Benue Investment Company declares N17.8b net worth

From Uche Nnorom, Makurdi

Benue State Investment Property Company, BIPC, has declared a net worth of over 17.8 billion naira.
Managing Director of the Company Dr. Raymond Asemakaha disclosed this on Tuesday during a press conference held in Makurdi.
He said the company has a Share Capital of 8.3 billion naira while performing and non performing assets stood at 9.5nillion naira and staff strength of 168, maintaining that it is not in bad State but very healthy.
Dr. Raymond said the target of the company is to make Benue State the number one investment destination in Nigeria, thereby attracting both foreign and local investments.
He however, regretted over the exit of companies such as Olam and Breweries because of the cumbersome ways of doing business in the state, noting it has caused huge unemployment amongst the youths. He assured that the trajectory will be changed.
The MD also, decried over the high level of moribund industries in the State, disclosing that by first quarter of the year,”we will roll out the agenda to revamp moribund industries. We are liaising with Bureau for Public Enterprise, BPE in collaboration with the State government through Public Ptivate Partnership to revamp the industries.
“I have moved to further formulate projects that will stimulate the economy and improve the GDP of the State from 5.4 to 8 million dollars.
“To this end, I am glad to announce to the people of the state that we will soon launch Benue Palm Oil.”