By: Amadi Vincent Uzoma
The Benue State Government is planning to grant tax breaks to investors who want to invest in the state in an effort to revitalize and attract more investment. Dr. Raymond Asemakaha, the Managing Director of Benue Investment and Property Company Limited, made this announcement during a meeting with representatives from Nigerian Brewery in Makurdi. Asemakaha urged the Nigerian Brewery to restart production at its Makurdi/Gboko road plant within 90 days.
More details were shared during the meeting, highlighting the state government’s initiatives to create a more favorable business environment. A one-stop shop has been established to facilitate business activities, and tax holidays are being offered to encourage investors. The government is keen to see businesses operating in the state return to full capacity, benefiting from the local availability of resources like sorghum and a skilled workforce.
Asemakaha expressed regret that Nigerian Brewery did not take advantage of the opportunity for backward integration in Benue State before relocating to Kaduna, despite the state’s fertile land suitable for sorghum farming.
Joy Egolum, the Corporate Affairs Manager for Nigerian Brewery in the East and Middle Belt regions, acknowledged the state’s efforts and indicated the company’s interest in considering the incentives offered. She mentioned operational challenges that might delay an immediate return to production, emphasizing that even routine maintenance procedures can be time-consuming. While expressing gratitude for the state’s enthusiasm, Egolum assured that the company would respond before the 90-day deadline and proceed accordingly.
