Public Enterprise and Socio-economic Development in Makurdi Local Government Area: A Study of Benue Investment and Property Company Limited (BIPC)

Abstract

This study examines the impact of Benue Investment and Property 
Company Limited (BIPC) on the socio-economic development in Benue state. The study was anchored on classical management's theory. The method adopted in this study was a survey design with questionnaire and interview as the major sources of data collection. Findings from the study revealed that, BIPC has made modest effort in providing infrastructural facilities in Benue state. However, bulk of the infrastructural facilities are in the area of estates and hotels. The study further revealed that BIPC has encountered several challenges in delivering on its mandate of stimulating the socio-economic development in Benue state. The challenges identified in the study include lack of proper investment placements, paucity of investment funds, low returns on investments, lack of transparency, improper job placements, high cost of operation, lack of sufficient working tools and many others. The study in line with the findings recommended among others things that, the company should 
diversify to other areas like sanitation facilities in the state, should 
improve in the area of employment generation to the teeming 
unemployed youths through the provision of skill acquisition centers across the three senatorial districts in the state. The study recommends that graduates from these skills acquisition centers should be given soft or interest free loans to establish their businesses among others.