Welfarism describes the idea that government provides the basic needs of the people while the people pay taxes and perform civic and civil responsibilities. Governments exist basically to formulate policies, govern and render services to the populace for their ultimate good. Even though most governments have variously failed in this respect, especially in developing countries, that has not diminished the fact that it is the responsibility of government to cater for the basic needs of the people. In most cases, people wait on the government to provide almost everything including food and shelter. The rationality of welfarism or otherwise is contestable but what’s important at this material moment is the fact that the current BIPC board led by its chairman, astute and experienced elder statesman Hon Mike Mku, in keeping with the dreams of founding fathers has extended welfarism beyond the traditional conventions to a whole new level that’s an envy of modern day capitalism.
The Benue Property Investment Company (BIPC), a holding investment company for the Benue state government which was established in 1979, few years after the creation of Benue state from the defunct Benue-Plateau by the Aper Aku administration, has evolved to become one of the only surviving companies established by the visionary leadership of Governor Aper Aku. While there were many of such creations, most of the companies have become moribund or sold due to dwindling returns on investment (RoI) and poor management. That the BIPC has survived different phases of challenges that often confronted state owned ventures and has rather prospered beyond expectations under the administration of Governor Samuel Ortom is a product of determination, purposefulness and direction given by the company’s board led by Hon Mku coupled with the sheer managerial tenacity of the incumbent managing director, Barrister Alex Adum PhD. The company’s board has inspired stability and institutionalised accountability within the company. This has brought enormous stability in the affairs of the company. Indeed, the board’s sense of direction and commitment to the company’s vision deserve commendation. Under this synergy between the board and management, BIPC has metamorphosed from a conventional company into a world class conglomerate with billions of naira in assets capable of competing with multinationals anywhere around the world.
From a company that was thought to be initially confined to managing few guest houses and other properties on behalf of the Benue state government across the federation, BIPC, under Governor Ortom administration, rose to become a notable player in the real estate sector delivering world class housing and apartments not just to Benue people but all over the country at affordable rates to boot. For instance, the completed Nyorigungu estate in Makurdi and Consgrove Estate in Mabushi Abuja are two housing intervention projects that have launched and ranked the company as a major player with the ability to deliver on its vision while solving basic housing needs of the people. The standard quality of these housing units is a clear indication of the company’s commitment to standards. This has no doubt earned the praise and adulation of people including outside the state.
By bridging the housing deficit in Benue and elsewhere with the futuristic estates thus far completed, Governor Ortom has once again proven to the Benue people that he’s the people’s governor that has prioritised the welfare of Benue people above mere party politics. As the days of his administration draw to an end, Ortom, like Aper Aku, will be remembered for their foresight and people oriented policies and legacies. Just like the administration of Aper Aku was responsible for establishing the BIPC and other futuristic projects, the Ortom administration will be remembered for taking the company from a mere holding company to a giant conglomerate with diverse interests including equities, bonds, real estate, hospitality, tourism and energy, etc. As the prospects of middle income earners to become landlords blossom, there are indications that for this project, the people will remain perpetually in awe of the Ortom administration for doing what even the Federal Mortgage Bank has failed to do over the years.
It is indeed morally necessary to rally support for the company and again, it is not too much to ask for the patronage of the good people of Benue and beyond so that the company can consolidate on providing more gains for the greater good of the masses. This call is particularly important to draw the citizens’ attention to the evolving opportunities made available by the company for the good of all.
Whereas it is widely believed that government has no business doing business, the Benue state government through her flagship holding company, BIPC, has continued to do business with steady growth in portfolio, assets and profits for over four decades and counting. This resilience should ordinarily place the BIPC at par with other flourishing multi national companies. Sadly, good news spreads slowly as a norm. With an incredibly large portfolio enough to sustain her own projects and policies as they do, the BIPC has demonstrated resilience and earned her place as a unique organisation deserving of support. With the collective and sustained efforts of management and board as it’s presently being experienced, the company will in no distant time compete favourably with multi national companies and other top Nigerian corporate enterprises.
