The Benue Investment and Property Company Limited (BIPC) has signed a partnership agreement with Shining Colours International, a Chinese firm, to develop the mining sector in Benue State once the state government lifts the ban on mining activities.
The agreement was signed by BIPC’s Managing Director/CEO, Dr. Raymond Asemakaha, alongside other BIPC management staff at the company’s boardroom in Makurdi.
According to the partnership, BIPC will earn 25 percent of the post-tax income from Shining Colours’ mining and agricultural business activities.
The two companies will also jointly develop agro commodities hubs to benefit Benue farmers.
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“This partnership has the potential to generate significant revenue for the state and contribute to its economic development in line with the vision of His Excellency, Rev. Fr. Dr. Hyacinth Iormem Alia, the Executive Governor of Benue State,” Asemakaha stated.
He added, “This partnership will generate over a billion Naira in cash flow within the state and create jobs for our youth. We intend to extend this partnership to other mining companies operating in the state so that the state can benefit from the mining sector.”
Asemakaha emphasised BIPC’s commitment to working with Shining Colours International to ensure the success of this partnership and create a positive impact on the state once the mining ban is lifted.
Fang Mig and Lucy Quin, representatives of Shining Colours International, expressed their enthusiasm for the collaboration and commitment to the partnership terms, stating their willingness to work together to achieve mutually beneficial outcomes.
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