…as Company Secures $ 10 million to Construct Agro Commodities Hub, 500 Mass Housing Units, others
By Benjamin Agesan
The Benue Investment and Property Company Limited-BIPC is targeting about 200 units of tractors in the first phase of its partnership with Farmatrac Agro Solutions.
The Management of the company disclosed this at a meeting with representatives of Farmatrac Agro Solutions at the board room of the company’s headquarters in Makurdi.
Managing Director of the company Asemakaha stated that the partnership aligns perfectly with BIPC’s mission and His Excellency, Hyacinth Iormem Alia’s policy to drive industrial and economic development in Benue State.
He said, “BIPC stands to benefit from this partnership by establishing a tractor rental/hiring centre to serve local farmers and becoming the exclusive distributor of Farmatrac spare parts in the whole of north central thereby generating revenue through the sale and maintenance of the tractors.”
The head of West Africa partner Godfrey Ajayi, who led other members of his team, outlined an ambitious plan by Farmatrac to establish a presence in Africa and Benue in particular to acquire tractors and equipment from Denmark to Benue,
Setting up a tractor assembling plant and training bBenueyouths as mechanics to provide ongoing maintenance and support for the tractors.
In a Zoom presentation, the Managing Director and CEO of Farmatrac Agro Solutions, Vincent Chand, stated that this partnership represents an exciting opportunity for Farmatrac to bring high-quality, affordable farming mechanization to West Africa and that he is happy that Benue State through BIPC will be the first to key into this partnership.
According to him, FaFarmatrac’sission is to help increase agricultural productivity and support the livelihoods of smallholder farmers in West Africa.
Following the development, Benue Investment and Property Company Limited (BIPC) activated modalities to secure USD 10 million through Shelter Afrique to build 500 Mass Housing for low-income earners in Benue state, agro commodities hub, Central logistics park, and diaspora eco-city.
The initiative is to synch with HE, Governor Hyacinth Alia’s policy focus to deliver mass affordable housing, tap into the agricultural value chain, and maximize benefits in the logistics space.
Shelter Afrique (SAf), also known as the Company for Habitat and Housing in Africa, is funded by The Rica Development Bank and created to exclusively support the development of the African real sector and housing sector.
The hub is to create direct wealth for more than one million traders in the agricultural value chain, while guaranteeing uninterrupted food supplies to more than 5 million Benue, for at least 120 days, in a period of scarcity.
The hub will have storage facilities for more than 300 trucks that will daily service the needs of thousands of operators within the food value chain throughout the year, while large commercial transactions will be processed in the facility.
It is projected that the Park will unleash the potential in both the upstream and downstream of the agricultural sector and will further reaffirm the leadership of Benue as the first destination for agricultural produce being the Basket of the Nation.
The hub will be operated on an off-grid power source of 500 megawatts and is expected to provide 100,000 direct jobs.
Amenities that will come to the facility include aggregation facilities, administrative offices, trading areas, packaging facilities, processing facilities, cold chain/dry goods services, and logistics services.
Others are trailer parks, water treatment plants, health cecentresfuel Station fire stations, abattoirs, and lairage.
It could also be recalled that Governor Hyacinth Iormem Alia few days back commissioned three subsidiaries of Benue Investment and Property Company Limited (BIPC). The subsidiaries are; Bipc Bakery, makers of Bipc Loaf Bread; Bipc Water, producers of Bip Water; and Bipc Fertiliser, manufacturers of Emperor Fertiliser.
The Governor also launched a motorcycle hire-purchase scheme initiated by the company to reduce youth restiveness and address unemployment in Benue.
Represented by the Honourable Commissioner for Commence, Trade, and Investment, Hon. Manasseh Aluemo Orpin, the governor lauded Dr, Raymond Asemakaha for the giant strides he has recorded within the short time of his service at the company.
He promised that the government would support the company’s drive to build a brewery, assuring that the state government is working tirelessly to ensure that moribund industries in the state are revived.
According to the governor, the new subsidiaries will greatly improve the socioeconomic activities of the state and ensure that his industrialization policy is achieved.
The Managing Director and CEO of BIPC, Dr Draymond Asemakaha-CFA, explained that the factories were designed to create employment opportunities for people in the state and stimulate the economy.
Asemakaha noted that the company is targeting 1 million jobs for the state’s industrial sector, adding that when fully operational, the newly established factories will create over 200 opportunities for Benue youths.
“BIPC needs liquidity of not less than N7 billion to stabilise and drive the industrial revolution that we are currently working on to revamp and build a minimum of 30 industries within the first 4 years of this administration, with job creation of over 1 million.”
The MD announced the loaf of bread to be sold at # 900g for 1,400, 800g 1for,100, and 400g for 550; a bag of sachet water for #350, #1800 for a pack of bottled water, while a 50kg bag Emperor Fertilizer is #38, 000 and enjoined citizens of the state to patronise the products.
