Reports from the Benue State Government indicate that the state has emerged as one of the top consumers of alcohol, particularly lager beer, with a monthly consumption value surpassing N1 billion.
In a recent tour of the proposed state-owned brewery, water, and bakery facilities in Makurdi on May 8, 2024, the Managing Director of Benue Investment and Property Company (BIPC), Raymond Asemakaha, disclosed these figures. When operational, these facilities are expected to reduce capital flight to other states.
Asemakaha explained that the decision to establish the brewery stemmed from recent revelations of significant amounts of money leaving the state due to extensive beer consumption.
He also mentioned that studies indicated a monthly consumption rate of N850 million from January to November, with an annual spike to over N1 billion in December.
“Upon assuming office, we noted that alcohol consumption in the state amounted to approximately N850m-N870m per month,” Asemakaha shared. “It became apparent that the vendors selling these beverages were transferring substantial sums of money out of Benue State.”
“Therefore, we decided to establish a new company that could help retain these funds within the state by venturing into beer production. The monthly beer sales in the state range from N850m to N870m, with December sales exceeding N1 billion. Our goal is to bolster the internal cash flow system,” he added.