for history. What you are seeing here today is beyond an ordinary building, it’s God’s own project, it is a dream come true.

“From this Audit House, we promise to put our body and soul to support your administration to achieve all its set goals. We shall follow every kobo, every resource deployed to its final intended destination, for you to leave many more lasting legacies for our dear Kogi State. He stressed

In his remarks, the Commissioner for Housing and Urban development, Hon. Taiye Abanika, noted that the Audit House stands as further proof of the Governor’s promise to support critical institutions with the needed infrastructures to enable them perform their responsibilities effectively.

He said It also reflects the governor’s firm belief that accountability and good governance can function effectively, if they are properly equipped and empowered.

“I sincerely appreciate the Governor for his trust in us and for his consistent support in the execution of this and all other projects across the state.