Business
THE Benue Investment Property Company (BIPC) says it’s employing 400 youths to work in its polythene bag and bread factories.
The Managing Director, Mr Raymond Asemakaha, made the disclosure on Monday in Makurdi when he briefed newsmen after inspecting the ongoing construction of the factories.
Asemakaha said both projects would be unveiled in the next 16 days, while the employment would be both direct and indirect.
“We introduced the leather printing factory because we are printing in Lagos for over N27 million, but by the time we start in the next two weeks, we would be producing the nylon bag here.
“We will also be producing the pure water sachets here, and we will also be extruding here. We would also be doing the labelling here instead of taking our money to a different state.
“We are doing this because we want to retain the cash flow within the system. We don’t want our money to go outside. Doing so will increase the state Gross Domestic Product (GDP).
“We will save a lot if we print at home. For example, we were spending close to N18 million to print nylons and labels for just bread.
“But if we are producing here, 50 per cent of that money would be retained,” he said.
Asemakaha said he had approached the state government to help with the funding to actualise the project.
He stated that they need a lot of resources to buy equipment and raw materials to help reduce the unemployment rate in the state.
NAN reports that the polythene bag factory is located at the BIPC Headquarters, while the bread factory expansion is located at Naka Road, Makurdi. (NAN)
A.I
Oct. 21, 2024
Tags: Benue Investment Property Company Mr Raymond Asemakaha
