Dr Raymond Asemakaha was appointed the Managing Director/CEO, Benue Investment and Property Company by Rev. Fr. Hyacinth Alia in 2023 to man the state’s investment and asset management agency so as to foster the new government’s Aliazation agenda.
The governor Alia led government came under an enormous weight of insecurity, economic malaise, dilapidated state assets and high unemployment among the youth population. This necessitated a warm reception by Benue people who were gradually slipping off from their place as Nigeria’s food basket. The Aliazation would seem like a long rope that would drag the people out from the sink mire. Dr Asemakaha is one of the governor’s stewards who has taken very seriously the trust bestowed on him to transform the state’s economy.
Dr Asemakaha is a banker, finance and development professional with over 16 years experience across local and international firms contributing in business development, venture financing, commercial banking, policy formulation and management consulting for public and private institutions. With Ph.D. in Business Administration Management and an MBA in International Business and Economics, equipping him with the knowledge to drive corporate success, it is no doubt why he hit the ground running immediately he assumed office around November 2023.
His leadership has focused on realistic initiatives that target real positive impact on the poor and vulnerable in the state, and providing a boost to micro and small enterprises. Firstly, kickstarting an investment drive that will reposition the state, he hosted the maiden “Benue Local Investors Summit” rolling out the robust investment portfolio of the state for investors to leverage.
In ensuring in-house preparedness for implementation of the Aliazation agenda in the agency, he carried out organizational and structural re-engineering especially the renovation of its headquarters and hospitality outlets (guest houses and hotels) to befit its new vision.
Dr Asemakaha led the launch of the state’s first owned water packaging factory, agro-allied plant, bakery and juice processing factory targeted to employ over 100,000 Benue citizens cumulatively. Unlike past administrations that have cornered such businesses to their personal titles and their proxies, the Rev Fr. Alia led administration has prioritize revitalizing government owned businesses and positioning the government as the purveyor of small businesses.
As a way to boost transport and logistics services for the company, Dr Asemakaha led BIPC management procured vehicles and motorcycles for both staff and the company as we a way to augment the difficulty in adjusting to the hike in transport fares. This was further consolidated with the delivery of electric and solar cars to launch a modern taxi service in Makurdi, Gboko and Otukpo with a pilot of 20 CNG vehicles. The scheme is targeted at an additional 80 units of CNG vehicles to be delivered in the 2nd phase.
He has not only focused on micro enterprises but also capital intensive ventures like mining and industrial agriculture in partnership with foreign investors with goal to harness the state’s rich mineral resources to boost internal revenue generation. Also, the actualization of affordable standard housing for the urban Benue citizens in the state capital thereby uplifting its status comparable to other state capitals in the country, resulting into the commitment to establish a state owned mortgage institution.
Dr. Raymond Asemakaha has proven that a well rounded professional cannot be limited by resources or environmental disposition as he has transformed the state’s erstwhile redundant investment and asset management company into an economic powerhouse that is gradually insulating the previous hardship and hopelessness in the state. With a commitment to excellence, innovation, and leadership, Dr. Raymond Asemakaha is sure to continue to drive impactful change in the finance and business sectors in the state, positioning BIPC for long-term success and sustainable development.