Benue Zeva To Break Nigerian Breweries Monopoly - BIPC

Benue Zeva To Break Nigerian Breweries Monopoly - BIPC

The Managing Director and Chief Executive Officer of the Benue Investments And Property Company (BIPC) Dr. Raymond Asemakaha says, establishment of the Benue Food Basket Brewery which produces the Zeva alcoholic drinks would not only create competition for the Nigerian Breweries Company (NBC) Plc but also break the monopoly the elite bear and beverages producing company enjoys in Nigeria.

The NBC Plc declared profit margin of twenty six billion naira recently, courtesy of the largest percentage of patronage NBC enjoys from the Benue community believed equally to be one of her most consuming customers. The BIPC Managing Director made the disclosure to members of Nigeria Union of Journalists (NUJ) led by its Chairman, Comrade Bemdoo Ugber to the company.

Asemakaha disclosed that consumption of the NBC's products by the population in the state amounted to sixty percent of total market share for the company contributed more than half to its profit by Benue people in the financial year. He expressed concern that no significant impact came from the NBC despite the huge contribution Benue consumers made and that the imbalanced treatment under grew the economy of the state.

The Managing Director noted that since NBC did not spend the money earned from the state contributed by indigenes more than half of the profit margin through consumption of the products, the treatment equaled to capital flight!

On the strength of the position, he said, the Alia administration decided to reduce the gap with rebuilding of the economy by pulling out the impoverished population of the state from the situation.

The MD acknowledged that by establishing the Benue Food Basket Brewery as producers of Zeva liquor product and the Benue Juice Factory among others would not just to create competition against NBC, but also to break the monopoly the elite company enjoys from the state's market. Added to the development according to him was to facilitate the process for retaining proceeds from sale and consumption of the NBC'S products in the state.

In line with the development agenda, Asemakaha disclosed that out of the fifty trucks BIPC has ordered for supply of the materials to produce the Zeva bear among others, twenty six arrived while the remaining would be delivered soon for commencement of production.

The Managing Director amplified that the best way to empower people was to give opportunity through creation of a market economy where businesses like Zeva would make impact. He continued that the new companies have aligned with economic agenda of the Alia administration for developing not just today but the future of Benue State.

Dr. Asemakaha said "what we want to do is to create a future and the Executive Governor of Benue State is creating that future. If you want to critique the world, the only way to do so is what you are seeing here today."

The BIPC Managing Director clarified equally that the idea for establishing the companies informed the administration's decision to visit China in 2024 and aggressively instigate the economic growth with the commercial activities.

According to him, about 1,500 workers would be needed for the businesses to operate apart from the 580 direct and 3900 indirect jobs Governor Alia's government business initiative has already created using the BIPC.

He confirmed that the initiative has tendency to hold back the capital resources from flying out of the state. He accepted that as the valuable initiative enhances wellbeing of the state's human capital needs, the estimated returns on the investments every month has the projection of four to five hundred million naira. The juicy economic forecast exhilarated Asemakaha to call for greater support to the Alia administration to achieve the set goals.