Benue State has signed a ₦25 billion agribusiness investment agreement with Benue-AgriPro Limited to expand commercial agriculture, create jobs, strengthen soybean production, and improve value addition across the state's agricultural sector.
July 15, 2026
Benue State has taken another step towards strengthening its position as Nigeria's leading agricultural state after signing a ₦25 billion investment agreement aimed at expanding commercial farming, creating employment opportunities, and boosting agro-industrial development.
The Business-to-Business Memorandum of Agreement (MoA), signed between the Benue State Agricultural Development Company Limited (BSADC) and Benue-AgriPro Limited, is expected to drive investments across the state's agricultural value chain, with a strong focus on soybean production, irrigation farming, agricultural processing, research, vocational training and farmer empowerment.
The agreement forms part of Governor Rev. Fr. Hyacinth Iormem Alia's broader strategy to attract private investment into agriculture while transforming Benue's vast agricultural resources into sustainable economic growth.
Speaking during the signing ceremony at the Government House in Makurdi on Wednesday, Governor Alia, represented by Deputy Governor Barr. Dr. Sam Ode, reiterated his administration's commitment to building an investment-friendly environment anchored on transparency, accountability and public-private partnerships.
He described agriculture as the backbone of Benue's economy and said the new partnership would complement ongoing efforts to revive strategic agro-industrial assets, including the rehabilitation of Taraku Mills, while encouraging value addition rather than the export of raw farm produce.
According to the governor, the agreement is designed to expand commercial soybean farming, promote irrigation-based agriculture, support integrated farming systems and strengthen research, vocational skills development and out-grower programmes capable of benefiting thousands of local farmers.
Managing Director of BSADC, Mr. Donald Aorkwagh Akule, disclosed that implementation of the project would commence in Mbatiev, Buruku Local Government Area, through a Special Purpose Vehicle (SPV) established under the state's Public-Private Indigenous Partnership framework.
He explained that the SPV would serve as the operational platform for delivering the investment, coordinating commercial production activities and ensuring efficient management of the project.
The initiative is expected to attract additional private-sector participation while opening opportunities for local communities through employment, contract farming and agricultural services.
Managing Director of Benue-AgriPro Limited, Ahmed Saalim Abubakar, described the agreement as a significant milestone for agricultural development in Benue State.
He pledged that the company would execute the project with professionalism, integrity and transparency, expressing confidence that the partnership would deliver lasting economic value for both investors and farming communities.
Abubakar noted that collaboration between government and private investors remains essential for unlocking the full potential of Nigeria's agricultural sector.
Commissioner for Agriculture and Food Security, Dr. Benjamin Ashaver, assured investors of the state government's full institutional support throughout the implementation of the project.
He disclosed that the proposed project site is government-owned land under the supervision of the Ministry of Agriculture and Food Security, providing a ready platform for rapid project execution.
According to the commissioner, the investment is expected to reduce post-harvest losses, strengthen agricultural processing, increase value addition and improve the competitiveness of Benue's agricultural products in both domestic and export markets.
He added that strengthening the agricultural value chain would also contribute to food security while improving incomes for farmers across the state.
Agriculture remains the largest employer of labour in Benue State, with the state widely recognised as Nigeria's "Food Basket."
However, experts have long argued that limited processing capacity, inadequate storage infrastructure and insufficient private investment have prevented the state from fully maximising its agricultural potential.
The ₦25 billion partnership seeks to address some of these challenges by encouraging commercial-scale production, modern farming practices and agro-processing while integrating smallholder farmers through out-grower schemes.
If successfully implemented, the initiative could stimulate rural economic growth, generate new employment opportunities and strengthen Benue's ambition to become a major agribusiness and food-processing hub.
Prime Brief Analysis
The agreement reflects a broader shift from traditional government-led farming initiatives towards private-sector-driven agricultural development.
Beyond increasing crop production, its success will largely depend on timely implementation, sustained investor confidence and the effective inclusion of smallholder farmers in the project's value chain.
For Benue, where agriculture is central to livelihoods and economic development, converting primary production into value-added products could significantly increase farmer incomes, attract further investment and enhance the state's contribution to Nigeria's food security objectives.
As implementation begins, attention will focus on:
The commencement of operations in Mbatiev, Buruku LGA.
Establishment of irrigation and commercial soybean production facilities.
Employment opportunities for local communities.
Participation of smallholder farmers through out-grower programmes.
Progress on the revitalisation of Taraku Mills and other agro-processing initiatives.
More on Benue