By Henry Ibya, Makurdi
The Benue Investment and Property Company Limited, BIPC, has disclosed that arrangements are put in place to extend its bread and water factories to six local government areas of 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 during the period under review
Group Managing Director/Chief Executive Officer of the company, Raymond Asemakaha, who made the disclosure in a statement at the weekend in Makurdi, also revealed that BIPC has successfully created 472 direct jobs and 1,250 indirect jobs through its new subsidiaries.
He also disclosed that in line with Governor Hyacinth Alia’s directive, the company has carried out active procurement of agricultural commodities to be distributed statewide to assist farmers increase production to enhance improved standard of living.
Asemakaha also revealed that BIPC’s premium lager beer, ZEVA, which was crafted using a contract brewing model to gauge consumer reception during the festive period explained that after it was discovered its demand was overwhelming as evident in the initial boost the truckloads were exhausted within few days, the company decided to pay fully installation of machinery at the food basket brewery.
He further disclosed that the equipment scheduled to arrive in March with work at the factory currently 75-80 percent completion, added that the company will continue using the contract brewing model when the factory is completed.
According to the M/D/ CEO BIPC, upon completion, the brewery would be publicly listed, with 10 percent ownership allocated to the state government, 20 percent to BIPC, and the remaining 70% shares available for public ownership to prevent privatization.
On production of nails, Asemakaha stated that upon completion of the factory which is expected to be the only nail producing company in the north-central region, customers would be allowed to purchase products directly from the company’s headquarters in Makurdi without necessarily coming to Makurdi where the factory is location.
The M/D BIPC expressed optimism that the economic outlook of year 2025 would be better off, as there seems to be a remarkable shift from a -3.5 economic standing to a positive rating, as acknowledged by Fitch Ratings, promising to continue to deliver quality products to Nigerians.