Benue Investment and Property Company records a 216 percent growth through industrial revivals and new factories.

The stock valuation of the Benue Investment and Property Company has increased significantly over the past three years. Operating within the state, the institution transitioned from relying merely on asset sales to focusing heavily on local production and manufacturing under current leadership.

Dr Raymond Asemakaha, the Group Managing Director of the organization, officially presented the performance report during a media briefing. The comprehensive update highlighted major transformations in corporate governance, asset recovery, and regional economic development across the region, according to information published by The Sun Nigeria.

This substantial financial expansion reflects targeted interventions by the state government, shifting focus toward sustainable industrialization. Key institutional partners, including Knight Frank and KPMG International, assisted with valuation, geo-fencing, and corporate restructuring to ensure long-term viability.

Revival of industrial assets and factories

When the administration took over in 2023, the stock valuation stood at ₦7,949,075,082.30. Recent figures show a valuation of ₦25,150,927,722.63, representing an increase of approximately ₦17.2 billion or 216 percent. The leadership focused on reviving dormant structures rather than borrowing money to pay salaries.

Among the major milestones is the activation of Taraku Mills, which returned an asset valued at about ₦70 billion to productive use. Additionally, the administration established the Food Basket Brewery, utilizing locally sourced agricultural produce from farmers in Guma, Logo, and Kwande.

Agricultural value chain and production expansion

The company upgraded Bensono Concentrate with an automated production line capable of processing up to 40,000 bottles per hour. This expansion creates a reliable commercial market for orange farmers located in Katsina-Ala, Vandeikya, and Ushongo.

Furthermore, the Benval Juice Factory reached 95 percent completion during the reporting period, boasting a stated capacity of 160,000 tonnes. Other operational ventures include a bakery, a water factory, and housing developments under Eco City Phases One to Three.

Corporate governance and workforce growth

Institutional credibility improved significantly, earning an AA rating from Agusto & Co and a B+ rating for the Benue State Government from Fitch Ratings. Auditors from PKF Professional Services reviewed the books while leadership prepared the company for a potential listing on the Nigerian Exchange.

Employment figures expanded dramatically, with the workforce increasing from 121 employees to about 784 personnel. Additional recruitment is expected as facilities like Zeva, Benval Juice, and Taraku Mills scale up their daily industrial operations.

Frequently Asked Questions

What is the current asset valuation of BIPC?

The stock valuation of the Benue Investment and Property Company reached ₦25.15 billion, marking a 216 percent increase from ₦7.9 billion over three years.

Who is the leader of the Benue Investment and Property Company?

Dr Raymond Asemakaha serves as the Group Managing Director of the state-owned investment company under Governor Hyacinth Alia.

Which major industrial assets were revived by the administration?

Key revived and upgraded assets include Taraku Mills, the Food Basket Brewery, Bensono Concentrate, and the Benval Juice Factory.