FIC Report (Benue State) – The Benue Investment and Property Company (BIPC) has significantly increased the Internally Generated Revenue (IGR) of Benue State by creating job opportunities and revamping economic activities across various sectors. This was disclosed by the Group Managing Director (GMD) of BIPC, Dr. Raymond Asemakaha, CFA, during a press briefing at the Nigeria Union of Journalists (NUJ) Secretariat in Makurdi on Tuesday, 15th July, 2025.
Dr. Asemakaha, who assumed office in December 2023, noted that upon his assumption, the company was grappling with a backlog of five months of unpaid salaries and generally low economic activity. Leveraging his vast experience in the financial sector, he introduced strategic reforms that have revived the company and contributed immensely to the state’s revenue generation.
He revealed that the company recovered properties and funds amounting to approximately ₦133 million. Under his leadership, BIPC has expanded its operations to include the production of nails, bottled water, fertilizer, polythene bags, motorcycle hire-purchase, electric car hire services, and a Zeva Premium Lager Beer factory which is currently at 84% completion.
The GMD also stated that BIPC currently employs over 580 direct staff and has created more than 3,000 indirect job opportunities. Additionally, a juice production factory is scheduled to commence operations in October 2025, with over 400 job opportunities expected to be created for Benue citizens.
In further efforts to diversify, BIPC’s oil and gas plant will be operational by the end of July 2025. The company is also training individuals in IDP camps in bread production, water packaging, and printing. Bread factories are under construction in Gboko and Otukpo, while medium-housing projects are ongoing to address accommodation challenges in the state.
Dr. Asemakaha commended the Executive Governor of Benue State, Rev. Fr. Dr. Hyacinth Iormem Alia, for the opportunity to contribute to the state’s economic transformation. He also stated that funds generated are being channeled into Novus Microfinance Bank to provide business loans to entrepreneurs.
He emphasized the use of the Train-the-Trainee model as a sustainable development strategy but expressed concerns over the shortage of skilled manpower, particularly in nail production. He encouraged Benue youths to acquire vocational skills for long-term economic benefits.
In his reaction, the Chairman of the NUJ, Comrade Bemdoo Ugber, lauded the efforts of the BIPC management in job creation and assured them of the media’s continued support.
Delivering the vote of thanks, the Head of the News Agency of Nigeria (NAN) in Benue, Mr. Amine, appreciated Dr. Asemakaha for sharing his insights, noting that journalists can learn entrepreneurial skills to fall back on after retirement.
Signed
VERONICA AZEMBA
For Head of Center,
Federal Information center
Makurdi
