...to raise initial N10b bond

By Peter Duru, Makurdi

The Group Managing Director of the Benue Investment and Property Company (BIPC), Dr Raymond Asemakaha, has disclosed plans by the company to establish a cement factory in Benue as part of efforts to deepen industrialisation and economic growth in the state.

Dr Asemakaha said all necessary arrangements have been concluded to raise an initial ₦10billion bond for the project, noting that the proposed cement plant would further drive the industrial revolution of the current administration.

Speaking in Makurdi, the BIPC helmsman said residents were already experiencing the benefits of economic progress and stability in the state, following the establishment of bread and water factories in some parts of Benue.

According to him, the factories had created opportunities for commerce and improved livelihoods among the people.

“People are buying from us and selling to make money, thereby improving their economic wellbeing. The only challenge we have in this part of the country is that our parents did not teach us the act of buying and selling, but we are gradually getting there,” he said.
Dr Asemakaha also stressed the importance of skills acquisition, urging the people, particularly graduates, to embrace vocational and entrepreneurial skills.

“Again, I want to repeat that our people must start learning skills. Learning a skill is very important, no matter the degree you hold. Learn a skill; that is what is driving the world today,” he said.

He explained that with the growing number of graduates from tertiary institutions in the state, BIPC was accelerating the take-off of companies such as fruit juice, beer, water and bread factories, “which are expected to generate no fewer than 4,000 direct jobs upon completion.”

Recounting BIPC’s achievements in 2025, Dr Asemakaha announced that the Benue ZEVA beer brand would soon flood the market. He expressing optimism that 2026 would be a year of economic harvest for the people of Benue.

He said the state had already started recording positive growth rate since the coming of the presents administration and further revealed plans of establishing a presidential hotel in the state to meet international standards and cater to the needs of business travellers.

“International groups, associations and organisations would be having their meetings in the state and require standard hotels, that is the more reason why we need to have the hotel,” he stated.

The GMD added that, ahead of the Yuletide, one trailer-load of ZEVA bottled beer and another of canned beer had been produced for the Christmas season from the factory which he said was at 85 percent completion state with close to 90 percent raw materials sourced locally.

Dr Asemakaha commended Governor Hyacinth Alia for his unwavering support for BIPC, attributing the company’s remarkable achievements within a short period to the governor’s backing and commitment to industrial development.