Benue Assembly applauds BIPC’s industrial push, seeks more funding for economic expansion

By Benedicta Aboh

The Benue State House of Assembly has commended the Benue Investment and Property Company (BIPC) for driving the industrialization agenda of Governor Hyacinth Alia, following an inspection tour of the company’s major projects.

The lawmakers, led by Majority Leader, Hon. Thomas Dugeri, visited key BIPC facilities including Benfruits, Benval, the BIPC Eco-City Estate, and the Food Basket Brewery, where they expressed satisfaction with the scale of ongoing developments.

Hon. Dugeri praised the Group Managing Director of BIPC, Dr. Raymond Asemakaha, alongside the management and staff, for what he described as a significant transformation of the state’s economic landscape.

“We are impressed with what we have seen. BIPC is clearly aligning with the governor’s vision for industrial growth, and this deserves strong support,” Dugeri said.

“Government must prioritise funding to enable the company to deliver more effectively on its strategic mandate,” he added.

He also assured that the Assembly would continue to collaborate with BIPC through legislation and policy support, particularly in efforts to recover key state assets such as Benue Hotel and Sheraton Hotel, as well as revive the JS Tarka Foundation.

Chairman of the House Committee on Finance, Hon. Mathew Damkor, also commended the management for sustaining impactful initiatives, noting the quality of work at the Eco-City Estate.

“The level of development at the Eco-City Estate is commendable. We encourage the management to sustain this momentum, and we will continue to provide the necessary legislative backing,” Damkor stated.

In his remarks, BIPC Group Managing Director, Dr. Raymond Asemakaha, outlined the company’s progress and ongoing challenges, while calling for greater legislative support to consolidate its gains.

He revealed that BIPC has embarked on multiple ventures aimed at stimulating economic activity, including bread production, water packaging, nail manufacturing, a printing press, and electric taxi services.

“With the support of the state government, we have established key projects such as the brewery, Benva Juice factory, and revived Benfruits. These projects are nearing completion and are expected to be commissioned next month,” Asemakaha said.

He emphasized the importance of value addition in agriculture, noting that industrial processing remains key to unlocking Benue’s full economic potential.

“His Excellency recognises that agriculture alone, without value addition, cannot fully unlock the state’s economic potential. By establishing industries that process local raw materials, we are creating a value chain ecosystem that benefits farmers, entrepreneurs, and the wider population,” he explained.

According to him, the three factories set for commissioning are expected to generate over 1,500 direct jobs, alongside additional opportunities in secondary markets once operations commence.

Asemakaha also urged the Assembly to fast-track the establishment of a Benue Commodity Exchange, which he said would help regulate the agro-market, stabilise prices, and ensure farmers receive fair value for their produce.

On the issue of underperforming state assets, he disclosed that BIPC would soon issue a 90-day ultimatum to lessees of facilities such as Benue Hotel.

“Any lessee who fails to fully utilise these assets risks revocation. These properties were not properly leased with due approvals, and many of the operators lack the capacity to manage them effectively,” he said. “These assets have the potential to employ over 400 youths and should not remain underutilised.”

He added that the company is working on a sustainable framework and succession plan to ensure long-term stability and growth.

Earlier, the Head of Business Development and Strategy at BIPC, Mrs. Theresa Abeda, appreciated the Assembly for the visit and reaffirmed the company’s commitment to collaboration.

“We value this partnership and remain committed to working closely with the Assembly to drive the overall development of Benue State,” she said.