Benue Investment Firm To Launch Outgrowers’ Scheme For Farmers

The Benue Investment and Property Company Limited (BIPC) plans to launch an outgrowers’ scheme targeting sorghum, rice and orange farmers across the state to boost local production, value addition and farmers’ earnings.

Its group managing director of BIPC, Dr Raymond Asemakaha, disclosed this at the end of a strategic consultative meeting with farmer groups, cooperative societies, and traders’ associations held at the company’s headquarters in Makurdi.

Asemakaha lamented the long-standing practice of Benue farmers selling their produce at the farm gate, which he said has continued to deprive the state of much-needed revenue.

He noted that external firms have, for years, influenced what farmers produce in the state, while the bulk of the economic gains are taken elsewhere.

“To tell ourselves the truth, for how long are we going to grow food while others grow their income and revenue to their states and respective businesses? It is high time we put an end to this,” he said.

The BIPC boss revealed that the company plans to roll out a citrus aggregation programme and an orange outgrowers scheme as part of efforts to launch orange-based products later this month.

According to him, the company is preparing to receive up to 100 truckloads of oranges from local farmers, urging cooperatives and farmer groups to mobilise their members to take advantage of the opportunity.

On sorghum production, Asemakaha said BIPC would distribute 20 bags of sorghum seedlings to farmers under the outgrowers scheme this year, with a guaranteed offtake arrangement for use by its brewery and malt company at harvest.

He explained that the initiative would help retain more value within the Benue economy, noting that the company previously spent about ₦500 million purchasing sorghum from Zaria.

“The 20 bags will go a long way in providing seedlings for the farmers, and by harvest, we will offtake the produce for our brewery, which will also produce our malt,” he added.

Asemakaha further announced plans to establish the Benue Commodity Exchange, which he said would be registered to enable collaboration with the Nigerian Commodity Exchange (NCX), thereby ensuring better pricing and structured markets for farmers’ produce in line with the vision of His Excellency, Rev. Fr. Hyacinth Iormem Alia’s administration.

Earlier, BIPC’s Chief Risk Officer, Andrew Simon, said the consultative meeting was designed to foster transparency in trading and strengthen collaboration among farmers, traders, and the company.