Constructing Brewery in Benue Despite Monthly Expenditure of N850 Million

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The decision has been made by the Benue State Government to introduce its beer label, aiming to retain capital within the state. 

Dr. Raymond Asemakaha, the Managing Director of Benue Investment and Property Company, disclosed this information to journalists on Tuesday. He indicated that the beer’s name will be unveiled during its launch in December. Asemakaha, guiding reporters on a tour of the planned brewery, water, and bakery facilities in Makurdi, the state capital, clarified that recent research highlighting significant monthly expenditures on beer consumption outside the state prompted the establishment of the brewery initiative.

Asemakaha underscored the company’s commitment to furnishing Benue residents and Nigerians with premium beer crafted within the state, utilizing locally procured ingredients. He clarified that BIPC’s objective isn’t to engage in direct competition with established breweries but rather to provide consumers with a distinctive beer experience.

Highlighting the prevalent alcohol consumption rate in the state and the consequent outflow of finances from Benue, he emphasized the rationale behind the decision to enter the beer production sector: to maintain economic circulation within the state.

Asemakaha stated that the brewery’s anticipated production capacity is 180,000 bottles daily, with fermentation lasting 15 days. He outlined the strategy to lower beer prices in the region while avoiding direct competition with other breweries. Asemakaha reaffirmed the objective of keeping profits within Benue by encouraging local support for their products.

Additionally, Asemakaha highlighted intentions to procure raw materials locally and indicated that full-scale production at the facility would commence in the initial week of December. He also discussed plans to distribute seedlings to farmers to boost local output.

The managing director estimated the brewery project’s cost to fall between ₦700 and ₦800 million, expressing confidence in securing the required funding.

 

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