The leadership of the Benue State House of Assembly has commended the Benue Investment and Property Company Limited­ (BIPC) for its commitment to advancing the industrialization agenda of the state.

The lawmakers gave the commendation after a tour of key BIPC facilities, including Benfruits, Benval, the BIPC Eco-City Estate, and Food Basket Brewery.

The delegation, led by the Majority Leader, Thomas Dugeri lauded the Group Managing Director Dr Raymond Asemakaha and the management and staff of the Benue Investment company for their role in transforming the state’s economic landscape.

Dugeri called for Government to support funding to enable the company to deliver more effectively on the governor’s strategic economic direction. He also pledged sustained legislative collaboration to support BIPC’s initiatives, including efforts to recover the Benue Hotel, Sheraton hotel, revive the JS Tarka Foundation, and enact enabling laws.

Also speaking, Chairman of the Benue Assembly Committee on Finance, Mathew Damkor, commended the current management for its initiatives and urged them to sustain the momentum. He specifically lauded the quality of ongoing work at the Eco-City Estate and assured of continued legislative support.

In his remarks, the BIPC Group Managing Director presented a detailed report of the company’s progress and challenges, and urged the Assembly to provide the necessary backing. He disclosed that the company has initiated several ventures, including bread production, water packaging, nail manufacturing, a printing press, and electric taxi services to stimulate economic activities in the state.

He further explained that, with support from the state government, BIPC has built a brewery and the Benva Juice factory as well as revive Benfruits, noting that the projects are expected to be commissioned next month.

“His Excellency’s administration recognizes that agriculture alone, without value addition, cannot fully unlock the state’s economic potential. By establishing industries that process local raw materials, the government is creating a value chain ecosystem and backwards integration that would benefit farmers, entrepreneurs, and the wider population.”

According to him, the three factories to be commissioned have the capacity to employ over 1,500 people as well as thousands of indirect job opportunities once the fruit juice factories become operational.

Asemakaha also appealed to the Assembly to fast-track legislation establishing a Benue Commodity Exchange, which he said would regulate the agro-market, stabilise prices, and ensure farmers receive fair value for their produce.

On the Benue Hotel, he revealed that BIPC will soon issue a 90-day ultimatum to the leasee of the hotel and other government assets currently not performing for being liable for economic sabotage, stressing that lessee should fully utilise the facility or risk revocation.

The GMD noted that such acts were fraudulently done without Board resolution and executive council approval as the lessee lacks capacity to handle such assets yet certificate of occupancy issued. He noted that those assets have the potential to employ over 400 youths and should not remain underutilised.

The Group Managing Director further told the Assembly that efforts are underway to develop a sustainable framework and a clear successor plan for the organisation.

Earlier, the Head of Business Development and Strategy at BIPC, Theresa Abeda, thanked the Assembly for the visit and reaffirmed the company’s commitment to continued collaboration for the overall development of the state.