The Benue Investment and Property Company (BIPC) has intensified efforts to revive abandoned industries through asset audits targeting job creation, investment attraction and economic growth.

The Group Managing Director of BIPC, Dr Raymond Asemakaha, disclosed this during inspections of the abandoned Igumale Cement Factory and Otukpo Burnt Bricks Factory during the ongoing asset audi.

Mr Asemakaha said the exercise formed part of BIPC’s root cause analysis initiative to identify factors responsible for industrial collapse and recommend lasting solutions across the state economy.

He identified policy inconsistency, poor infrastructure, weak value chains, inadequate private investment, and limited public-private partnerships as major causes of industrial decline in Benue State.

According to him, Benue’s population has increased from about 2.5 million during the Aper Aku administration to over seven million, while industrial productivity has continued to decline significantly across sectors.

He recalled thriving industries, including Benue Brewery, Taraku Mills, Benro Packaging, Lobi Bank, Benue Bottling Company, Flour Mills, Benue Cement and Ikyogen Cattle Ranch, which later became moribund.

Mr Asemakaha said Governor Hyacinth Alia’s administration was determined to reverse the trend through industrial revitalisation, investment promotion, value-chain development, industrial clusters and sustained human capital development initiatives.

He said reviving dormant industries would create jobs, reduce dependence on government employment, diversify the economy and increase value addition to the state’s abundant agricultural produce and resources.

He added that government would retain a 35 per cent equity stake in revitalised industries, while private investors would provide management expertise, operational leadership and additional investment capital.

Mr Asemakaha directed immediate resumption of work at the Igumale Cement Factory and renewed the government’s invitation to the Chinese firm to complete installation of the long-abandoned cement plant.

He assured the company that government would facilitate completion of the environmental impact assessment and mining lease documentation required before the project could resume full operations successfully.

The inspection team was led by Deputy Governor, Sam Ode, who visited the abandoned industrial facilities to evaluate their condition and identify practical steps required for their rehabilitation and revival.

The deputy governor said the inspection followed Mr Alia’s directive to assess abandoned industries across Benue South and prepare them for rehabilitation and productive commercial operations.

He reaffirmed the administration’s commitment to revitalising moribund industries as a strategy for stimulating economic growth, attracting investments and improving the livelihoods of Benue residents across communities.

The Director of Industry, Mbamilin Yandev, said the state government and the Chinese company began installing the Igumale Cement Factory in 2001 under an 80-million-dollar BOT arrangement.

She said the last communication with the Chinese company came in 2017 after it requested completion of the environmental impact assessment and mining lease before resuming installation activities.

The delegation also inspected the Otukpo Burnt Bricks Factory, established during the Aper Aku administration, where Mr Asemakaha directed immediate commencement of rehabilitation works.

(NAN)