From Uche Nnorom, Makurdi
Benue Investment and Property Company Limited (BIPC) has commenced the process of raising 10 billion naira bond from the Security and Exchange Commission, SEC to build a cement factory.
Group Managing Director, BIPC Dr Raymond Asemakaha who disclosed this to newsmen in his office while reviewing performance of the company for 2025, said the bond which will be raised in two series, would be gotten before the end of the year.
He also, said that some agreements and approvals have already been signed, assuring that work on the cement factory will commence in earnest.
Speaking on the company’s achievements, Dr Asemakaha said the multi-million naira Benue Brewery has reached 85 percent completion with 85 percent of raw materials sourced within the State, promising that people will consume it during the yuletide.
He said, “already we have produced 1 trailer of bottle beer and 1 trailer of can. The beer will go out on 23rd December, 2025. There has challenges especially in powering the Brewery but we have overcome them.
“We also, powered our Benfruit and did a test production. However, there is a software that needs to be installed and full production will commence in Feb 2026. We are working to add value, drive process and chang the economy of the State.
“The economy of the State is growing since 1999, we have been on GDP – 2.2 margin growth. We are now in the positive. There is a shift in business line but we still need to activate ourselves in business space. We are introducing a turning point for students. Over 4000 more jobs will be on line when our 3 industries kick off in 2026.
“Our Eco city is ongoing. We have built 3 units upto roof level. We are not posting losses at all”.
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