…Highlights Private Wealth, BIPC Reforms
By Amos Aar
THE GROUP Managing Director (GMD) of Benue Investment and Property Company (BIPC), Dr. Raymond Asemakaha, has responded to criticisms over the extravagant burial of his late father, Pa James Asemakaha Antor, held on June 21, 2025 in Vandeikya local government area of Benue State, reported by National Record on June 23. Speaking with journalists at the Benue State Council of the Nigeria Union of Journalists (NUJ) in Makurdi, Asemakaha defended his actions and used the opportunity to reflect on his private success and contributions to public service.
Obviously unshaken by public reactions, Dr. Asemakaha said he needed no validation for honouring his father in a way that showed his family’s values and personal capacity. “I buried my father, the man who made me who I am, and somehow, that became other people’s headache,” he said. “But nobody remembers when I flew him to India for spinal cord treatment or when I powered my entire community alone in 2022.”
He described the backlash as evidence of a “toxic environment” where genuine achievements often go unacknowledged. According to him, his wealth was not derived from his position at BIPC. “Before my appointment by Governor Hyacinth Alia, I already owned five companies, including Cedar Water and Segal Yoghurt in Abuja,” he stated, challenging Benue youths to embrace skills, entrepreneurship, and hard work rather than envy.
Asemakaha highlighted how his companies have supported BIPC operations since he took over in December 2023. “The first polythene bag used by BIPC came from my company. We print bread and pure water packaging right here. I could have insisted they pay me, but I didn’t. I gave them that knowledge to reduce costs and retain value within the state,” he explained.
He pointed out that by redirecting the company’s procurement from distant markets back to local production facilities—including some within his own firms—BIPC has been able to save money and create jobs. “That singular move has created over 58 new jobs. People now come to us to produce shopping bags, bread wrappers, and more.”
Beyond his private business interests, Dr. Asemakaha shared progress under his leadership at BIPC. From resuscitating unpaid staff salaries to launching new commercial ventures, he said his focus has been on diversifying the company’s income streams. “When I resumed, BIPC staff hadn’t been paid for seven months. We recovered N133 million from defaulted property payments and used part of it to pay salaries and start the bread factory,” he said.
Other initiatives under his tenure include the establishment of a water factory, fertilizer distribution, a motorcycle ownership scheme for commercial riders, and the employment of 580 direct staff—with an estimated 3,000 more engaged indirectly. “If not for BIPC, you’d be buying water for ₦1,000 and bread for ₦2,000. We deliberately maintain prices to ensure affordability for our people,” he said.
He also spoke on the near-complete BIPC brewery project, which he said is 84% ready and expected to reduce dependence on external breweries by retaining revenue within Benue. “Economic consumption data showed Benue was once a leader in brewery sales. We’re now reviving that with a factory backed by full equipment already paid for,” he revealed.
Another major development is a 65,000-capacity juice and mango processing plant set to begin operations in October. The plant, Asemakaha said, will create at least 400 direct jobs, with more opportunities for farmers supplying raw materials. “This will allow Benue to dictate prices for mangoes and oranges, not buyers from other states. We want value to remain here,” he said.
The BIPC boss also noted ongoing credit ratings and investment strategies that aim to reposition Benue State for sustainable investor confidence. “We did a Fitch credit rating for the state, which is essential for attracting serious investors. Before that, no investor would risk their money in Benue.”
Asemakaha recalled that Benue once had about 26 state-owned businesses but lamented the loss of those assets through what he described as poor privatization deals. “That’s why I took Dangote to court—to demand justice for Benue people. We cannot keep losing our economic backbone,” he stated.
He stressed the need for practical economic empowerment, not just handouts. “Through our partnership with the UN, we trained some IDPs in water and bread production. They’re now equipped to start businesses and stop depending on government relief,” he said.
While acknowledging that the Benue business environment is difficult, he insisted that deliberate reforms can change the story. “BIPC cannot do it alone. We need the media to help spread this message and push for a new economic mindset,” Asemakaha concluded.
