The Benue Investment and Property Company Limited (BIPC) has unveiled plans to launch the BIPC Trust Fund, an initiative aimed at empowering young entrepreneurs in Benue State.
During a virtual town hall meeting on Saturday, themed “Advancing Economic Development in Benue State: Our Recent Achievements and the Future Outlook,” BIPC Managing Director Raymond Asemakaha outlined the goals of the Trust Fund. According to him, the initiative is designed to support young people in establishing their own businesses and to stimulate economic growth in the state.
“The creation of the Benue Investment Trust Fund represents a major milestone in fostering an entrepreneurial culture. This program will enable Benue’s youth to integrate into the business ecosystem as job creators, driving economic development,” Asemakaha stated.
He addressed the economic challenges facing the state, including the loss of over 907,000 jobs in the SME sector between 2014 and 2023. Asemakaha noted, however, that under Governor Hyacinth Alia’s administration, Benue’s economy has transitioned from a negative growth rate of -3.2% to a positive trajectory within a year.
While acknowledging this progress, Asemakaha pointed out that the state’s economic output growth still lags behind population growth. He stressed the importance of implementing effective measures to create a conducive environment for business growth.
BIPC is currently executing several policies aimed at driving economic development, including:
– The Benue State Inclusive Economy Policy
– The Benue State Policy on Micro, Small, and Medium Enterprises (MSMEs)
– The Benue State Industrial and Trade Policy
“These policies are designed to create an ecosystem where businesses can flourish and generate employment opportunities,” Asemakaha added.
The virtual town hall meeting, moderated by Irene Azubuike of Viider Consulting, provided a platform for stakeholders to interact with BIPC’s leadership. Participants expressed optimism about the potential impact of the Trust Fund in transforming the business environment in Benue.
This initiative reflects BIPC’s dedication to tackling the state’s economic challenges and equipping its youth to lead sustainable development and growth.