Benue Investment and Property Company Limited (BIPC) is set to commission two subsidiaries, BIPC Bakery and a Water Factory, on Monday, May 27, 2024.
In addition, the company will be having a ground-breaking ceremony next week for the proposed beer factory worth over N850 billion.
These new investments will create hundreds of new jobs for Benue young people and new business opportunities.
Managing Director and Chief Executive Officer of the company, Dr. Raymond Asemakaha, made this announcement while leading a tour of the company’s short-term businesses in Makurdi.
Fielding questions after conducting journalists round the facilities, the Managing Director elaborated that construction is underway on various projects aimed at diversifying BIPC’s Investments.
He explained that the ongoing construction work demonstrates BIPC’s commitment to driving economic growth and development in Benue State.
The MD reinstated his commitment to driving the economy, saying that he looked forward to seeing the positive impact of the new ventures on the teeming youth of the state.
He said, “Here, we have our bakery and water factories, and I’m glad to let you know that we’re going to launch these projects on Monday, July 27, 2024, as part of activities to mark His Excellency Governor Hyacinth Iormem Alia’s one year in office.
“We will be having bread and water here, and by next week we shall be announcing recruitment to fill vacancies that would be created here. So, we will hire our teeming youths” he emphasized.
Dr. Asemakaha also said the company was going into beer production to enable the state to also reap from the over N850 million other beer firms rake from sales in the state monthly.
“When we came in, we discovered that beer consumption in the state is within the range of N850 million and N870 million per month. In December alone, the sale hit N1 billion. So, we want to see how we can retain a large percentage of the cash flow within the system because the people in this business are taking our money out of Benue since no beer-producing factory is in the state” he further stated.
In separate reactions, the Department Head, of Business Development and Strategy, Theresa Abeda, and that of Real Estate and Infrastructure, Arch. Jerry Iosun, assured that all projects being embarked upon by the company were commercially viable and would improve the portfolio of the company.
