Benue Investment and Property Company (BIPC) has announced its plan to construct an N800 million brewery in Makurd.
Dr. Raymond Asemakaha, the Managing Director and Chief Executive Officer of BIPC, revealed this initiative following an inspection tour of the brewery, bakery, and water factory sites in Makurdi.
The decision to venture into beer production stems from the observation that other beer firms rake in over N850 million in monthly sales within the state. Dr. Asemakaha emphasized the importance of retaining a large percentage of this revenue within Benue by establishing a high-quality local brand. He stated, “We resolved to float a new company that would produce a high-quality brand to help us retain a large percentage of the resources that leave the state and offer employment opportunities to our teeming youths.”
The brewery is slated to produce the company’s beer brand, with a projected output of 180,000 bottles per day. Dr. Asemakaha clarified that the goal is not to compete with existing firms but to curb capital flight while offering superior products. Furthermore, the company plans to promote backward integration by providing farmers with seedlings for raw material production.
In a bid to promote local ownership and participation, BIPC intends to allocate 23 percent of the brewery’s shares to the 23 Local Government Areas (LGAs) of Benue State. Additionally, Benue indigenes will be encouraged to acquire shares in the factory, fostering a sense of ownership and empowerment within the community.
The water factory and bakery projects, situated at Tse Ayu along George Akume Way, are progressing swiftly and are expected to be completed and commissioned on May 27, 2024. Theresa Abeda, the Departmental Head of Business Development and Strategy at BIPC, commended the company’s innovative investments under Dr. Asemakaha’s leadership. Jerry Iosun, the Department Head of Real Estate and Infrastructure, assured that all projects maintain the highest quality standards.
