From Scholastica Hir, Makurdi
The Group Managing Director/CEO of Benue Investment and Property Company Limited (BIPC), Dr. Raymond Asemakaha, has disclosed plans to establish the Benue Investment Trust Fund to boost Micro, Small and Medium Enterprises (MSMEs) in the state.
The MD disclosed this during a Zoom virtual town hall meeting titled “Advancing Economic Development in Benue State: Our Recent Achievements and the Future Outlook.”
Asemakaha said the fund will provide financial support and resources to young entrepreneurs, enabling them to start and grow their businesses.
He said the current initiatives of the company are aimed at redirecting Benue youths into the business ecosystem.
“By redirecting Benue youth into the business ecosystem, BIPC aims to create a vibrant entrepreneurial culture in the state. The establishment of the Benue Investment Trust Fund is a significant step towards achieving this goal, and it is expected to have a positive impact on the state’s economy.
“This initiative aims to empower young people in the state to become entrepreneurs and job creators,” he added.
The GMD stated that even though the state has multisectoral challenges, the state Governor, Rev Fr Hyacinth Alia, has headhunted technocrats like him who are fixing these issues and redirecting the state economy to reclaim its original place.
He pegged “jobs lost from 2014 to 2023 at 907,676 in the SMEs sector. This administration has been able to reverse the negative growth from -3.2% to positive within just one year. Output has to exceed population growth going forward. Presently, our output growth is low in relation to population growth.
“That is why we are coming up with effective strategies and policies such as Benue State’s inclusive economy policy, Benue State policy on micro, small, and medium enterprises, Benue State industrial and trade policy, among others, to create an enabling environment for businesses to thrive,” Asemakaha explained.
The virtual town hall meeting, hosted on Friday, 10 January 2025, by Irene Azubuike of Viider Consulting, provided a platform for stakeholders to engage with the BIPC boss and other contributors.
Participants shared their thoughts on the initiative, expressing hope in its potential to transform Benue’s business landscape.