The Benue Investment and Property Company Limited (BIPC) has announced plans to establish the BIPC Trust Fund, designed to provide financial support and resources for young entrepreneurs in the state.
Mr. Raymond Asemakaha, Managing Director of BIPC, revealed this initiative during a virtual town hall meeting on Saturday, themed “Advancing Economic Development in Benue State: Our Recent Achievements and the Future Outlook.”
Asemakaha explained that the fund’s purpose is to help young entrepreneurs launch and grow their businesses, fostering a vibrant entrepreneurial culture in Benue.
This move is seen as a key step in boosting the state’s economy and empowering its youth to become job creators.
“Our goal is to redirect Benue youths into the business ecosystem, and the Benue Investment Trust Fund will play a significant role in achieving this,” Asemakaha said.
“This initiative will have a lasting positive impact on the state’s economy.”
He also highlighted the broader economic strategies being implemented by the state government under the leadership of Governor Hyacinth Alia.
Despite Benue’s multi-sectoral challenges, Asemakaha noted that the administration has made strides in reversing economic downturns, particularly in the Small and Medium Enterprises (SMEs) sector, which lost nearly 907,676 jobs between 2014 and 2023.
“The state’s output growth, although currently low in comparison to population growth, is being addressed through effective strategies and policies,” Asemakaha said.
These include the Benue State Inclusive Economy Policy, the Benue State Policy on Micro, Small, and Medium Enterprises, and the Benue State Industrial and Trade Policy.
The virtual town hall, which was hosted by Irene Azubuike of Viider Consulting, allowed participants to engage with BIPC leadership, sharing ideas and expressing optimism about the potential of the new initiative to transform Benue’s business landscape.
