Benue to secure N10bn bond for cement factory

The Benue Investment and Property Company Limited (BIPC) has initiated moves to raise a N10 billion bond from the Securities and Exchange Commission (SEC) to establish a cement factory in the state. Group Managing Director of BIPC, Dr Raymond Asemakaha, who disclosed this while briefing journalists during a review of the company’s 2025 performance in […]

The Benue Investment and Property Company Limited (BIPC) has initiated moves to raise a N10 billion bond from the Securities and Exchange Commission (SEC) to establish a cement factory in the state.
Group Managing Director of BIPC, Dr Raymond Asemakaha, who disclosed this while briefing journalists during a review of the company’s 2025 performance in his office, stated that the development would boost industrial growth and job creation.
He said the bond would be raised in two series and expected to be secured before the end of the year, adding that key agreements and regulatory approvals have already been obtained to ensure prompt commencement of work on the cement plant.
Asemakaha also listed major milestones recorded by the company, noting that the multi-million naira Benue Brewery has reached 85 percent completion, with about 85 per cent of its raw materials sourced locally.
He said test production has begun, with one trailer each of bottled and canned drinks already produced, and full rollout scheduled for December 23, 2025, despite earlier power-related challenges which, he said, had been resolved.
The BIPC boss further disclosed that Benfruit had been powered and test production conducted, while full-scale production would commence in February 2026 after installation of required software.

He added that BIPC’s Eco-City project had been progressing steadily, with three housing units completed to roof level, stressing that the company currently does not record losses and projects over 4,000 new jobs when its three major industries become fully operational in 2026.