Fighting poverty through industries: The Benue example

BY PETER AMINE

Unemployment is one of the major challenges facing many developing nations, including Nigeria.

Successive governments in Nigeria both at national and subnational levels have made concerted efforts to address the challenge.

While many have partially succeeded, others have failed due to changes in government leading to policy reversals.

The high unemployment rate can be attributed to many factors including large number of graduates churned out by the nation’s tertiary institutions and employment inequalities among other socio-economic challenges.

According to the National Bureau of Statistics says the unemployment rate in Nigeria increased to 5.3 per cent in first quarter of 2024 from 5.0 per cent recorded in the third quarter of 2023.

This is massive in terms of numbers. Given Nigeria’s estimated 200 million people this figure is higher than the population of many countries.

“I graduated five years ago, and I am still without a job. I have submitted job applications to many organisations but they keep saying that there is no vacancy.

“I have been doing menial jobs to survive, yet I find it difficult to pay my bills,’’ narrated Mr Terpase Iorbee, an Economics graduate.

Like Iorbee, Miss Ene Amali, another graduate who studied Food Science and Technology, is jobless. She graduated three years ago.

Amali said that she has been fighting the overtures of men who want to take advantage of her for peanut.

Unemployment is a recipe for social disaster.

Worried by this the Benue State Government, under Gov. Hyacinth Alia, is establishing companies to provide employment and improve the living standards of the people of the state.

The companies, set up by Benue Investment and Property Company (BIPC), are expected to have a far-reaching impact on the Benue economy in diverse ways.

The one-and-a-half-year-old administration inaugurated four companies on Dec. 5, 2024, while a fifth came on board on Dec. 22, 2024.

Those inaugurated included BIPC Polythene and Nylon Factory, BIPC Nails Company, BIP Bread Factory, BIPC Water Factory, and the Food Basket Brewery Limited.

Alia said the factories were a significant step towards economic rejuvenation, industrialisation, and sustainable development in the state.

The governor expressed the state’s readiness to harness its resources, build and revive dormant industries, and foster local economic growth.

According to him, it was an economic strategy to boost state Internally Generated Revenue (IGR), reduce dependence on federal allocations, create jobs for the youth, address unemployment, and foster economic stability.

“These projects represent more than mere industrial expansion; they symbolise hope, progress, and the determination of this administration to uplift the lives of the good people of Benue.

“These factories signal our resolve to reduce reliance on imports, foster local production, and con- serve valuable resources.

“The BIPC Polythene and Nylon Factory will play a key role in meeting the growing demand for packaging materials, a sector that has traditionally relied heavily on imports’’, he said.

According to him, producing locally, industrialisation will not only receive a boost but also it will be laying the groundwork for economic self-sufficiency.

“Similarly, BIPC Nails Ltd will be instrumental in supporting the state’s construction and infrastructure sectors, providing essential materials that will be critical in the ongoing development efforts in the state.

“The venture will not only create jobs but also contribute significantly to the growth of local industries.

“The BIPC Bread and Water factories are yet another bold step in addressing the dietary and nutritional needs of our people.

“It will contribute to our state’s food security while creating jobs for many youths,” he said.

Alia also said that collectively the projects would boost the state’s IGR and position Benue as a hub for industrial growth in Nigeria.

The governor added that his administration remains steadfast in creating an environment where businesses could thrive.

The Commissioner for Commerce, Trade, and Investment, Mr Alumo Orpin, said Alia was determined to improve the economic ecosystem of the state.

Orpin assured that all the factories were well executed and met global standards.

The commissioner also said the ministry would continue to provide policy guidelines for industries and other businesses to thrive.

According to him, the current administration was putting structures in place so that even after its exit, the company and its assets would continue to blossom.

Dr Raymond Asemakaha, BIPC Managing Director, said the efforts represent a significant stride in the collective pursuit of economic empowerment, industrial growth, and sustainable development for the people of Benue State.

Asemakaha lauded Alia for his visionary leadership and commitment to creating an enabling environment for businesses to thrive in the state.

The said the governor’s support for such initiatives was a testament to his dedication to building a robust economy and creating opportunities for the people.