The Group Managing Director of Benue Investment and Property Company Limited (BIPC), Dr. Raymond Asemakaha, CFA, has revealed that the company is sponsoring a bill to establish a startup law aimed at supporting Small and Medium Enterprises (SMEs) in Benue State.
Dr. Asemakaha made the disclosure 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 highlighted several challenges facing SMEs in the state, including knowledge gaps, absence of supportive policies, inadequate access to funding, and limited mentorship opportunities, which continue to hinder the growth of young entrepreneurs. The proposed startup law, he said, is designed to address these issues and create a more enabling environment for businesses to thrive.
According to Dr. Asemakaha, once 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 essential incentives.
He further called for a practical education system focused on skills acquisition rather than certificates, warning that the state is “sitting on a time bomb” due to the weak foundation for SME development and the large number of graduates leaving tertiary institutions without realistic employment prospects.
The BIPC boss pledged collaboration with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) and other stakeholders, including the Industrial Training Fund (ITF), NSABUA, NEPC, Bank of Industry (BOI), and the Ministry of Industry, Trade and Investment, to drive aggressive SME development initiatives across the state.
Stakeholders at the meeting expressed optimism that a revitalized SMEs Council and the proposed startup law would create new opportunities for entrepreneurs, enhance business growth, and contribute significantly to the economic development of Benue State.
