Benue to boost state’s GDP to $8m – BIPC Managing Director

…Promises to set up palm plantation

The Managing Director, Benue Investment and Property Company (BIPC) Limited, Raymond Asemakaha has disclosed that the state Governor, Hyacinth Alia, has formulated projects that would stimulate the state economy and improve the GDP from 5.4 to 8 million dollars.

Asemakaha disclosed this in Makurdi while briefing newsmen on activities of the company since he assumed office.

He said that to achieve that, the state government, through the company, has concluded plans to set up a palm plantation in each of the three zones of the state.

Asemakaha, who noted that palm oil is being imported into the country, said that because of the global economic crisis and the blocking of the Red Sea, it is becoming increasingly difficult to get the product.

He assured that the state will soon launch Benue Palm Oil.

“As a matter of urgency, we plan to set up a palm plantation in each zone of the state to start a palm plantation. 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,” he said.

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 amortization policy will permit such low-income earners’ to also have homes,” he further said.

According to him, 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 Factory’ to become a player in the water industry.

He said as part of a short-term approach to expanding the businesses of the Company, 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.

The MD said that the BIPC under his 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.

On a separate development, Asemakaha has taken proactive steps in ordering the renovation of the company’s guest house in Kaduna.

This decision comes following a comprehensive two-day inspection visit to the company’s assets in Kaduna State.

During the inspection visit, Asemakaha specifically directed the remodeling of 15 rooms within the guest house; the construction of an event centre and VIP bar, and a complete rebranding of the hotel to better cater to the needs of its customers.

“This comprehensive approach is aimed at enhancing the overall experience for guests and ensuring that the facilities meet modern standards and requirements,” the MD explained.

Furthermore, the Managing Director also reviewed the status of the Benue plaza that is currently revoked by Kaduna State Government and requested detailed report covering the period from 2021 to date, asking the lawyers to send letter of vacation from the Benue plaza in Kaduna

He said, “This demonstrates a thorough and meticulous approach to understanding the performance and status of the company’s assets, with the aim of making informed decisions for their improvement.”