The Managing Director Benue Investment and Property Company Limited, Dr. Raymond Asemakaha, Tuesday, disclosed that the company had initiated move in line with the vision of Governor Hyacinth Alia to further formulate projects that would stimulate the economy and improve the GDP from $5.4 million (N4.811billion) to $8 million (N7.288 billion) for the state.
Dr. Asemakaha disclosed this at a press conference held at BIPC Guest House in Makurdi the Benue state capital.
He said the company had already initiated discussions with the state government to transfer moribund industries and other properties to the company to ensure proper management on behalf of the state.
He noted that it is the desire of BIPC Limited to consolidate the non-performing assets of the company in Abuja and Kaduna to ensure that moribund industries in the state are revamped thereby creating employment and curtailing post-harvest losses.
He disclosed that the company would soon launch Benue Palm Oil, to explore the opportunities in the palm product.
“You will agree with me that palm oil is being imported into the country, and today, because of the global economic crisis and the blocking of the Red Sea, it’s becoming increasingly difficult to get the product here.
“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, it will provide raw materials for the plant with surpluses exported. As such, our real estate and investment department has commenced 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.”
The MD expressed reservations over the financial impropriety discovered at the company’s Fountain Estate in Nyorgyungu, Makurdi, noting that although laudable as the project is, many financial impropriety issues marred it.
“For instance, over N700 million was disbursed for the project, yet when I took over, only 16 out of the 30 units were completed.
“It’s rather disheartening that even though the company had agreed to execute the project on direct labour, it was rather unfortunate that a contractor was engaged without award papers.
“We observed sadly that the project was not completed, and we will do everything to ensure that it’s completed.”
BIPC fast tracking projects to take GDP from N4.811bn to N7.288bn – MD
