We’ve sold bread worth N300m in 5months – BIPC

The Benue Investment and Property Company (BIPC) has sold bread worth N300 million within five months of establishing its bakery in Makurdi, the state capital.

Our correspondent reports that the BIPC Bakery, commissioned by the Benue state government in May 2024, sells at least two million loaves of bread each month and contributes to the company’s revenue, job creation, and Internally Generated Revenue (IGR).

Managing Director/Chief Executive Officer, Raymond Asemakaha, told newsmen on Monday that the company sold bread worth N300 million over the past past five months of the bakery’s existence.

He added that as part of its expansion strategy, the BIPC plans to begin nylon production in two weeks, to further boost its growth and create job opportunities.

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He explained that the production of water bags and labels, will allow the company to cut costs as it currently prints in Lagos and spends over N27 million on external printing services, noting that the new facility will enable the company to retain up to 50 percent of that amount.

Asemakaha said that wth over 100 direct jobs and an additional 175 indirect jobs expected, BIPC aims to reduce unemployment and provide opportunities for local youths while the company targets to create between 200 to 300 jobs through its various initiatives.

The managing director added that in its long-term plan, the company would expand production to other local government areas, including Otukpo, Gboko, and Katsina-Ala.

“We are expanding to meet the growing demand and to ensure we reduce the risks by diversifying across different regions. Every quarter, we aim to roll out new projects,” the BIPC boss concluded.