Cephas Iorhemen 
The Benue Investment and Property Company Limited (BIPC) has said it introduced a disruptive mechanism to ensure fair pricing of commodities in the state.
This move, the company said is aimed at curbing arbitrary pricing of commodities to protect local farmers likewise consumers as a major dealer.
With BIPC’s role in the price advisory space, it has caused disruption in the pricing to make essential farm produce more affordable and also impact positively food security in the state.
The Group Managing Director and Chief Executive officer of BIPC, Dr Raymond Asemakaha, said the company initiative has succeeded in reducing the prices of soybeans that was sold to N980 per kilogram in November and December to N970 per kilogram; while paddy rice that was sold during the period at N760 per kilogramme is now sold at N660 per kilogramme.
The GMD stated that the initiative will establish a wholesale market for agricultural produce, which aims to reduce prices and improve the market for farmers
According to him, “We are not going to relent until consumers and farmers have value for their money as BIPC move to ensure fair pricing”.
He indicated that Soybeans, the price will further drop to N750 Per kilogram in the coming weeks while the rice price will be peg at N600 per kilogram.
Dr. Asemakaha highlighted that the BIPC initiative has achieved the purpose it was intended as it has guaranteed a market, created fair prices and increased income for Benue Farmers.
“As a result of this massive exercise by the company, this has triggered the crash of commodities in the market providing relief to consumers and farmers.”
He added that the Agro commodities initiative will ensure that civil servants in the state and the good people of Benue have food security at affordable prices.
He commended Governor Hyacinth Iormem Alia, for reducing poverty, improving livelihoods and ensuring sustainable development through the scheme.
The ongoing exercise is expected to continue in other major commodities including building materials, spare parts and others to foster positive change with long-term benefits to the citizens of Benue State.
He explained that the aim is to promote a competitive market by encouraging private-sector investment in agricultural marketing and processing.
“This can provide subsidies or incentives to farmers to reduce production costs and increase supply. It can also help reduce prices by increasing efficiency addressing food insecurity and improving the economic conditions of Benue farmers.
