Entrepreneurship The Backbone Of Any Economy – Oduwole, Minister for Industry, Trade and Investment
TERKURA AKAA SAKERA
MAKURDI
The Governor of Benue State, Rev Fr Hyacinth Alia has cried out that his administration took possession of industries and factories in the state that were once thriving, but have gone moribund.
Meanwhile, the Minister for Industry, Trade and Investment, Jumoke Oduwole, has noted that the Federal Government (FG) was supporting new regulations that would strengthen and grow SMEs in the country.
She stated that SMEs account for 40 percent of the nation’s GDP, and was also responsible for 90 percent of the nation’s workforce through job creation, insisting that entrepreneurship remains the backbone of any nation.
Oduwole noted that, “government is willing to create the enabling environment for SMEs to strive. We will continue to create and support export businesses.
“This exhibition is a call to action and support for ingenuity, I commend the ingenuity of these inventors. Let us continue to grow our economy and enhance development”, she appealed.
Governor Alia who cried out while speaking at the Benue Inventors and Entrepreneurs Exhibition 2025 held in Makurdi, said his government plans to revive ailing industries in the state.
While he stated that government was reworking towards reviving the said industries, he pointed out that government was also working on establishing new industries in the state, a move that was aimed at making Benue a major economic hub in the country.
The Governor was particularly piqued that most of the businesses and factories that have gone comatose were before now thriving but were grounded due to years of neglect, infrastructural decay, as well as inconsistent policies.
Speaking at the event, the Governor observed that “This event is a great milestone in our journey towards economic rejuvenation, self-sufficiency and industrial growth. It is a day to celebrate the ingenuity, resilience and industriousness of our people.
“As you may all be aware, industrialization is the third agenda in our administration’s blueprint. From the onset, we committed ourselves to repositioning Benue state as an economic powerhouse, leveraging our vast resources and the unwavering determination of our citizens.
“However, we inherited a landscape littered with moribund industries. A once-thriving factories and businesses succumbed to many years of neglect, policy inconsistencies and infrastructural decay.”
Therefore, he explained that “Recognizing the urgent need for revival, our administration through the Ministry of Industry,Trade and Investment has been working tirelessly to breathe life back into these moribund industries and establish new ones. Our ultimate goal is not merely revamping existing structures but also laying the foundation for sustainable industrial growth that will stand the test of time.
“Since the journey of a thousand miles begins with a step, our administration has empowered the Benue Investment and Property Company (BIPC), which has taken the lead in setting up mini-industries that are currently producing essential items needed by our people.
“These efforts are aimed at harnessing local resources, creating jobs and reducing dependence on external markets for goods that we can produce ourselves.
“Furthermore, in collaboration with the World Bank, our administration introduced the Nigeria COVID-19 Action Recovery and Economic Stimulus (NG-CARES) initiative, which has provided direct support to over 5,000 Small and Medium Enterprises (SMEs) across the state. This intervention has helped businesses recover from economic setbacks, improve productivity and contribute meaningfully to our state’s economy”, he stated.
