The Benue State Government has finalized plans to launch its own beer brand to stem the outflow of capital to other states. Dr. Raymond Asemakaha, the Managing Director of Benue Investment and Property Company, made this announcement to reporters on Tuesday. He mentioned that the beer’s name will be revealed during its December launch. Asemakaha, leading journalists on a tour of the proposed brewery, water, and bakery factories in Makurdi, the state capital, explained that recent studies indicating substantial monthly spending on beer consumption outside the state prompted the initiative to establish a brewery.
Asemakaha emphasized the company’s intention to provide Benue residents and Nigerians with high-quality beer made in the state using locally sourced materials. He clarified that BIPC does not intend to compete with existing breweries but aims to offer consumers a unique beer experience. He noted the high rate of alcohol consumption in the state and the resulting drainage of funds out of Benue, which informs the decision to venture into beer production to retain cash flow within the state.
According to Asemakaha, the estimated production capacity of the brewery is 180,000 bottles per day, with a fermentation period of 15 days. He mentioned the plan to reduce beer prices in the state without engaging in direct competition with other breweries. Asemakaha reiterated the goal of keeping revenue within Benue by encouraging locals to support their products.
Asemakaha highlighted plans to locally source raw materials and indicated that full production at the factory would begin in the first week of December. He also mentioned plans to provide seedlings to farmers to enhance local production. The managing director estimated the cost of the brewery project to be between ₦700 and ₦800 million, expressing confidence in securing the necessary funding.
