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By Ijeoma Obioma
The Federal Government, in collaboration with the Benue State Government, has empowered over 27,000 entrepreneurs with financial support and trained more than 75,000 individuals in digital and entrepreneurial skills to accelerate the growth of Micro, Small and Medium Enterprises (MSMEs) in the state.
The initiative was highlighted during a town hall meeting and media activation held in Makurdi, where the Managing Director/CEO of the Bank of Industry (BoI), Dr. Olasupo Olusi, disclosed that N1.35 billion has been disbursed to MSMEs in Benue under the N200 billion Presidential Intervention Fund.
Dr. Olusi, represented by BoI North Central Regional Manager, Ozovehe Nasiru Ismaila, described the intervention as part of a broader national effort to close financing gaps in Nigeria’s MSME sector, which constitutes 96% of businesses and 84% of jobs in the country. He noted that more than 900,000 beneficiaries nationwide have already accessed N107 billion from the fund.
The intervention includes three key streams: a N50 billion grant for nano businesses, a N75 billion MSME loan scheme, and a N75 billion fund for the manufacturing sector. Seventy percent of the grant component is earmarked for women and youth, with a focus on critical sectors such as trade, food services, ICT, and artisanship.
At the state level, Director General of the Benue Bureau for Entrepreneurship and Wealth Creation, Benita Shuluwa, said over 75,000 individuals across the 23 local government areas have been trained in soft skills, IT, and business development. She highlighted partnerships with organizations like Jobberman to establish job centers and address unemployment.
“Our goal is to build a self-reliant population equipped with skills and support to create sustainable livelihoods,” Shuluwa said, adding that efforts are ongoing to provide tools and additional funding for trained individuals.
Also speaking, Commissioner for Trade and Investment, Manasseh Orpin, reiterated the state government’s commitment to creating a business-friendly environment. He said Governor Hyacinth Alia’s administration is working to simplify business registration and provide more grants, with the aim of transforming Benue into a vibrant commercial hub driven by MSMEs.
Edited by Dada Ahmed.
