Benue State Government Offers Tax Holidays to Investors, Directs Nigerian Brewery to Resume Production
The Benue State Government has announced that it is offering tax holidays to investors interested in investing in the state. This announcement was made during a meeting with representatives from the Nigerian Brewery at the Benue Investment and Property Company Limited corporate headquarters in Makurdi.
Key Points:
- The government has created a more business-friendly environment, introducing a one-stop shop for ease of doing business and offering tax holidays to incentivize investors.
- The state has a wealth of raw materials, such as sorghum, and a readily available workforce to support the brewery’s operations.
- The Nigerian Brewery has been directed to resume production at its plant within the next 90 days.
- The brewery had relocated to Kaduna a few years ago due to an ‘unfriendly business environment’.
- The state government is eager to see companies operating in the state return to full production.
- The Nigerian Brewery has expressed willingness to consider the incentives offered, but noted that immediate resumption of operations may be challenging.
Quotes:
- “We’re giving them (Nigerian Brewery) a 90-day ultimatum to resume production because if it is sorghum, we have sorghum. If it’s manpower, we have manpower.” – Dr. Raymond Asemakaha, MD, Benue Investment and Property Company Limited
- “The state has introduced easy ways of doing business with a one-stop shop, and so with tax holidays, it is important for you to quickly return to production.” – Dr. Raymond Asemakaha
- “We will come back to you very soon; we don’t need 90 days, but anyone who runs a production line will agree with me that even doing maintenance takes a longer time.” – Joy Egolum, Corporate Affairs Manager, Nigerian Brewery
