The Raw Materials Research and Development Council (RMRDC) and the National Association of Small Scale Industrialists (NASSI) have pledged to strengthen their collaboration to accelerate industrial growth in Benue State. This commitment was the cornerstone of a one-day dialogue held recently at the Trust Resort Hotel in Makurdi.
The event, themed “Unlocking Industrial Potentials: Pathways to Sustainable Growth and Development,” brought together key government agencies and entrepreneurs to address challenges and chart a course for economic progress.
Leading the RMRDC delegation, Benue State Coordinator Mrs. I.J. Abel-Ugbir described the engagement as timely, emphasizing the Council’s focus on promoting homegrown industries through the optimal use of local raw materials. She highlighted the recent passage of the RMRDC Act Amendment Bill 2025 by the Senate as a game-changer for Nigeria’s industrial landscape.
“No raw material can be exported without undergoing at least 30 percent value addition locally, this is a strategic move to safeguard jobs, protect local industries, and reduce dependence on imports,” Abel-Ugbir said. While urging small-scale businesses to take promote the initiative because of its advantage transform the raw material Eco system.
In her welcome address, NASSI State Chairman Mrs. Gladys Shaahu lamented that despite Benue’s vast resources, its industrial capacity remains significantly underutilized. She outlined major hurdles for Micro, Small, and Medium Enterprises (MSMEs), including the lack of a conducive business environment, stringent criteria for accessing interventions, multiple taxation, and inconsistent government policies. “Benue has huge industrial potentials, but they are yet to be fully harnessed,” Shaahu stated, calling for stronger government support to empower local entrepreneurs.
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Addressing these concerns, government stakeholders detailed ongoing initiatives to improve the business climate. Mr. Michael Ogwuche, the Director of Investment at the Benue Investment Promotion Agency (BENIPA), confirmed that the agency is actively working with the Benue Internal Revenue Service (BIRS) to consolidate taxes. He noted that new bills are before the State House of Assembly to streamline the process and that BENIPA is proposing incentives like tax holidays for new businesses. “Our efforts at attracting new foreign investment to the state have started yielding results with the formation of industrial parks in each zone of the state,” Ogwuche added.
On the federal level, Mrs. Roselyn Akyer of the Federal Inland Revenue Service (FIRS) presented new tax reforms aimed at easing the burden on SMEs. Key highlights of the new tax structure include:
● Zero Tax: Businesses with an annual turnover below N50 million are exempt from company income tax.
● Profit Tax: Businesses with a turnover of N50 million and above are subject to a 30% tax on profits.
● Development Levy: The levy is waived for businesses with a turnover below N50 million, while a 4% levy applies to those above the N50 million threshold.
Mrs. Akyer advised entrepreneurs to formalize their businesses by registering with the Corporate Affairs Commission (CAC) and FIRS and to diligently file their annual tax returns. She also offered a critical piece of financial advice: “Do not deposit personal money into corporate accounts.”
The dialogue concluded with a renewed commitment from all parties to work collaboratively to transform Benue State into a thriving hub of industrial activity.
