NEWS
Beer Distributors Generate Over N850 Million Monthly Income From Sale Of Beers In Benue
.From Attah Ede Makurdi
The Managing Director and Chief Executive Officer (MD/CEO) of the Benue Investment and Property Company limited (BIPC), Dr Raymond Asemakaha, on Tuesday, revealed that beer distributors in Benue State generates between N850 to N870 million monthly from sale of beers to alcoholic consumers in the State.
He stated that it was realised that the people selling these beers were taken the money made from the sales out of Benue State, adding that the State government has concluded arrangement to embark on production of beer in order to retain the money in the State. Dr. Asemakaha who disclosed this to newsmen shortly after inspection tour of the brewery site , water and bakery factories located at KM16 Akile Gboko road and George Akume road in Makurdi respectively, said the beer’s name will be unveiled during its launch in December 2024..According to him, the need to set up new beer factor after the one established by past government went into moribund, was as a result of research carried out by BIPC which indicated that a huge amount of money leaves the state every month on beer consumption.”Asemakaha said the company was out to give Benue and Nigerians a high-premium quality beer made in the state using local raw materials. We will not go into competition with any brewery company therefore, would do everything for the people to enjoy a beer with a difference.“Basically, when we came on board, we understand that the rate of alcohol consumption in the state is between N850 to N870 million per month. We understand that the people that are selling these beers have taken this money out of Benue State.“So, we discovered and said no, all what we need to do is to float a new company that we can be able to observe and retain the cash flow within the system. That is why we are embarking on beer production.“This N850 to N870 million is a monthly sale of beers in the state, and within the month of December, they have made one billion naira in sales. So, one of the things we are doing is to help retain the cash flow within the system.”The expected production capacity is 180,000 bottles per day, because the fermentation period is 15 days. We will crash the price of beer in the state, but we are not going to compete with them (other breweries). We want to retain the cash within us. It is our own thing. So, the people here, our brothers and sisters, should be able to key in and take our products,” he said.”The brewery project would cost between ₦700 and ₦800 million and we will raise it through capital funding from Benue sons and daughters. The raw materials will also be source locally and we will commence full production by the first week of December.“What we want to do is that this season, we want to give people seedlings so that we can go back to production and take those products from them to plant and harvest,” Dr. ADr. Asemakaha explained the it would cost his company about N800million to set up the brewery saying the 23 Local Government Areas, LGAs, of the state would be encouraged to own 23 percent of the shares while Benue indigenes would be advised to acquire shares in the factory “because we want our people to own the business.””We will raise capital out there and do this job so that you can have a share, I can also have a share and other people too so that we can control the business. We have 23 LGAs in the state and each one of them will take one percent share and the remaining ones will be giving to individual Benue citizens to subscribe”, Dr. Asemakaha stated On the water factory and bakery, the Managing Director said the two companies which were sited within the same premises at Tse Ayu, Along George Akume Way would cost the sum of N220m to complete assuring that they would be completed and commissioned on May 27, 2024.On his part, the Departmental Head, Business Development and Strategy, BIPC, Mrs. Theresa Abeda said the company was breaking new grounds in investments given the wealth of experience and business know-how of the man at the helm of affairs who had been doing much to transform the company.The Department Head, Real Estate and Infrastructure, Jerry Iorsun, on his part, assured that all projects being embarked upon by the company were of the best quality and in line with the acceptable construction standardNEWS
FCTA Moves to Curb Medical Tourism
By Laide Akinboade, Abuja
Federal capital Territory Administration (FCTA) has pledged to provide the necessary support for the successful completion and operation of the African Medical Center of Excellence, with a view to reversing medical tourism.
The FCT Minister of State, Dr. Mariya Mahmoud, made this pledge during a site tour of the state of the art facility, of African Medical Centre for Excellence, billed to be operational in early 2025.
Mahmoud noted that the partnership between the African Export-Import Bank and Kings College Hospital London to establish the 170-bed hospital was a testament to the commitment to advancing clinical care, training, and research in specialty areas such as oncology, cardiovascular services, hematology, diagnostics, and general medical services.
The minister further added; “The potential impact of this initiative in reversing medical tourism and reducing healthcare worker migration is commendable.
“I am encouraged by the prospect of over 1000 workers being employed to support the hospital’s operations.
“Therefore, I am fully committed to ensuring that the Federal Capital Territory Administration provides the necessary support for the successful establishment and operation of the African Medical Center of Excellence.
“We are happy to see, that the 6.5 hectares of land, which was donated by the Federal Capital Territory Administration, on behalf of the Federal Government of Nigeria, as part of the host country agreement, has been developed to accomodate this hospital.”
While conducting the minister round the project, the Chief Executive Officer, African Medical Center of Excellence, Mr. Brian Deaver, commended the FCT Administration for the strategic partnership.
He used the occasion to inform the minister that the management staff of the medical centre are looking forward to further contributions of the Administration to improvement in the management of non communicable diseases in the territory.
