Benue State Government, TaiCorp Group Synergie To End Agro-Terrorism

The Benue State Government and TaiCorp Capital Partners have resolved to tackle the food insecurity currently threatening lives and property in the state.

At a “Strategic Physical Meeting” organised by the management of the Benue Investment and Property Company (BIPC) in Makurdi, Governor Hyacinth Alia described insecurity in the agricultural sector as “agro-terrorism.”

The governor, represented by his deputy, Barr. Sam Ode, assured the TaiCorp Group of the government’s commitment to the partnership, stating that it would not only address food insecurity but also accelerate the state’s growth and development.

At the meeting, which was attended by high-ranking government officials and the group’s top management team led by Dr. Tom Ise, Alia expressed appreciation for the choice of Benue as a partner

However, he lamented that “our farmers cannot go to their farms due to insecurity. This is why I have coined the word ‘agro-terrorism’ to highlight our frustration.”

He explained that the state government’s decision to accept the partnership proposal was premised on the administration’s resolve to appoint competent and qualified indigenes into key agencies to drive the industrial revolution aimed at adding value to the state’s economy.

Alia restated his administration’s commitment to transforming the agricultural sector, noting that “the union between my government and your group can only be possible with the needed political will.” According to him, his government possesses the political will required to ensure the success of the deal.

To actualise the vision, the governor said, “we must geo-fence our arable lands to protect farms and achieve the commercial target of large-scale agricultural production.”

Describing the deal as a “turning point” for his administration, Alia urged the Benue State University of Agriculture, Science and Technology to prepare for the establishment of a Department of Artificial Intelligence to support the partnership without undermining smallholder farmers in the state’s food production value chain.

He, however, expressed concern over the number of agreements signed by previous administrations with development partners with little to show for them. Lamenting the proliferation of memoranda of understanding signed in the past without tangible results, the governor said this had made his government cautious.

He also expressed worry over the current state of the Teragro industry established by Transnational Corporation of Nigeria (TransCorp) in the state and queried why the business failed.

Despite his reservations, Alia expressed confidence in the investment capacity of the new group led by Dr. Ise, whose credentials, he said, were verifiable.

The governor noted that Dr. Ise leads one of the country’s ambitious investment groups, citing the TransCorp Group, owners of TransCorp Hilton Abuja and Geregu Power Plc, among other successful investments, as evidence of credibility.

He blamed the collapse of some industries, including the Wannune Tomato Factory, on inadequate supply of raw materials, warning that such challenges could undermine fresh initiatives.

On this note, Alia appealed to relevant stakeholders to prioritise the production and supply of raw materials to feed local industries such as Zeva and the fruit juice beverage factory in Makurdi.

“The entire value chain we are discussing must start from the out-growers scheme for the success and sustainability of our ambitious Benue Rice Project,” he said, adding that while the state has the potential to achieve its goals, “we are not yet there.”

In his remarks, the team leader, Dr. Ise, said although Benue is known as the “Food Basket of the Nation,” the state has yet to fully leverage its potential. He stated that TaiCorp Global Partners came to enhance economic welfare and capture the full agricultural value chain.

He commended the administration’s efforts, saying, “we are happy to see the government taking steps to ensure that the value chain in the agro-allied sector is fully captured.”

“The potential is tremendous. On behalf of my team, we are willing, ready and able to partner with the government. Going forward, the entire value chain in the sector will be captured,” he added.

According to him, the group would bring capital and ensure that the project faces no financial obstacles. “What we have designed for the state will not be affected on account of capital. The structure guaranteeing access to capital has been designed, and we are here to work out the details with the government,” he said.

Summarising the proposal, Dr. Ise said the partnership would allow the government to contribute its strengths, while TaiCorp would provide project development and technical expertise to generate significant revenue.

He projected that the initiative would create jobs, scale up incomes and increase per capita income over the eight-year tenure of the administration.

Providing further assurances, Ise stated that the project was structured to enable seamless government participation without demanding guarantees, adding that the state could earn up to two billion dollars in the first year of the deal.

He disclosed that his organisation operates a joint venture with the Federal Government of Nigeria in the food and beverage sector, and that Benue was identified as the first destination for investment and the promotion of the out-growers programme to strengthen the rice value chain.

According to him, the state’s economy could grow to earn two billion dollars annually and eventually scale up to twenty billion dollars, creating significant impact on residents.

He added that the state’s current Internally Generated Revenue (IGR) of about $25 million annually could rise to between $250 million and $500 million by the end of the eight-year economic programme.

Similarly, he noted that the current per capita income of about $300, which indicates that many residents live below the poverty line, could increase to between $2,000 and $5,000, positioning the state among middle-income earners in Nigeria.

Dr. Ise cautioned, however, that the success of the partnership would depend on the flexibility of government policies, referencing the challenges faced by the Teragro industry established in 2008.

He urged the state to seize the opportunity to create jobs for youths, warning that failure to do so could push them toward crime, thereby worsening insecurity and frustrating efforts to end “agro-terrorism.”

In his remarks, the Managing Director of BIPC, Dr. Raymond Asemakaha, applauded the partnership, stating that it was conceived out of a desire to fast-track development. He said BIPC invited the world-class TaiCorp Global Capital Partners to help realise the state’s food sufficiency goals and tackle agro-terrorism.