Benue: BIPC Director decries poor status of state properties, rolls out revenue generations projects

By Titus Atondu, Makurdi

The Managing Director, Benue Investment and Property Company, (BIPC), Limited, Dr. Raymond Asemakaha, has expressed disappointment over the poor state of government owned industries and other properties, saying that the situation is drastically affecting the revenue generation of the State.

Dr. Asemakaha who stated this at a press conference in Makurdi, the state capital, stressed that the company had already entered discussion with Governor Hyacinth Alia-led government to see how the state owned moribund industries and other properties can be transferred to the company to ensure effective  management of such facilities on behalf of the state.

He further said that the company in collaboration with the state government has initiated projects that would stimulate the state economy and improve the GDP from $5.4 to $8million.

“We intend  to consolidate the non-performing assets of the Company in Abuja and Kaduna to make sure that we revamp moribund industries in the state, thereby creating employment and curtailing post-harvest losses.

“Therefore, BIPC is leading reforms that will make Benue state a delight to all investors. The Company  under my watch will be service-driven. As such, we are creating a one-stop-shop where investors can get all the information, process, and amount needed to do business in the state.

“All the assets of the state will be registered and a special desk officer will be created to provide such information. We have  launched  the website, (www.bipc.be.gov.ng) to offer diverse information on how business can be done. BIPC will, as from 1st  of March 2024, go digital in all its operations. We have set up the structure for that transition and on that day all manual processes will be suspended for automated one. All these are being put in place so that we could have smooth ways  of doing business in the state,” Dr. Asemekaha stated.

He disclosed that the state government, through the company, has perfected  plans to set up a palm plantation in the three  senatorial zones of the state.

Asemakaha, who noted that palm oil is being imported into the country, said because of the global economic crisis and the blocking of the Red Sea, it’s becoming increasingly difficult to get the product, adding  that the state will soon launch Benue Palm Oil.

He said, “We have concluded a plan to set up a palm plantation in each zone of the state so that in a few years to come, we will provide raw materials for the plant with surpluses exported.

“As such, I’ve therefore directed our real estate and investment department to commence work on 10 out of the 23 hectares of land the company has in Abinsi, Guma LGA area of the state, for the palm plantation project.”

The MD said the remaining 13 hectares of land at Abinsi would be used for a low-income earners’ Estate in the state.

“This too, I have directed the real estate department to work, so we could have something for our people, even for those who earn as little as N500,000. Our amortisation policy will permit such low-income earners’ to also have homes,” he said.

He further disclosed that his management has enforced a recovery order for a property that was recovered back in 2019 but was not enforced, saying, “we have commenced the process of turning the space of the 33-room property into a Benue Water  to become a player in the water industry.”

He said as part of a short-term approach to expanding the businesses of the Company, the management has also reintroduced the BIPC pastries.

“We’re optimistic that when we have this on board, we will expand the economy of the state and get more employment for the teeming youth of the state,” he said.

Speaking at the Benue Local Investors Forum (BELIF2023) that was recently held, he said there are positive outcomes.

“Our aspirations are that in the last quarter of this year, we shall organize the Beninvest 2024 Summit, where we shall usher in state economic prosperity similar to or more than that obtainable in Kaduna,” he said.

He also explained that with the summit, BIPC’s target will be to make Benue State the number one investment destination in Nigeria, thereby attracting both foreign and local investment.