By Amos Aar
AT THE inaugural Benue International Investment and Economic Summit (BIIES) 2025, stakeholders from Nigeria’s economic and agricultural sectors called on the Central Bank of Nigeria (CBN) to urgently address inflation and stabilize the naira to foster a more conducive business environment.
The three-day summit, themed “Harnessing Investment for Sustainable Growth in Benue State,” commenced on Thursday in Makurdi, featuring paper presentations, keynote addresses, and panel discussions aimed at positioning Benue as a viable investment hub.
The CBN’s Deputy Governor for Economic Policy, Muhammad Sani Abdullahi, represented by Dr. Patrick Ogiji, reaffirmed the Bank’s commitment to supporting Benue’s economy through measures such as exchange rate stabilization and curbing food inflation.
He delivered a paper titled “Monetary Policy and Investment Growth: Positioning Benue State’s Economic Future as an Agro-driven Subnational Entity.”
However, panelists expressed concerns over the CBN’s management of the naira’s exchange rate. Former Ado Local Government Chairman, Hon. Agbo Aboh, criticized the apex bank’s inability to effectively regulate the naira-dollar exchange.
In response, Dr. Ogiji acknowledged the withdrawal of currency subsidies, noting that Nigeria had previously maintained subsidies on both fuel and the naira.
Another panelist, Mr. Dan Ashiekaa, advocated for a controlled exchange float, citing Qatar’s model as a viable approach to safeguarding the naira’s value.
Former Chairman of the Independent National Electoral Commission (INEC), Prof. Attahiru Jega, represented by Prof. Yahaya Kuta, highlighted Benue’s livestock potential in his presentation, “The Reform Initiative: Gains for Benue State as a Subnational Entity.”
He lamented that persistent farmer-herder conflicts had hindered economic growth and advocated for ranching as a sustainable solution. “Benue has the potential to become a leading pork producer and exporter,” he stated, urging the government to move beyond rhetoric and institutionalize the Presidential Livestock Reform Initiative (PLRIC) through legislation.
In a keynote address, “Space Technologies as Catalysts for Inclusive Growth,” Dr. Matthew Olumide Adepoju, Director General of the National Space Research and Development Agency (NASRDA), represented by Dr. Idris Jega, outlined how space-based technologies could bolster Benue’s economic development.
He emphasized precision agriculture, climate resilience, land administration, rural connectivity, and security as key areas for intervention. Dr. Jega also highlighted the partnership between Benue Digital Infrastructure Company (BDIC) and NASRDA to provide data-driven solutions for infrastructure planning.
Governor Hyacinth Alia, represented by Deputy Governor Barr. Sam Ode, reiterated the state’s commitment to reducing bureaucratic hurdles and fostering private-sector collaboration. “The government is working in harmony with investors to build an efficient and business-friendly climate,” he assured.
Hon. Alex Adingi, Special Adviser to the Governor on International Investment, described the summit as a pivotal step toward transforming Benue into an attractive investment destination. Commissioner for Industry, Trade, and Investment, Mr. Manasseh Alumo Orpin, pledged zero tolerance for corruption, urging investors to report any illicit demands.
The Minister of Solid Minerals Development, Mr. Henry Dele Alake, represented by Permanent Secretary Dr. Esther Udo, emphasized Benue’s untapped mineral and agricultural resources, pledging federal support for their development.
In a goodwill message, Mr. Harryanaah Khairul, Minister Counsellor at the Indonesian Embassy, announced a partnership with Benue in cassava production, with a delegation set to visit Indonesia in July for further discussions.
The summit has renewed optimism among participants regarding Benue’s economic prospects, driven by agriculture, innovation, and strategic investment partnerships.
