The Benue Investment and Property Company Limited (BIPC) has announced plans to establish the BIPC Trust Fund to support young entrepreneurs in the state.
Speaking during a virtual town hall meeting on Saturday, titled *”Advancing Economic Development in Benue State: Our Recent Achievements and the Future Outlook,”* BIPC Managing Director Raymond Asemakaha said the initiative is designed to empower young people to start their own businesses and boost Benue’s economy.
“The establishment of the Benue Investment Trust Fund is a significant step towards creating a vibrant entrepreneurial culture. This initiative will enable youths in Benue to transition into the business ecosystem, becoming job creators and contributing to economic growth,” Asemakaha said.
Asemakaha highlighted the challenges faced by Benue’s economy, including the loss of over 907,000 jobs in the SME sector between 2014 and 2023. He noted that under Governor Hyacinth Alia’s administration, the state’s economic growth has shifted from -3.2% to positive within one year.
Despite the progress, Asemakaha acknowledged that output growth remains lower than population growth, emphasizing the need for effective strategies to create an enabling environment for businesses.
BIPC is implementing several policies to support economic development, including:
– Benue State Inclusive Economy Policy
– Benue State Policy on Micro, Small, and Medium Enterprises (MSMEs)
– Benue State Industrial and Trade Policy
“These policies aim to foster an environment where businesses can thrive and create jobs,” Asemakaha added.
The virtual town hall meeting, hosted by Irene Azubuike of Viider Consulting, provided an opportunity for stakeholders to engage with BIPC leadership. Participants expressed optimism about the trust fund’s potential to transform the business landscape in Benue.
The initiative underscores BIPC’s commitment to addressing the state’s economic challenges and empowering its youth to drive sustainable growth.
