Dr Raymond Asemakaha, Managing Director (MD) of Benue Investment and Property Company (BIPC), limited, has said that the company would soon launch the Benue Palm oil, as part of efforts to boost the Gross Domestic Product (GDP), of the state.
The MD, of the company who disclosed this at a press conference held at the BIPC Guest house, Makurdi on Tuesday stressed that the global economic crisis following the attack on ships in the Red sea was already having a negative effect on the importation of palm oil into the country.
He further observed that without wasting much time, BIPC has commenced plans to raise palm plantations in each of the 23 Local Government Areas (LGAs) of the state, so that raw materials for the production of palm oil would be in abundance.
Dr. Asemakaha, however, noted that in the interim, he has directed the Real Estate and Investment Department of the company, to commence work on 10 out of the 23 hectares it has in Abinsi, Guma LGA area, for the commencement of the palm plantation project.
According to him, “To key into the vision of our dear Governor, Rev. Fr. Dr. Hyacinth Iormem Alia, I have moved to further formulate projects that will stimulate the economy and improve the GDP from 5.4 to 8 million dollars.
“To this end, I am glad to announce to the people of the state that we will soon launch Benue Palm Oil. You will agree with me that palm oil is being imported into the country, and today, because of the global economic crisis and the blocking of the Red Sea, it’s becoming increasingly difficult to get the product here.
“As a matter of urgency, we plan to set up a palm plantation in each zone of the state to start a palm plantation (in the 23 LGAs of the state). In a few years to come, it will provide raw materials for the plant with surpluses exported.
“As such, I’ve therefore directed our real estate and investment department to commence work on 10 out of the 23 hectares of land the company has in Abinsi, Guma LGA area of the state, for the palm plantation project.”
In a related development, he said, “We also agreed that the remaining 13 hectares of land at Abinsi would be used for a low-income earners’ Estate in the state.
“This too, I have directed the real estate department to work so we could have something for our people, even for those who earn as little as 500,000 naira, our amortization policy will permit such low-income earners’ to also have homes.
“My management also enforced a recovery order for a property that was recovered back in 2019 but was not enforced, and we have commenced the process of turning the space of the 33-room property into a BENUE WATER FACTORY to become a player in the water industry.
“I’m glad to announce also that as part of a short-term approach to expanding the businesses of the Company, we have reintroduced the BIPC pastries. We’re optimistic that when we have this on board, we will expand the economy of the state and get more employment for the teeming youth of the state.
“Already we have initiated discussions with the state government to transfer moribund industries and other properties to the company to ensure proper management on behalf of the state. We desire to consolidate the non-performing assets of the Company in Abuja and Kaduna to make sure that we revamp moribund industries in the state thereby creating employment and curtailing post-harvest losses.
He also stated that “under my watch, BIPC, will be service-driven as such we are creating a One-stop-shop where investors can get all the information, process, and amount needed to do business in the state.
“All assets of the state will be registered and a special desk officer created to provide such information. In addition, we have launched a website (www.bipc.be.gov.ng) to offer diverse information on how business can be done. All this is put in place so we could have ease of doing business in the state.
“Consequently, going forward BIPC will from 1st March 2024 go digital in all its operations. We have set up the structure for that transition and on that day all manual processes will be suspended for automated ones”, he stressed.
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