The Benue Investment and Property Company Limited (BIPC) has signed a partnership agreement with Shining Colours International, a Chinese firm, to develop the mining sector in Benue State once the state government lifts the ban on mining activities.
The partnership was signed by the Managing Director/CEO of BIPC, Dr. Raymond Asemakaha-CFA, along with other BIPC management staff at the company’s boardroom in Makurdi.
According to the agreement, BIPC will earn 25% of the post-tax income from Shining Colors’ mining and Agric Business activities. Additionally, the two companies will jointly develop agro commodities hubs to benefit Benue farmers.
“This partnership has the potential to generate significant revenue for the state and contribute to its economic development in line with the vision of His Excellency, Rev Fr. Dr. Hyacinth Iormem Alia, the Executive Governor of Benue State.
“This partnership will generate over a billion Naira Cash Flow within the state and also create jobs for our Teen youths. Our intention is to extend this partnership to other mining companies operating in the state so that the state can benefit percentage from the mining sector,” said Asemakaha.
“So BIPC is committed to working with Shining Colors International to ensure the success of this partnership and create a positive impact on the state when the mining ban is lifted,” Asemakaha concluded.
Fang Mig and Lucy Quin, representatives of Shining Colours International, expressed their enthusiasm for the collaboration and commitment to the terms of the partnership, stating their willingness to work together to achieve mutually beneficial outcomes.
