The Managing Director of Benue Investment and Property Company Limited (BIPC), Dr. Raymond Asemakaha-CFA has said the company is on an industrial revolution drive to reactivate potentially viable dormant businesses in the state.
Asemakaha stated this when he visited Titaniun Steel and Gold Company, a nail production company in Makurdi.
The Managing Director said BIPC targets potentially viable moribund businesses because of their high prospects for job creation, wealth creation, tax revenues, and overall economic impacts.
He also said reviving these industries will be faster than build new factories adding that the industries when operational could help improve the gross domestic product of the state through economic stimulation.
The economic reactivation will be the value chain which will create thousands of direct and indirect jobs, Dr. Asemakaha added.
“This is our deliberate attempt aimed at reactivating these businesses to enable our teeming youths to get jobs. This attempt is also to ensure we will retain our cash flow within the system and curtail capital flight” he noted.
“We are focused on sustainability. We are incorporating eco-friendly practices and social responsibility to appeal to modern consumers” the BIPC MD further explained.
He also said the idea is to help diversify Benue’s economy. “Just as industries evolved during the Industrial Revolution, dormant businesses can pivot to new markets, products, or services” Dr. Asemakaha stated.
Titanium Steel and Gold Company representatives, Oliver Ugor and Esther Akor appreciated the company for indicating interest in their business.
They explained the process flow and huge profit margin that the company stands to benefit of BIPC invests in the company.
The company’s product is tipped to serve the entire Middle Belt region when fires back to life.