Deaver stressed that the potential benefits of the location of this hospital in Abuja is significant, just as he expressed confidence that the partnership would yield positive outcomes for the healthcare sector in the region.
NEWS
Ortom, Ode, Asemakaha Felicitates With Alia on 58th Birthday
From Attah Ede, Makurdi
Former Governor of Benue State, Chief Samuel Ortom, the incumbent Deputy Governor, Barr Sam Ode and the Managing Director and Chief Executive Officer (MD/CEO) of Benue Investment and Property Company (BIPC), Dr Raymond Asemakaha, Wednesday, extended their felicitations to the State Governor, Rev Fr.
The former governor in a statement signed by his Media Aide,Terver Akase and made available to newsmen in Makurdi, prayed God to grant Governor Alia the wisdom and health to steer the affairs of the state.
He maintained that God would grant Alia the enablement to surmount all challenges fronting his administration and wished him a memorable birthday celebration and many more years ahead.
The statement read in part: “Your Excellency, as you celebrate, I pray that God grants you wisdom, good health and strength to enable you to continue to steer the affairs of our dear state.
“Leadership comes with its numerous challenges, but I have no doubt that with God’s grace and guidance, all problems are surmountable.”
Similarly, the Deputy Governor of the State, Barr. Sam Odeh, on behalf of the State Executive Council (SEC), prayed that Governor Alia’s birthday would be a celebration of his uncommon passion for speedy transformation of the state.
“On behalf of the Benue State Executive Council, I write to warmly felicitate with Your Excellency, Rev. Fr. Dr. Hyacinth Iormem Alia, Executive Governor of Benue State on the occasion of your 58th birthday anniversary.
“As you mark your years of existence on earth today, we heartily join your family, the good people of Benue State and the entire nation in wishing Your Excellency a very happy birthday.
“May your 58th birthday be a celebration of your positive energy and uncommon passion for speedy transformation of Benue State. As Governor of our dear state, you have, in the last one year, demonstrated pragmatic leadership with selflessness and dedication, by rendering quality service to the good people of Benue.
“Your ability to turn challenges into opportunities is truly admirable. We have every reason to celebrate you today, because your transformation drive has brought the state to national and global prominence with many laudable initiatives and partnerships that are now yielding positive results in various sectors of Benue economy.
“Happy Birthday! Your Excellency, you are truly a special gift to the state and a beacon of inspiration for us all. May your birthday mark the beginning of a new chapter filled with even greater successes and fulfillment.
“We pray that the Almighty God will continue to uphold, keep and strengthen you for His glory and to the benefit of humanity. Congratulations and happy birthday!, Ode stated”.
On his part, the MD/CEO, BIPC, Dr Raymond Asemakaha, on behalf of the management and staff of the company, said the governor had so far demonstrated visionary leadership, tireless efforts, and unwavering commitment to the transformation of Benue State.
Governor Alia’s exemplary governance and dedication to the welfare of the people are truly inspiring, stressing that this milestone birthday marks the beginning of another remarkable year filled with wisdom, good health, and unparalleled success.
NEWS
CBN Unveils Strategy to Boost Remittances
By Tony Obiechina, Abuja
The Central Bank of Nigeria (CBN) has activated plans to double foreign-currency remittance flows through formal channels by granting 14 new International Money Transfer Operators (IMTOs) Approval-in-Principle (AIP).
This was disclosed in Abuja on Wednesday, by the Bank’s Acting Director of Corporate Communications, Mrs.
She said, “This will spur liquidity in Nigeria’s Autonomous Foreign Exchange Market (NAFEX), augmenting price discovery to enable a market-driven fair value for the naira.
“It will be recalled that the CBN Governor, Mr. Olayemi Cardoso, had recently declared: “We’ve set ourselves a target to double remittance flows into Nigeria within a year, a goal I firmly believe is within reach.
“We are wasting no time driving progress to remove any bottlenecks hindering flows through formal channels permanently. We have a determined pathway and a sequenced approach to tackling all challenges ahead, working hand in hand with key stakeholders in the remittance industry,” she stated.
Continuing, Sidi Ali, said that the CBN viewed increasing formal remittance flows—one of the major sources of foreign exchange, accounting for over 6% of GDP—as a means of reducing the historical volatility in Nigeria’s exchange rate caused by external factors, such as fluctuations in foreign investment and oil export proceeds.
The increase in the number of IMTOs is one of the primary actions initiated by the CBN’s remittance task force, overseen by Governor Cardoso as a collaborative unit pulling together specialists to work closely with the private sector and market operators to facilitate the ease of doing business in the remittance ecosystem in Nigeria.
The task force was established as a direct result of an executive learning session with IMTOs during the World Bank/IMF Spring Meetings held in Washington DC, United States of America, in April 2024. The task force will meet regularly to implement strategy and monitor the impact of its measures on remittance inflows.