FG Strengthening Investment Components in Nigeria- Minister

From Attah Ede, Makurdi 

The Minister for Industry, Trade and Investment Mrs. Jumoke Oduwole has said that the Federal Government is strengthening investment components, framework as well as support new regulations for Small and Medium Enterprises, SMEs to grow.

Mrs Oduwole who stated this on Wednesday in Makurdi during the Benue Local Inventors and Entrepreneurs Exhibition 2025 held at the IBB Square, noted that entrepreneurship remains the backbone of any nation.

She intimated that Small and Medium Enterprises account for 40 percent of the nation’s GDP, adding that it is also responsible for 90 percent workforce through job creation.

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Said she, “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

Speaking Governor Hyacinth Alia said his administration met a litter of moribund industries and recognizing the urgent need for their revival, government through the Ministry of Industry,Trade and Investment has been working tirelessly to breathe life back into these moribund industries and establish new ones, maintaining that the ultimate goal is not merely revamping existing structures but also laying the foundation for sustainable industrial growth that will stand the test of time.

 He said government 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, noting that these efforts are aimed at harnessing local resources,creating jobs and reducing dependence on external markets for goods that the State can produce itself.

Hear him, “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 5000 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.

“Additionally, we partnered with the Federal Government to establish the Benue Fashion Hub,a dedicated centre for training and empowering our youths in tailoring, fashion design and other entrepreneurial ventures. This hub is equipping our young people with the skills they need to be self-reliant, competitive and valuable contributors to our industrial mission.

“This exhibition is not just an event; it is a powerful statement about the potential and creativity of our people. It is an opportunity to showcase the talents and innovations of Benue people. This exhibition brings their products to public glare, providing encouragement to the producers and exposes them to sponsors,investors and the larger markets.

” Our administration remains committed to supporting local innovation and industrialization through:

The Provision of access to funding and incentives for small and medium-scale enterprises to expand their operations and improve product quality.

“The establishment and strengthening of technical and vocational training centres to equip young entrepreneurs with skills that meet industrial demands.

“By creating an enabling  business environment and ensuring adequate infrastructure, including electricity, roads and security to support industrial activities.

“The facilitation of partnerships with private investors and international development organizations to bring in expertise,technology and funding that will accelerate industrial growth.

“As we showcase our various innovations today,I call on the Federal Government, corporate bodies and public-spirited individuals to lend their support and encouragement to our innovators. Investing in local enterprises is not only an investment in economic prosperity but also a commitment to empowering communities, reducing unemployment and fostering self-reliance”.