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.
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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 peanuts.
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 conserve 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.
“The companies are designed to stimulate economic growth, create employment opportunities, and enhance the overall quality of life for the people.
“These ventures are projected to generate 300 direct jobs and 400 indirect jobs, thereby contributing significantly to the reduction of unemployment in the state.
“We at BIPC are committed to providing innovative and high-quality products that meet the needs of our people while positioning Benue as a hub for the industrial revolution in Nigeria.
“These projects demonstrate the potential for collaboration between the government, private sector, and community to achieve shared goals.
“Furthermore, I am delighted to announce that BIPC Premium Lager Beer, the first product of the Food Basket Brewery, a subsidiary of BIPC, will be unveiled on the 22nd of December, 2024.
“This new product is a celebration of the resilience, creativity, and entrepreneurial spirit of the Benue people. It symbolises our commitment to delivering excellence while promoting the “Food Basket of the Nation” brand.
Asemakaha further said that to support agricultural production, BIPC inaugurated the processing of Emperor Fertiliser, offered at an affordable price to benefit farmers.
“Additionally, we signed agreements with a Chinese firm to create a mining and agricultural commodity hub in Benue, ensuring local farmers benefit through joint coordination.
“We are also collaborating with Compressed Natural Gas vehicle providers to introduce 600 powered tricycles and motorcycles to reduce reliance on petrol-powered vehicles.
“Through these initiatives, we have created approximately 1,500 direct and indirect jobs across various sectors and significantly contributed to Benue State’s Gross Domestic Product (GDP) growth,” he said.
While the efforts of Benue government are commendable, observers say that tackling unemployment should go beyond establishing industries.
They advocate building more infrastructure in the rural areas and investing more in agriculture as some of the steps that can boost the job creation and poverty alleviation efforts.
News Agency of Nigeria
