The Benue State Government has unveiled an ambitious economic transformation strategy anchored on agriculture, industrialisation, infrastructure, energy, investment and human capital development, with economic strategist and Nextier Founding Partner, Patrick O. Okigbo III, among the 15 professionals appointed to the newly inaugurated Benue State Economic and Policy Advisory Council (BSEPAC).

The council, inaugurated by Governor Rev. Fr. Dr. Hyacinth Iormem Alia, is expected to provide independent, strategic and evidence-based advice to the state government as it seeks to reposition Benue’s economy and attract greater private-sector participation.

The initiative is designed to strengthen governance, accelerate sustainable economic growth, attract domestic and foreign investment and expand economic opportunities for the people of the state.

Under the framework establishing BSEPAC, the council will serve as the governor’s premier strategic advisory body on economic and policy matters, providing practical recommendations on economic planning, fiscal sustainability, investment promotion, industrialisation, infrastructure, agriculture, energy, education, healthcare, digital innovation, security and environmental sustainability.

A major component of the strategy is the development of a one-year acceleration plan, a five-year economic transformation strategy and a 30-year Benue Advancement Plan.

The long-term vision is to position Benue as one of Nigeria’s leading investment destinations while leveraging its considerable agricultural resources and emerging opportunities in energy, solid minerals, manufacturing and infrastructure.

Okigbo’s appointment brings to the council an experienced voice in economic strategy, public policy, investment advisory and governance.
With nearly three decades of experience in the sector, Okigbo is also a member of Nigeria’s Presidential Economic Coordination Council. His professional background includes extensive work in economic development, investment and public policy.

His connection to Benue’s economic potential, however, goes beyond his current appointment.

Reflecting on his selection, Okigbo recalled his earlier involvement in the lease and transformation of a fruit concentrate plant in Makurdi, an experience he said changed his perception of the state’s economic possibilities.

According to him, Benue’s opportunity is not limited to its reputation as Nigeria’s food basket but lies in transforming its agricultural resources into a platform for industrial development.
“Earlier in my career, I had the privilege of leading the lease and transformation of a fruit concentrate plant in Makurdi. That experience convinced me that Benue’s greatest opportunity lies not simply in being Nigeria’s food basket, but in becoming one of Africa’s leading centres of agro-industrial production,” he said.

Okigbo said he looked forward to working with Governor Alia and other members of the council to formulate policies capable of moving Benue from agricultural abundance to industrial competitiveness and broad-based prosperity.

The council’s immediate priorities include developing recommendations for Benue’s electricity market under the Electricity Act, improving the investment climate and ease of doing business, promoting agricultural value-chain industrialisation and developing the state’s solid minerals sector.

It will also examine ways of financing infrastructure through Public-Private Partnerships, strengthening fiscal sustainability and improving the state’s internally generated revenue.
Another major area of focus will be employment and human capital development, particularly policies aimed at expanding opportunities for young people through entrepreneurship, skills acquisition and job creation.

The council is expected to bring together expertise from economics, banking, public finance, energy, agriculture, manufacturing, law, technology, academia, development finance and governance.

The multidisciplinary approach is intended to provide the state government with broad-based and research-driven advice while complementing the work of its Ministries, Departments and Agencies.
BSEPAC is also expected to help the government anticipate changes in national and global economic trends and develop practical policy responses that can strengthen the state’s economic resilience.

The council will operate strictly in an advisory capacity and will not exercise executive or regulatory powers. It will meet periodically and conduct its work through specialised committees supported by a technical secretariat.

The state government expects the arrangement to improve policy formulation and coordination, strengthen fiscal management, boost investor confidence, create jobs and increase private-sector participation in Benue’s development.

For a state widely recognised for its agricultural potential, the economic transformation strategy represents an attempt to shift the focus from primary production to value addition, agro-processing and industrial development.

The emphasis on agro-industrialisation also aligns with Okigbo’s assessment that Benue can leverage its agricultural resources to establish a stronger manufacturing and processing base.
By linking agriculture with energy, infrastructure, finance, technology and investment promotion, the state government hopes to create an economic ecosystem capable of generating more jobs, expanding businesses and improving internally generated revenue.

The proposed one-year, five-year and 30-year plans are expected to provide different layers of the transformation agenda, combining immediate interventions with medium- and long-term economic planning.

The administration’s strategy also places emphasis on creating an environment in which private investors can participate more actively in the state’s economic development.

With the inauguration of BSEPAC and the appointment of professionals such as Okigbo, the Alia administration is seeking to strengthen the technical and policy foundation of its development agenda.

The ultimate objective, the government said, is to transform Benue’s economic advantages into sustainable prosperity by moving beyond the production of raw agricultural commodities towards industrialisation, investment, value addition and inclusive economic growth.