Benue company launches palm oil brand
The Benue Investment and Property Company Limited (BIPC) has disclosed plans to launch a stateowned palm oil brand.
Dr Raymond Asemakaha, the managing director of the BIPC, made the disclosure at a press conference in Makurdi, the Benue State capital.
“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 is 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 a few years to come. We will provide raw materials for the plant with surpluses exported. As such, I have 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 Local Government Area of the state for the palm plantation project.
“We also agreed that the remaining 13 hectares of land at Abinsi would be used for a lowincome earners’ estate in the state. For this too, I have directed the real estate department to work so that we could have something for our people. Even for those who earn as little as N500,000, our amortisation policy will permit them to also have homes,” he said.
Asemakaha further disclosed that when he visited the company’s Fountain Estate in Nyorgyungu, Makurdi shortly after his appointment in November last year, it was observed that the laudable project was besieged with many financial impropriety.
He noted that over N700million was disbursed for the project, yet when he took over, only 16 out of the 30 units were completed. He stressed that it was rather disheartening that although the company had agreed to execute the project on direct labour, a contractor was engaged without award papers.
“Sadly, we observed that the project was not completed, but we will do everything to ensure that it is completed. We have also gone to the Makurdi guest house of the company and the proposed Makurdi shopping mall and are carrying out critical reforms to ensure that we net profit in the company,” the managing director maintained.