Benue Investment and Property Company Limited (BIPC) has announced plans to commission three new factories in October 2025.
It said the move is aimed at tackling unemployment and stimulate economic growth.
The Group Managing Director of BIPC, Dr. Raymond Asemakaha, made the announcement on Thursday in Makurdi while receiving the 10th truckload of machinery for the upcoming Food Basket Brewery.
Blueprint reports that this delivery brings the total to 26 out of the expected 50 trucks of equipment for the brewery project.
According to Dr. Asemakaha, the three factories, Food Basket Brewery, Benfruit, and a Juice Factory, are part of a strategic initiative to create jobs and revitalise Benue’s industrial landscape.
“We are projecting to employ not less than 1,500 direct jobs across the three businesses,” Asemakaha said. “Benue currently lacks sufficient businesses. These factories will help boost our economy and take our youths off the streets.”
Dr. Asemakaha revealed that the brewery alone is expected to generate between N400 million to N500 million monthly once operational.
He estimated the cost of establishing a standard brewery to be between £5 million and £10 million (approximately $5 million to $10 million), affirming that the project is already underway and irreversible.
He emphasised the importance of retaining financial circulation within the state, noting that Benue contributes significantly to Nigeria’s beer market but has yet to fully capitalise on it.
“The Nigerian Brewery reportedly made over ₦26 billion in monthly profits. If Benue can capture even 50 to 60 percent of that market locally, it would dramatically improve our cash flow,” he added.
BIPC’s previous ventures—including bread, nails, water, and polythene factories—have already created 580 direct jobs and over 3,000 indirect jobs. The new factories are expected to build on this momentum, furthering the company’s mission to industrialize Benue.
Dr. Asemakaha also expressed deep appreciation to Governor Hyacinth Alia for his unwavering support of BIPC’s initiatives, pledging continued alignment with the administration’s industrialization agenda.
“We want our money to rotate within the state to boost our economy. These businesses are our way of contributing meaningfully to Benue’s development,” he said.