Benue Signs ₦25bn Agribusiness Pact, Promises Support For Investors

Benue State Commissioner for Agriculture and Food Security, Dr. Benjamin Ashaver, has assured investors of the Benue State Government’s institutional support, following signing of a ₦25 billion Business-to-Business Memorandum of agreement.

The agreement is between the Benue State Agricultural Development Company Limited (BSADC), and Benue-AgriPro Limited.

Speaking during the signing of the agreement at Government House, Makurdi, on Wednesday, Dr. Ashaver, stated that the project site is government-owned land under the Ministry of Agriculture and Food Security, assuring the investors of a conducive environment for the successful implementation of the project.

He noted that the investment would significantly reduce post-harvest losses, promote value addition, strengthen Benue’s agricultural value chain, and create sustainable economic opportunities for farmers and agribusiness across the State.

The agreement, valued at ₦25 billion, is expected to drive investments in commercial Soybean production, irrigation farming, integrated agriculture, research, vocational training and out-grower Programmes, to further advance Governor Hyacinth Iormem Alia’s vision of transforming Benue into Nigeria’s foremost agribusiness hub.

The Deputy Governor, Sam Ode, who represented the Governor reaffirmed the administration’s commitment to transparency, accountability and investor-friendly policies, adding that, the partnership would complement the ongoing revitalisation of Taraku Mills, and deepen value addition in the agricultural sector.

Earlier, Managing Director Benue State Agricultural Development Company Limited (BSADC), Donald Akule, said that the project would commence in Mbatiev, Buruku Local Government Area, through a Special Purpose Vehicle established under the state’s public-private indigenous partnership framework.

On his part, Managing Director of Benue-AgriPro Limited, Ahmed Saalim Abubakar, described the partnership as a landmark initiative for Agriculture in Benue State, while pledging the company’s commitment to delivering the project with integrity, professionalism and transparency.