The Benue Investment and Property Company (BIPC) aims to establish grain hubs where off-takers can purchase grains directly, ensuring farmers receive value for their produce.
BIPC Managing Director, Mr Raymond Asemakaha, made the disclosure on Wednesday in Makurdi during a meeting with key stakeholders in the agricultural sector.
Asemakaha said that the move was to address food insecurity and to also improve the economic conditions for farmers.
The MD emphasised the urgency of the initiative and expressed concern that external buyers deplete local agro-commodities, adding that such affects cash retention within the state.
“It diminishes the value farmers receive for their produce. Despite Benue being recognised as the food basket of the nation, food prices remain higher than neighbouring states.
“With the support of local traders, BIPC aims to position the state as a grain hub, facilitating the aggregation and sale of agricultural products to external buyers.
“We should be able to mop up this produce and sell it directly to traders from outside the state.
“The initiative aims to mitigate the risks farmers face in not receiving adequate compensation for their goods.
“BIPC also plans to utilise Benue sacks for agrocommodities, allowing for the tracking and management of farm produce,” he said.
Asemakaha further stated that the introduction of the warehouse receipt system would ensure that the services are accessible in all parts of the state.
According to him, it will guarantee that farmers will receive fair value for their money and make them know how much a unit costs for their farm produce.
The President of the Benue Farmers and Traders Protection and Development Association, Mr Manasseh Torsue said the lack of government involvement and inadequate market regulations adversely affected agribusiness in the state.
Torsue further stated that the absence of standard measurement scales and high tax levies from unofficial sources were affecting state market operations.
He also said numerous police checkpoints and a lack of customised sacks were also barriers to market efficiency.
The General Manager of Real Estate Infrastructure, Mrs Lucy Jato, in her vote of thanks, expressed gratitude to the members of the Benue Traders Association and encouraged them to embrace the agro project wholeheartedly.
Jato said the initiative is in line with the transformation agenda of Gov. Hyacinth Alia, which is aimed at enhancing the livelihood of farmers and boosting the state economy.
“As this initiative takes shape, stakeholders remain optimistic that it will create a more favourable environment for agricultural trade, benefiting both farmers and the broader community in Benue State.
“According to a 2024 report by the Food and Agriculture Organisation, 33.1 million people are projected to face food insecurity by 2025.
“BIPC is set to be the hub of agro commodities in the state,” she said.
NAN
