The Benue Investment and Property Company Limited (BIPC) has announced plans to commission three new factories by October 2025 as part of its efforts to tackle unemployment and drive economic growth in the state.
The new facilities include the Food Basket Brewery, Benfruit, and Juice Factory, all aimed at creating jobs and boosting the local economy.
Group Managing Director of BIPC, Dr. Raymond Asemakaha, disclosed this on Thursday while receiving another consignment of 10 truckloads of machinery for the upcoming Food Basket Brewery in Makurdi. This brings the total deliveries so far to 26 out of an expected 50 trucks.
Dr. Asemakaha explained that the initiative is a deliberate move by the company to curb youth unemployment by establishing viable enterprises within the state.
“The Food Basket Brewery, Benfruit, and Juice factories will all take off in October this year. We’re projecting to create no fewer than 1,500 direct jobs across the three ventures,” he stated.
He noted that, currently, Benue lacks industrial-scale businesses, which has contributed to the economic challenges and youth unemployment in the state.
“Benue doesn’t have many large businesses. We’re introducing these factories to help strengthen our economy and take our youths off the streets.”
According to him, establishing a standard brewery requires an investment of between $5 million and $10 million, and BIPC is fully committed to completing the project.
Dr. Asemakaha further revealed that the brewery alone is projected to generate between N400 million and N500 million monthly upon commencement of operations.
He highlighted BIPC’s ongoing role in job creation, noting that the company’s previous initiatives have already provided 580 direct jobs and over 3,000 indirect jobs for indigenes of the state.
“We want our money to circulate within the state to drive local economic development. The brewery sector is a massive market. For context, Nigerian Breweries once posted monthly profits exceeding N26 billion. Benue contributes significantly to that market, but we haven’t been tapping into it. Even if we can capture 50–60 percent of our own local market, the economic return will remain within the state,” he said.
Dr. Asemakaha also pointed to other BIPC projects such as bread, nails, water, and polythene factories as part of the agency’s broader strategy to generate employment and stimulate local industries.
“All these businesses are aimed at giving our people jobs. That’s the most sustainable way to contribute to Benue’s economic development,” he said.
He concluded by expressing deep appreciation to Governor Hyacinth Alia for his consistent support of BIPC’s initiatives and reaffirmed the company’s commitment to the administration’s industrialisation agenda.
