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.