By Peter Duru Makurdi

KPMG, a global firm providing audit, tax, advisory and investment services is to undertake a comprehensive restructuring  of the Benue Investment and Property Company, BIPC, to help drive economic growth and development in Benue state.

Welcoming the KPMG team at the BIPC corporate headquarters in Makurdi, the Group Managing Director of the company, Dr. Raymond Asemakaha assured of the full cooperation of the company with the team.

Dr. Asemakaha explained that the exercise  was expected to strengthen BIPC’s operations after the expiration of the 2025 vision of the company to align with the policy thrust of Governor Hyacinth Alia’s administration in the state.

He said: “Our goal is for BIPC as a state owned company to adopt the model of Temasek in Singapore, that of Igbile Holdings in Lagos and Oduduwa in Ogun state. By so doing, the BIPC will be poised to diversify its portfolio to deliver long-term sustainable reforms and make a difference in our operations.

“This 10-year strategic plan will provide a roadmap for the state-owned investment company to drive economic growth and development in Benue state by investing in a diversified portfolio of assets, fostering strategic partnerships, and ensuring high standards of governance. And the company will be able to generate strong financial returns while contributing to the economic development of the state.

“The exercise will also incorporate strategies for sustainability in managing our investments, climate risk management, financials and audits credit profile, and others with KPMG’s guidance.”

The Leader of the KPMG delegation, Funsho Ayotunde said the mandate of KPMG included reviewing BIPC’s organizational structure, job descriptions, and diagnosing the company’s financial setting Key Performance Indicators, KPIs, for staff of the company.

He added that the firm would also “conduct job evaluations and gradings to ensure that staff roles are aligned with the company’s objectives.”

Reponding, the Department Head, Business Development and Strategy, Theresa Abeda, appealed for the inclusion of staff remuneration and promotions in the restructuring exercise, emphasizing its importance in motivating employees.

Also, the Department Head, Administration and Human Resources Management, Joshua Nyipira, assured the team of staff cooperation to ensure a successful outcome of the exercise.