News

Benue To Build Brewery As Residents Spend N850m On Beer Monthly

Published

2 years ago

May 7, 2024

Editor

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 Asemakaha, disclosed this to journalists on Tuesday.

He said that the beer’s name will be unveiled during its launch in December.

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.

Asemakaha said the company was out to give Benue and Nigerians a high-premium quality beer made in the state using local raw materials.

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.

He said, “Basically, when we came on board, we understand that the rate of alcohol consumption in the state is between N850 million per month.

“We understand that the people that are selling these beers have taken this money out of Benue State.

“So, we discovered and said no, all what we 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.

“This 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.”

According to the MD, the estimated production capacity is 180,000 bottles per day, and the fermentation period is 15 days.

“We 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,” he said.

While stating that raw materials will be locally sourced, Asemakaha stated that the factory would commence full production by the first week of December.

“What 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,” he added.

The managing director said that the brewery project would cost between ₦700 and ₦800 million, just as he expressed assurances that the amount would be sourced.

News

Transfer: Premier League Clubs Scramble For Dele-Bashiru

Published

15 minutes ago

May 6, 2026

Editor

Lazio midfielder, Fisayo Dele-Bashiru is a subject of interest from three Premier League clubs, according to Sky Sports.

Lazio reportedly rejected offers from Nottingham Forest and Bournemouth for the Nigeria international in January.

La Biancolesti are bracing for more interest in Dele-Bashiru ahead of the summer transfer window, according to Sky Sports.

The 24-year-old has two years left on his contract with the Serie A club.

The attacking midfielder joined the Rome-based club from Turkish Super Lig outfit Hatayspor in 2024.

He has been a regular feature for Lazio this season.

News

Xenophobic Attacks: Nigerian Students To Picket MTN, MultiChoice, Other Businesses

Published

37 minutes ago

May 6, 2026

Editor

The leadership of the National Association of Nigerian Students, NANS South-West Zone D, has announced plans to picket South African companies in Nigeria following the ongoing xenophobic attacks in the country.

DAILY POST reports that some Nigerians were recently killed in South Africa over the violent attacks.

A statement issued to newsmen by Comrade Adeyemo Josiah Kayode, Coordinator, NANS South-West, Zone D, said that the association is mobilizing to take decisive and lawful action by organizing peaceful picketing and mass advocacy against South African business interests operating in Nigeria.

“We categorically state that the continued targeting of Nigerians under any guise is unacceptable and must come to an immediate end.

“This will include major corporations such as MTN Group and MultiChoice Group. It is morally indefensible for businesses to thrive in an environment where the lives of Nigerians are protected, while Nigerians are subjected to fear and violence elsewhere.

“This contradiction will no longer be tolerated,” the statement said.

News

N5m, N10m Zero-interest Loans: SheVentures Opens Applications For Women Entrepreneurs

Published

3 hours ago

May 6, 2026

Editor

First City Monument Bank (FCMB) has opened a new round of applications for its SheVentures proposition, offering zero-interest loans of up to ₦10 million to women entrepreneurs to ease access to working capital and support business growth.

The facility provides loans ranging from ₦500,000 to ₦5 million under a general category, and ₦5 million to ₦10 million for sector-specific businesses, with funding capped at up to 50% of an applicant’s average monthly turnover.

At the centre of the offering is a 0% interest rate, with all charges embedded in a transparent structure.

Repayment is structured over four or six months, allowing businesses to match obligations with their cash flow cycles.

Yemisi Edun, Managing Director and Chief Executive of First City Monument Bank (FCMB), said the initiative reflects a deliberate approach to inclusive growth.

“Inclusive growth requires access to capital and the right conditions for businesses to deploy that capital effectively.

“Women-led enterprises are critical to economic activity, yet they face structural barriers.

This intervention aims to help close that gap by providing financing that supports job creation, business expansion, and long-term sustainability for women entrepreneurs.”

“Access to affordable finance remains a major constraint for women entrepreneurs,” said Nnenna Jacob-Ogogo, Group Head, SheVentures and Impact Segments at First City Monument Bank (FCMB).

“By removing the cost barrier and offering quick, flexible funding, this zero-interest loan is designed to safeguard existing jobs, enable businesses to invest in growth initiatives, and foster resilience in challenging economic conditions.”

Women-owned businesses account for a significant share of Nigeria’s small and medium-sized enterprises but continue to face high borrowing costs and limited access to credit.

Through these efforts, SheVentures tackles persistent financing gaps facing women-led businesses, combining targeted funding with broader support to empower women entrepreneurs, encourage business innovation, and enhance their ability to compete on a national scale.

Applications for the zero-interest loan are now open.Apply now.