From Joseph Uchenna, in Makurdi
The Group Managing Director, Benue Investment and Property Company, BIPC Dr Raymond Asemakaha has revealed that the State Gross Domestic Product, GDP has grown by 12.8 trillio Naira.
Dr Asemakaha who made this revelation on Saturday
at the grand finale of a state-wide skills acquisition programme held at the Aper Aku Stadium, Makurdi, where over 5,580 youths graduated from various vocational training sessions organized by His Excellency, Rev. Fr. Dr. Hyacinth Iormem Alia, the Executive Governor of Benue State also intimated that the company in conjunction with the state government is poised to establish a Business Fund to support Small and Medium Enterprises (SMEs), particularly for youths venturing into entrepreneurship.
He said on assumption of office, the State was on the negative growth of 3.5 percent but has leapt to 12.8 trillion.
The GMD disclosed plans to domesticate the Start-up law in the State, announcing that a bill will be sent to the house next week.
He said, “the major problem we identified as a challenge to growth of business is the lack of seed capital. As population grows, it is time to bring ideas to mitigate and grow the economy” .
Describing the graduating youths, drawn for the 23 local government areas of the State who were trained in painting, cosmetology, Ankara design, organic fertilizer production, makeup artistry, shoemaking, catering and other skill areas as a “significant emerging market,” Dr. Asemakaha stressed that empowering them to transform their skills into thriving businesses would stimulate economic growth.
He announced a ₦1 million seed grant to each of the seven graduating groups, totalling ₦7 million, to help kick-start their entrepreneurial journeys.
Asemakaha further urged the state government to enact business-friendly laws that would grant young entrepreneurs access to larger markets and strengthen SME development across Benue.
According to him, Benue must prioritize human capital investment by shifting from purely theoretical education to practical business training, especially as the state’s population continues to rise. He noted that such an approach is critical to boosting the state’s GDP and positioning Benue as a hub for innovative small enterprises.
Dr. Asemakaha maintained that as the newly trained youths establish their businesses, they will not only create opportunities for themselves but also become employers of labour thereby reducing insecurity by addressing the root causes linked to idleness.
He commended Governor Alia for championing youth empowerment initiatives and called for sustained investment in vocational and entrepreneurial programmes to drive Benue’s economic transformation.
The beneficiaries of skill acquisition showcased their expertise during the event which was organized by the office of Principal Special Assistant to the Governor on Protocol and wardrobe Hon Emmanuel Iorbee, PSA and supported by Hon Terver Gbenda Senior Special Assistant on Youth Organizations and Illegal Levies.
Over 14,942 youths and women benefited from the program with 6000 from Makurdi alone.