In Kaduna state where the likes of Durbar Hotel, Hamdalla Hotel, Arewa Suites, ASA Pyramid and other new entrants dominated the hospitality and hotel business, Benue Guest house, a proud flagship of BIPC has not only tipped the balance but has also become a major player in the hospitality sector in Kaduna state. Nestled in the serene neighbourhood of Ungwan Sarki on Rabah road and close to the once famous NAF Club, the Benue state guest house has become a toast to most Kaduna socialites. The Ortom administration through the current management of BIPC has rebranded and repositioned the enterprise towards higher profits and the results are impressive.
Of course progress of this nature cannot be accomplished without painstaking efforts at sanitising the system, blocking leakages and flushing bad eggs out of the way. The restructuring of BIPC is perhaps one of the shrewdest tasks Alex Adum and his team performed on assumption of office. If one attributes the overall success of the BIPC to this internal audit and in-house cleaning, they’ll not be far from the truth. Indeed, the management of BIPC in the last few years is no longer business as usual. It is difficult to talk about the purges in the BIPC without talking about the top-notch accounting and book-keeping processes that can be rivalled with any flourishing enterprise all over the world.
As the company’s assets continue to grow and the coffers deepen, the company has become even more deeply involved in touching the lives of Benue people through audacious Corporate Social Responsibility (CSR) schemes. The company has made reasonable interventions in education and health, awarded scholarships and sponsored many medical outreaches to remote parts of the state. If this is not the first in the history of the company, then whoever is chronicling historical events around the company has missed an important phase.
Aside venturing into complex profitable ventures like equities, the oil and gas sector with the obtaining of oil lifting license and establishment of petrol filling stations with excellent service delivery as well as joint ventures and partnerships, the BIPC under the current leadership has gone a step further to fund and operate a licensed microfinance bank and other very profitable ventures that will soon place Benue on the map of financially self-sufficient states in Nigeria. This has also reduced unemployment as much as the other many ventures have. The renegotiation of inherited financial liabilities to ensure stability is another point one dares not miss. This is all possible with the harmonious working relationship between the management led by Alex Adum and board of the corporation led by Mike Mku, an elder statesman who has brought his deep wealth of experience to bear on the company.
The BIPC has also massively invested in human resource and capacity building through manpower development, training and various schemes for skills acquisition and staff development. It is on record that the BIPC is currently one of the largest employer of labour and the greatest contributor to the Gross Domestic Product (GDP) in Benue State. As an agrarian state, the manifold job opportunities offered through the very many schemes and operations of the company with the multiplier effect they bring cannot be forgotten in a hurry. The Benue people will forever be indebted to the current BIPC leadership for neutralizing the chronic effect of unemployment in Benue State.
To whom much is given, much is expected. The Benue people have reposed a lot of confidence in the company and the hopes of Benue people are very high considering the lofty prospects and benefits enjoyed thus far. The Board and management must know that there must be no excuses than to do more for the people. They must continue and sustain the mission and vision of the company because it is the only vibrant company owned by the state and one of the legacies of the legendary Aper Aku that’s still standing strong. Hopefully the incoming administration also will be sure proud of the overall development at BIPC and would indeed vote for consolidation for the survival of the company and more positive prospects for the masses. All hands should therefore be on deck to ensure that Benue moves from an agrarian state to an industrial and service oriented economy leveraging on the vast agricultural potentials and other areas of comparative advantage. Above all, the independence of the company should be guaranteed to ensure stability and seamless growth of the company for the good of all.
As Governor Ortom prepares to bow out , BIPC is set again to deliver a world class shopping mall courtesy of BIPC leadership innovation. May the dreams of our fore fathers be nourished as demonstrated by BIPC under Governor Samuel Ortom administration.
Oduma Richard Oduma,
Abuja.
