In a significant move to bolster economic growth and investment in Benue State, His Excellency, Rev. Fr. Hyacinth Alia, the Executive Governor of Benue State, led a high-powered delegation on a courtesy visit to engage with the United States Agency for International Development (USAID) on Thursday.
The discussions were centered around collaboration for funding priority projects under the Power Africa-Nigeria Power Sector Program (PA-NPSP) and the 2024 Return on Investment (ROI) scheme.
Governor Alia outlined the state's commitment to achieving significant milestones through a strategic collaboration that aligns with his seven-point agenda.
The priority projects discussed during the meeting include the development of the electricity market, establishment of the Benue Agro Commodity/Central Parking System Hub, and the creation of a Lab Calibration facility.
These projects aim to drive microeconomic growth, enhance the state's investment climate, and create a conducive environment for private sector investment.
The PA-NPSP team lead, Mr. Malik, pledged to include Benue State in the second phase of the project, highlighting the potential for increased collaboration and development.
This partnership aims to develop a robust policy and regulatory framework to support the state's economic objectives.
Key objectives of the cooperation between USAID and the Benue State Government include:
- Developing a comprehensive policy and regulatory framework to support the state's development strategy.
- Creating an Integrated Resource Plan (IRP) to streamline the state's resource management.
- Forming a technical working group comprised of experts with the necessary knowledge, experience, and skills in IRP development and Statements of Work (SOWs).
- Appointing a transaction advisory team, potentially including tier-one auditors like Deloitte Consulting LLP, to provide expert guidance on project execution and management.
The Benue State Government has reaffirmed its commitment to these objectives, recognizing their importance in expanding access to economic opportunities, stimulating industrial activities, creating over one million jobs, and enhancing the overall infrastructure and social amenities within the state.
This initiative represents a pivotal step towards fostering an enabling environment for sustainable development and increased private sector participation in Benue.
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