The Benue State Government has signed a Memorandum of Understanding (MoU) with Hudson Global Consulting to implement seven strategic investment strategies developed at the Benue 2035 Economic Transformation, Capital Formation and Prosperity Summit, with a target of attracting $5 billion in investment to the state.
The three-day summit, organised by the Benue Investment and Property Company Limited (BIPC) in partnership with Hudson Global Consulting, was aimed at developing practical strategies to transform Benue’s economic potential into measurable prosperity.
At the closing ceremony, Governor Hyacinth Alia commended the lead facilitator, participants, BIPC Group Managing Director, Dr Raymond Asemakaha, and the management and staff of the company for their commitment and sacrifices towards developing an economic strategy for the state.
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Governor Alia assured that his administration had the political will to implement the outcome of the summit, declaring: “We have the will to ensure that the strategy works and it must work.”
The governor also announced plans to establish a Benue Economic Council to strengthen coordination of the state’s economic transformation agenda.
He said the summit formed part of efforts to develop a 30-year development plan, an initiative he committed to during the 50th anniversary of the state.
Presenting the summit framework, BIPC Group Managing Director, Dr Raymond Asemakaha, said the Benue 2035 initiative was designed not as another conference or report, but as a transformation process focused on measurable results.
He identified the seven strategies as vision and system, foundation, value creation, cost and capital, ownership and governance, organisational renewal, and tools and innovation.
Asemakaha called for focused strategic choices rather than a long list of projects, stressing the need for clear ownership, effective governance, sustainable financing and measurable performance indicators.
The Team Lead of Hudson Global Consulting, Prince Tom Isehohi, said the summit was structured to achieve broad stakeholder alignment by bringing together government supporters, critics and independent stakeholders.
He identified agro-allied processing, logistics, technology and governance as major investment opportunities, noting that reducing post-harvest losses would increase farmers’ incomes and strengthen food supply chains.
The State Deputy Governor, Dr Sam Ode, highlighted government interventions in digital infrastructure and security, including the establishment of the Benue Infrastructure and Digital Commission (BIDC).
He said the government had provided free right-of-way for fibre-optic deployment across the state, while technology-driven platforms were being developed to improve security and governance.
The signing of the MoU marks the commencement of the implementation phase, with the execution framework providing for a public-private partnership (PPP) vehicle, detailed transformation plans, capital mobilisation, implementation, continuous monitoring and periodic adjustment.
