From Joseph Uchenna, Makurdi
The Benue Investment and Property Company Limited (BIPC) said its Brewery factory when operational in October 2025, will generate between N400 million to N500 million monthly.
Group Managing Director, BIPC Dr. Raymond Asemakaha, disclosed this on Thursday in Makurdi while receiving another 10 truck carrying machinery for the soon-to-be-launched Food Basket Brewery.
He said the launch of the three factories is meant to alleviate poverty and boost Benue economy.
It could be noted that the company had earlier received 16 truck loads of machineries for the beer company out of the expected 50 trucks.
Asemakaha said the company has decided to deliberately established factories to take off the growing multitude of graduates off the streets.
Said he, “The Food Basket Brewery, Benfruit and Juice factories all will take off in October this year.
“We are projecting to employ not less than 1, 500 direct jobs across the three businesses.
“At the moment, Benue don’t have businesses, we are introducing these businesses so that it will help us boost our economy and take our youths out of the streets,”
The GMD said to establish a standard brewery about £5m to £10m is needed for the project, adding that they have already started and there is no going back.
He intimated that, when commissioned, the brewery factory will generate between N400 million to N500 million monthly.
Asemakaha said the company through the establishment of the previous factories have provided 580 direct jobs and over 3000 indirect jobs for the Benue people.
“We want our money to rotate within the state to boost our economy. The brewery is a big market. The profit of the Nigerian Brewery the last time I know was over 26 billion a month.
“At the end, Benue is one of the contributor in that market but we didn’t tap into it. Even if we are able to have within 50 to 60 per cent it should be able to return the cash flow within the State.
“The businesses that we have introduced, the bread, nails, water, polythene factories are to give our people jobs and we feel that is the best way to contribute to the development of our economy.
“To start up a brewery, it will cost you not less than £5m to £10m . We have started and there is no going back.
Dr. Asemakaha expressed gratitude to Governor Alia for his unwavering support to BIPC, pledging the company’s commitment to the administration’s industrialization agenda.
