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From Scholastica Hir, Makurdi
Benue Investment and Property Company Limited (BIPC) said it is set to extend its bread and water factory 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 estatee within the state.
The Group Managing Director/Chief Executive of BIPC, Dr Raymond Asemakaha, stated this during the Radio Benue programme “On the Line” in Makurdi, the state capital, yesterday.
Asemakaha highlighted that BIPC has successfully created 472 direct jobs and 1,250 indirect jobs through its new subsidiaries. He said in alignment with directives from the state Governor, Rev. Fr. Hyacinth 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 that the overwhelming demand was evident when the 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 is finished, which is 75-80 percent complete, production will continue to be done using the contract-brewing model.
He spoke further: “Upon completion, the brewery will be publicly listed, with 10 percent ownership allocated to the state government, 20 percent to BIPC, and the remaining 70 percent 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.
