{"id":111797,"date":"2024-05-07T17:12:10","date_gmt":"2024-05-07T16:12:10","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=111797"},"modified":"2024-05-07T17:12:10","modified_gmt":"2024-05-07T16:12:10","slug":"benue-to-build-brewery-as-residents-spend-n850m-on-beer-monthly","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/benue-to-build-brewery-as-residents-spend-n850m-on-beer-monthly\/","title":{"rendered":"Benue to build brewery as residents spend N850m on beer monthly"},"content":{"rendered":"<div>Benue State Government has concluded plans to start production of beer brand to stop capital flight to other states.<\/p>\n<p>The Managing Director of Benue Investment and Property Company, Dr Raymond Asemakaha, disclosed this to journalists on Tuesday.<\/p>\n<p>He said that the beer\u2019s name will be unveiled during its launch in December.<\/p>\n<p>Asemakaha, who took journalists on a tour of the proposed brewery, water, and bakery factories in Makurdi, the state capital, said that the initiative to set up a brewery came as a result of recent studies showing that a huge amount of money leaves the state every month on beer consumption.<\/p><\/div>\n<div>\nAsemakaha said the company was out to give Benue and Nigerians a high-premium quality beer made in the state using local raw materials.<\/p>\n<p>He said that BIPC was not in competition with any brewery company therefore, would do everything for the people to enjoy a beer with a difference.<\/p>\n<p>He said, \u201cBasically, when we came on board, we understand that the rate of alcohol consumption in the state is between N850 million per month.<\/p>\n<p>\u201cWe understand that the people that are selling these beers have taken this money out of Benue State.<\/p>\n<p>\u201cSo, we discovered\u00a0 and said no, all what we\u00a0 need to do is to float a new company that we can be able to observe and retain the cash flow within the system. That is why we are embarking on beer production.<\/p>\n<p>\u201cThis N850 to N870 million is a monthly sale of beers in the state, and within the month of December, they have made one billion naira in sales. So, one of the things we are doing is to help retain the cash flow within the system.<\/p>\n<p>According to the MD, the estimated production capacity is 180,000 bottles per day, and the fermentation period is 15 days.<\/p>\n<p>\u201cWe will crash the price of beer in the state, but we are not going to compete with them (other breweries). We want to retain the cash within us. It is our own thing. So, the people here, our brothers and sisters, should be able to key in and take our products,\u201d he said.<\/p>\n<p>While stating that raw materials will be locally sourced, Asemakaha stated that the factory would commence full production by the first week of December.<\/p>\n<p>\u201cWhat we want to do is that this season, we want to give people seedlings so that we can go back to production and take those products from them to plant and harvest,\u201d he added.<\/p>\n<p>The managing director said that the brewery project would cost between \u20a6700 and \u20a6800 million, just as he expressed assurances that the amount would be sourced.<\/p><\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Benue State Government has concluded plans to start production of beer brand to stop capital flight to other states. The Managing Director of Benue Investment and Property Company, Dr Raymond&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":111798,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-111797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Benue to build brewery as residents spend N850m on beer monthly - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/benue-to-build-brewery-as-residents-spend-n850m-on-beer-monthly\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Benue to build brewery as residents spend N850m on beer monthly - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"Benue State Government has concluded plans to start production of beer brand to stop capital flight to other states. 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