BIPC continues asset audit of moribund industries, visits Igumale cement.Otukpo burnt bricks.

From Attah Ede, Makurdi 

The Benue Investment and Property Company Limited (BIPC) has continued its audit of moribund industries across the State with a view to resuscitate them.

The Group Managing Director of the  Investment Company, Dr. Raymond Asemakaha, stated that the essence of the exercise is to enable the company  address the root causes of industrial decline as a pathway to sustainable economic development.

Speaking during an inspection of abandoned industrial assets in Benue South Senatorial District, Dr. Asemakaha said the exercise forms part of BIPC's Root Cause Analysis (RCA) aimed at identifying and resolving the factors responsible for the collapse of industries in the state.

The inspection team, led by the Deputy Governor of Benue State, Barr. Sam Ode, visited the abandoned Igumale Cement Factory and the Otukpo Burnt Bricks project as part of the ongoing assessment tour of  moribund industries in the State.

Dr. Asemakaha however identified policy inconsistency, lack of continuity in government programmes, the collapse of state-owned enterprises, inadequate private sector investment and public-private partnerships, poor infrastructure, and weak value chains as the major factors behind the decline of Benue's industrial sector.

He noted that despite the state's population increasing from about 2.5 million during the administration of the late Governor Aper Aku to over 7 million today, industrial productivity has declined significantly.

The GMD recalled that Benue once hosted thriving industries such as Benue Brewery, Taraku Mills, Benro Packaging, Lobi Bank and fertilizer plants,Benue Bottling Company Limited, Flour Mills, Makurdi, Benue Cement, Lobi Bank,Modern Market,  Ber-Agbum Fish Farm, Zaki Biam Yam Flour,Makurdi Sheraton Hotels, Ikyogen Cattle Ranch, but lamented that many of the companies have either collapsed or become moribund.Benue Bottling Company Limited

He said the administration of Rev. Fr. Hyacinth Iormem Alia is determined to reverse the trend through the audit and revitalisation of abandoned industries, revival of the Aku industrial model, development of industrial clusters, aggressive investment promotion, value-chain development and human capital investment.

"For every dormant industry, jobs are taken away. Our methodology is simple—revive industries, create jobs, reduce overdependence on government, diversify the economy and add value to our agricultural produce.

"We pledge to build a resilient and sustainable economy by ushering in a resistant private sector  driven with manufacturing positioned as a major catalyst for industrial growth, job creation, economic diversification and sustainability."

"Our strategy is Holds a 35% equity share through state participation, ensuring alignment with national industrialization and job creation goals.while private investors take lead,"he said

During the inspection, the BIPC boss also directed the immediate resumption of work at the Igumale Cement Factory and renewed the state's invitation to the Chinese firm, Zhengzhou Cangxi Industry and Commerce Development Company Ltd, to return and complete the installation of the long-abandoned cement plant.

He assured the company that the Benue State Government would facilitate the completion of the outstanding Environmental Impact Assessment (EIA) and mining lease documentation required for the project to resume operations.

Benue State Deputy Governor, Barr Sam Ode, mni, said the inspection was in line with Governor Hyacinth Iormem Alia's directive to assess abandoned industries in Benue South with a view to restoring them to full operation.

He reaffirmed the administration's commitment to revitalizing moribund industries as a strategy for stimulating economic growth and improving the livelihoods of the people.

Director of Industry in the Ministry of Industry, Trade and Investment and Desk Officer for the project, Mrs. Mbamilin Yandev, disclosed that the Benue State Government and the Chinese company commenced the installation of the Igumale Cement Factory in 2001.

According to her, both parties secured an 80-million-dollar facility from the Chinese Government under a seven-year Build, Operate and Transfer (BOT) arrangement.

She explained that the last communication between the state government and the company was in 2017, when the Chinese firm requested the completion of the Environmental Impact Assessment and mining lease before continuing with the project. However, the process was not concluded at the time.

Chairman of Ado Local Government Area, Hon. Engr. Sunny Oche, APC senatorial candidate Hon. Francis Ottah Agbo, and House of Representatives  Candidate, Hon. Anthony Agom commended Governor Alia for taking concrete steps to revive the abandoned cement factory.

The delegation also inspected the Otukpo Burnt Bricks factory, established during the administration of the late Aper Aku in the 1980s where the GMD ordered commencement of rehabilitation.