Commitment to Economic Transformation
The Benue State Government has reaffirmed its commitment to transforming the state into an industrial hub. This was highlighted during an inspection of an ongoing project, where the Managing Director of Benue Investments and Property Company Limited (BIPC), Dr Raymond Asemakaha, emphasised the state’s dedication to economic growth through industrial development. Asemakaha made this known during his visit to the polythene bags factory in Makurdi, a subsidiary of the state’s bakery and bottled water production company.
Employment Opportunities for Youths
One of the significant outcomes of these initiatives is job creation. The polythene bags factory, once completed, is expected to employ around 100 youths. This project aligns with the state’s broader vision of reducing unemployment and empowering local residents through sustainable industrial development. By focusing on creating employment, the government aims to strengthen the state’s economy from within.
Quarterly Project Rollout
Asemakaha assured that the government-owned company, BIPC, is committed to delivering new projects on a quarterly basis. His tour of the polythene bags factory and bakery facilities along the Makurdi/Naka road underscores the state’s plans to drive economic development across multiple sectors, including agriculture, infrastructure, real estate, and finance. Each new project will contribute to the state’s economic resilience.
Boosting Local Production
BIPC’s recent ventures into bakery and bottled water production have already impacted the local economy by lowering the prices of bread and bottled water in the state. The Managing Director revealed that significant funds had previously been spent on producing polythene and water bags in Lagos. However, with the establishment of local production facilities, half of those costs will be saved, ensuring that the state’s cash flow remains within the local economy.
Self-sufficiency and Economic Growth
Asemakaha noted that by producing essential goods such as polythene bags locally, Benue State aims to retain its financial resources and prevent capital outflow to other states. This self-sufficiency will help boost the state’s GDP and ensure sustainable economic growth. The state is focused on establishing an industrial hub that will serve as a model for North Central Nigeria.
Expansion Plans Across Local Governments
In addition to its current projects, BIPC plans to expand its production capabilities to other local government areas in Benue. The company intends to begin operations in areas like Otukpo, Gboko, and Katsina-Ala. This expansion is aimed at reducing risks associated with concentrating production in one location, while also ensuring a balanced economic impact across the state.
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