The Benue Investment and Property Company Limited (BIPC) is set to extend its bread and water annex to six local government areas (LGAs) in the state during the first quarter of the year.
In addition, the company plans to construct a diaspora city and low-income housing estates within the state.
Dr. Raymond Asemakaha-CFA, the Group Managing Director/CEO of BIPC, made these announcements while appearing on the Radio Benue program “On the Line” in Makurdi, the state capital.
Dr. Asemakaha highlighted that BIPC has successfully created 472 direct jobs and 1,250 indirect jobs through its new subsidiaries. In alignment with directives from Governor Rev. Fr. Dr. Hyacinth Iormem Alia, BIPC is actively procuring agricultural commodities statewide to ensure fair compensation for farmers.
The Group Managing Director also discussed BIPC’s premium lager beer, ZEVA, which was crafted using a contract brewing model to gauge consumer reception. He noted, “Currently, we are employing the contract brewing model. The overwhelming demand was evident when our initial truckload sold out within two days.”
BIPC has fully paid for machinery for its food basket brewery, scheduled to arrive in March. Until the factory—currently 75-80% complete—is finished, production will continue using the contract brewing model. Upon completion, the brewery will be publicly listed, with 10% ownership allocated to the state government, 20% to BIPC, and the remaining 70% shares available for public ownership to prevent privatization.
Regarding nail production, Dr. Asemakaha stated that BIPC is the sole nail manufacturer in the north-central region. He emphasized that customers can purchase products directly from the company’s headquarters in Makurdi without needing to know the factory’s location.
Expressing optimism for the economic outlook of 2025, Dr. Asemakaha cited a remarkable shift from a -3.5 economic standing to a positive rating, as acknowledged by Fitch Ratings.
