Benue Assembly Praises State Investment Company for Driving Economic Growth
The leadership of the Benue State House of Assembly has expressed strong commendation for the Benue Investment and Property Company Limited (BIPC), highlighting its pivotal role in advancing the state's industrialization agenda. This recognition followed a comprehensive tour of key BIPC facilities, where lawmakers witnessed firsthand the company's transformative projects and initiatives.
Legislative Delegation Tours Key BIPC Projects
A delegation from the Benue Assembly, led by Majority Leader Thomas Dugeri, visited several BIPC sites, including Benfruits, Benval, the BIPC Eco-City Estate, and the Food Basket Brewery. During the tour, Dugeri lauded Group Managing Director Dr. Raymond Asemakaha, along with the management and staff, for their significant contributions to reshaping the state's economic landscape. He emphasized the need for increased government funding to enhance the company's effectiveness in aligning with the governor's strategic economic direction.
Dugeri also pledged ongoing legislative collaboration to support BIPC's various initiatives. These efforts include recovering assets such as the Benue Hotel and Sheraton hotel, reviving the JS Tarka Foundation, and enacting enabling laws to facilitate further economic development.
Committee Chairman Applauds Management Initiatives
Mathew Damkor, Chairman of the Benue Assembly Committee on Finance, commended the current management of BIPC for their proactive initiatives and urged them to maintain the momentum. He specifically praised the quality of work at the Eco-City Estate and assured continued legislative backing to ensure the success of these projects.
BIPC Managing Director Details Progress and Challenges
In his remarks, Dr. Raymond Asemakaha presented a detailed report on BIPC's progress and the challenges it faces. He appealed to the Assembly for necessary support, disclosing that the company has launched several ventures to stimulate economic activities. These include bread production, water packaging, nail manufacturing, a printing press, and electric taxi services.
Asemakaha further explained that, with state government support, BIPC has constructed a brewery and the Benva Juice factory, while also reviving Benfruits. These projects are scheduled for commissioning next month. He noted, "His Excellency's administration recognizes that agriculture alone, without value addition, cannot fully unlock the state's economic potential. By establishing industries that process local raw materials, the government is creating a value chain ecosystem and backwards integration that would benefit farmers, entrepreneurs, and the wider population."
According to him, the three factories set for commissioning have the capacity to employ over 1,500 people directly, with thousands of indirect job opportunities expected once the fruit juice factories become operational.
Appeal for Legislation and Asset Recovery
Asemakaha also appealed to the Assembly to expedite legislation establishing a Benue Commodity Exchange. He stated that this exchange would regulate the agro-market, stabilize prices, and ensure farmers receive fair value for their produce.
Regarding the Benue Hotel, Asemakaha revealed that BIPC plans to issue a 90-day ultimatum to the lessee of the hotel and other underperforming government assets. He stressed that these assets, which have the potential to employ over 400 youths, should not remain underutilized. He noted that the leases were fraudulently executed without proper board resolution and executive council approval, and the lessee lacks the capacity to manage such assets effectively.
Commitment to Sustainable Development
The Group Managing Director informed the Assembly that efforts are underway to develop a sustainable framework and a clear successor plan for the organization. Earlier, Theresa Abeda, Head of Business Development and Strategy at BIPC, thanked the Assembly for their visit and reaffirmed the company's commitment to continued collaboration for the overall development of Benue State.
