Sunday, June 22, 2025
  • Share your story
  • About
  • Contact
Economy FootPrint
  • Home
  • News & Politics
  • Opinion
  • Finance & Economy
  • Aviation
  • Editorial
  • Transport & Blue Economy
  • Features | Analysis
  • Health | Environment
Economy FootPrint
Home Finance | Insurance | Pension

BIPC Seeks Recapitalisation To Enhance Profitability, New Investments

EconomyFoot Print by EconomyFoot Print
December 2, 2024
in Finance | Insurance | Pension, News
Reading Time: 2 mins read
0
We Built Polythene Production Plant Exclusively from N300m Bread Revenue – BIPC MD
Share on FacebookShare on Twitter

The Benue State Investment and Property Company (BIPC) is seeking recapitalization to address its financial challenges, grow its investments, and enhance profitability as a state-owned enterprise.

The Managing Director/CEO of BIPC in a memo to the Benue State Commissioner Ministry of Industry, Trade & Investment dated 19th November 2024 said the proposed recapitalization can help BIPC address key challenges particularly its liabilities currently put at over N3,226 billion, and restore its financial stability.

Related posts

MINISTRY OF ART, CULTURE, AND CREATIVE ECONOMY PRESENTS BUDGET PERFORMANCE REPORT TO NATIONAL ASSEMBLY

June 20, 2025
SanlamAllianz flags off 12-City Roadshow to Deepen Customer Engagement and Awareness

SanlamAllianz flags off 12-City Roadshow to Deepen Customer Engagement and Awareness

June 20, 2025

 

He also said the company faces numerous challenges, including outdated infrastructure and operational inefficiencies with non-performing assets of 89%.

He noted that the remaining 11% Asset has been on a long-term lease of 10-35 years and BIPC is to receive rental payment as of 2027.

Dr. Asemakaha in the memo also stated that “a forensic audit analysis of BIPC’s financial statements, records, and operations from 2015 to 2023 revealed significant losses totaling N10,229,702,342.”

According to the BIPC MD, to ensure the success of BIPC’s recapitalization, it is essential to conduct a thorough assessment of the company’s financial position, operational efficiency, and market prospects, and develop a comprehensive restructuring plan including measures to improve operational efficiency, reduce costs, and enhance revenue generation.

He said recapitalization will help secure funding from credible sources, such as the state government, private investors, or development finance institutions.

With capital injection, the MD further stated that BIPC will have the capacity to Implement robust governance and oversight mechanisms to ensure transparency, accountability, and effective management of the recapitalized entity.

Previous Post

Again Troops Deactivate Illegal Bunkering, Recover 1.5M Ltrs Of Stolen Crude Products

Next Post

Benue Deputy Governor, Sam Odeh Visits BIPC, Applauds Asemakaha’s Achievements

Next Post

Benue Deputy Governor, Sam Odeh Visits BIPC, Applauds Asemakaha’s Achievements

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED NEWS

CBN Unveils Strategy To Tackle Naira Commoditisation

5 months ago

Terror Herdsmen attack Tiv Community, Kill over 17

2 years ago
Cardoso Rolls Up Sleeves, Begins CBN Cleansing

Naira Design Post Extension Window: CBN says old notes won’t be legal tender

2 years ago

Prof. Saulo Assumes as Secretary-General World Meteorological Organization

1 year ago

FOLLOW US

  • 86.2k Followers

BROWSE BY CATEGORIES

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

BROWSE BY TOPICS

2023 Benue Budget Abuja-Kaduna Rail Access Corporation Access pension airports concession Aviation Ayu Benue Budget Benue Community Buhari Business CBN Central Bank Dana Air Economy FGPL Herdsmen Herdsmen attacks insecurity insurance Maritime Min of Transport MSMEs NAICOM NCAA Nigeria Nigeria -Cameroon Border Post Nigeria Air NRac Onne Port ooh Orrom Ortom PDP PenCom pension Railway Sambo Jaji Transcorp Transcorp Group Transcorp Hotels Plc UBA Ukohol Wike Wildon Ideva

BROWSE BY CATEGORIES

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

Economy Footprint

The EconomyFootprint is published by Ideas Tent Communications Ltd®. All Rights Reserved.

Follow us on social media:

Recent News

  • MINISTRY OF ART, CULTURE, AND CREATIVE ECONOMY PRESENTS BUDGET PERFORMANCE REPORT TO NATIONAL ASSEMBLY
  • SanlamAllianz flags off 12-City Roadshow to Deepen Customer Engagement and Awareness
  • BNY Mellon, Standard Bank to Facilitate Access to Nigerian Naira Debt — Bloomberg

Category

  • Aviation
  • Brands
  • Crime
  • Editorial
  • Features | Analysis
  • Finance | Insurance | Pension
  • Health | Environment
  • Industry | Trade | Commerce
  • International
  • Interview | Profile
  • News
  • Opinion
  • Politics
  • Small Business
  • Sports
  • Top News
  • Transport & Blue Economy
  • Uncategorized

Recent News

MINISTRY OF ART, CULTURE, AND CREATIVE ECONOMY PRESENTS BUDGET PERFORMANCE REPORT TO NATIONAL ASSEMBLY

June 20, 2025
SanlamAllianz flags off 12-City Roadshow to Deepen Customer Engagement and Awareness

SanlamAllianz flags off 12-City Roadshow to Deepen Customer Engagement and Awareness

June 20, 2025
No Result
View All Result
  • Home
  • Politics
  • News
  • Sports
  • Opinion