By Sunday Ogli, Makurdi
The Group Managing Director of Benue Investment and Property Company Limited (BIPC), Dr. Raymond Asemakaha, has disclosed that the company is sponsoring a bill aimed at establishing a startup law to support Small and Medium Enterprises (SMEs) in Benue State.
Dr. Asemakaha revealed this during a stakeholders’ engagement meeting on the reactivation of the SMEs Council in Benue State, held at the Bureau of Entrepreneurship and Wealth Creation in Makurdi.
He said several challenges confronting SMEs in the state, including knowledge gaps, the absence of supportive policies, inadequate access to funding, and limited mentorship opportunities, have continued to hinder the growth of young entrepreneurs. He stressed that the proposed startup law is designed to address these challenges and create a more enabling environment for businesses to thrive.
The BIPC boss explained that when passed into law, Benue would join states such as Abia, Anambra, and Imo in implementing a comprehensive startup framework that provides entrepreneurs with access to knowledge, skills development, finance, and other incentives needed to grow their businesses.
Dr. Asemakaha also reiterated his call for a practical education system focused on skills acquisition rather than certificates, noting that thousands of graduates leave tertiary institutions every year without realistic employment prospects.
He warned that the state is “sitting on a time bomb” due to what he described as a weak foundation for SME development, stressing the need for urgent reforms to stimulate entrepreneurship and economic growth.
The BIPC GMD pledged the company’s collaboration with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to drive aggressive SME development initiatives across the state.
Speaking at the event, a representative of SMEDAN, Dr. Damorekun Moses, said the agency was reactivating the SMEs Council in Benue as part of efforts to stimulate economic activities and strengthen support for small businesses.
Representatives of the Industrial Training Fund (ITF), NSABUA, the Nigerian Export Promotion Council (NEPC), the Bank of Industry (BOI), the Ministry of Industry, Trade and Investment, and other stakeholders commended the reactivation of the council and pledged their support for the initiative.
The stakeholders expressed optimism that a revitalized SMEs Council and the proposed startup law would create new opportunities for entrepreneurs, enhance business growth, and contribute to the economic development of Benue State.
