Benue State has domesticated the Nigeria Startup Act, establishing a dedicated state-level legal framework designed to boost youth entrepreneurship, attract private equity, and accelerate tech-driven innovation. Championed by Dr. Raymond Asemakaha, Group Managing Director of the Benue Investment and Property Company Limited (BIPC), the legislation aligns with Governor Hyacinth Iormem Alia’s economic agenda to transition young residents from job seekers to wealth creators.
The newly enacted law introduces key fiscal incentives and structural mechanisms for local businesses:
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Tax & Fee Relief: Eligible registered startups will receive pioneer tax relief along with waivers on business premises and signage fees.
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Dedicated Funding & Procurement Priority: Creation of the Benue Startup Fund to back early-stage ventures, coupled with priority placement in state government procurement opportunities.
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Incubation Hubs: Plan for tech hubs and physical incubators, beginning with proposed facilities at the Galleria Centre in Makurdi.
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Single-Window Portal: Launching a unified digital portal to streamline startup registration and regulatory compliance, eliminating red tape.
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Investor Ecosystem: Formal recognition and integration of Angel Investors, Venture Capitalists, Private Equity funds, accelerators, and R&D institutions.
Implementation begins with the rollout of the registration portal and the establishment of initial incubation centers, opening avenues for local entrepreneurs to access grants and venture backing.
