Benue: Stakeholders Identify SME’s As Tool For Economic Growth

By Alu Azege

Stakeholders at the just concluded Benue Local Investment Forum have called for the need to prioritize Small and Medium-Scale Enterprises for the economic development of Nigeria

The stakeholders who made this known in a communique said the sector plays a crucial role in job creation, innovation, promotion, and overall growth of the country.

They therefore stressed that to improve the nation’s economy,adequate attention is needed to explore opportunities and harness the valuables in the sector for rapid development.Stakeholders at the just concluded Benue Local Investment Forum have called for the need to prioritize Small and Medium-Scale Enterprises for the economic development of Nigeria 

One of the stakeholders at the occasion Mr Oryiman Alu, an expert from the Policy,
Planning, Research, Monitoring, and Evaluation Department of the Small & Medium Enterprises Development Agency of Nigeria (SMEDAN) gave an insight to practical on the need to leverage on
technology and improving access to finance to scale up SMEs so as to contribute to the growth of Benue state’s economy, which will in turn add to Gross Domestic Growth of the country

Also One of the discussants and a Diaspora Partnership Manager at Ashoka, Iveren Ityokyaa, who emphasized the importance of diaspora engagement in food production and processing highlighted the need for technical expertise and guidance to help local farmers produce food to international standards and gain access to markets, and funding to boost the state revenue through agriculture.

Earlier, the Governor of Benue State, Rev. Fr. Hyacinth Alia, represented by Deputy Governor Sam Odeh, reaffirmed the administration’s commitment to positioning
Benue is the investment hub of Nigeria.

The Governor also expressed willingness to provide tax breaks and other incentives necessary to attract investments.

In a welcome address. the Managing Director of BIPC, Dr Raymond Asemakaha, explained that the forum was aimed at bringing together stakeholders to discuss policies that would enhance the ease of doing business in the state.

He highlighted the economic challenges facing Benue, such as negative GDP growth rates and imported inflation, which hindered its economic progress.

Dr. Asemakaha called for a paradigm shift, urging the adoption of innovative solutions and out-of-the-box thinking to address these challenges and promote sustainable development to position Benue as the number one state in the World Bank ranking for ease of doing business in Nigeria.