Benue Investment Firm Partners with State to Launch Business Fund for Youth Entrepreneurs

The Benue Investment and Property Company Limited (BIPC) has announced a strategic collaboration with the state government to establish a new Business Fund dedicated to supporting Small and Medium Enterprises (SMEs), with a specific focus on young entrepreneurs. This commitment was made by BIPC’s Group Managing Director, Dr. Raymond Asemakaha, CFA, during the closing ceremony of a large-scale, state-wide skills acquisition program held in Makurdi, from which over 5,580 youths graduated. These graduates, representing all 23 Local Government Areas, showcased practical skills acquired in fields such as cosmetology, shoemaking, catering, and organic fertilizer production. Dr. Asemakaha hailed the young entrepreneurs as a “significant emerging market,” stressing that empowering them to convert their vocational skills into successful businesses is crucial for driving economic growth and tackling unemployment-related insecurity. To immediately kick-start their ventures, he announced a ₦1 million seed grant for each of the seven graduating groups, totaling ₦7 million. The Group Managing Director also called on the state government to actively enact business-friendly policies that would enable these entrepreneurs to access broader markets and enhance SME development. The BIPC believes that prioritizing investments in human capital through practical business training over traditional education is vital for boosting Benue’s GDP and establishing the state as a regional hub for innovative small businesses. In total, 14,942 youths and women benefited from the state’s comprehensive skills acquisition program.