BIPC to expand bread, water factories to six Benue LGAs

By Scholastica Hir, Makurdi

The Benue Investment and Property Company Limited (BIPC) has announced plans to extend its bread and water factory annexes 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.

The Group Managing Director/CEO of BIPC, Dr. Raymond Asemakaha, stated this during the Radio Benue programme “On the Line” in Makurdi, the state capital, on Saturday.

Asemakaha highlighted that BIPC has successfully created 472 direct jobs and 1,250 indirect jobs through its new subsidiaries. He said that 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, “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 percent complete, is finished, production will continue using the contract brewing model.

According to him, “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 privatisation.”

Regarding nail production, Dr. Asemakaha stated that BIPC is the sole nail manufacturer in the north-central region. He emphasised 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.