The Benue State Government has announced plans to start producing a beer brand to retain capital within the state and reduce the outflow of funds to other states.
The Managing Director of Benue Investment and Property Company, Dr. Raymond Asemakaha, revealed that the beer’s name will be unveiled during its launch in December.
Asemakaha stated that the initiative was born out of a study showing that approximately N850 million leaves the state monthly on beer consumption.
The company aims to produce high-premium quality beer using local raw materials, sourcing materials from local farmers, and creating jobs for residents.
The brewery, with an estimated production capacity of 180,000 bottles per day, will commence full production by the first week of December. The project is expected to cost between N700 and N800 million, which will be sourced through investments.
Asemakaha emphasized that the goal is not to compete with existing breweries but to retain cash flow within the state, creating a unique product for Benue and Nigerians to enjoy. The move is seen as a significant step towards boosting the local economy and reducing capital flight.
