Benue State Revives $50M Taraku Oil Mill Project

The Benue state government is taking steps to revive the $50 million Taraku oil mill, which has been non-operational since 2009. Dr. Raymond Asemakaha, the managing director of the Benue Investment and Property Company (BIPC), disclosed this during a facility inspection.

The mill's equipment remains intact and in near-new condition due to preservation efforts by local security personnel. BIPC has initiated an asset audit to evaluate the condition of the equipment and determine the necessary investments to resume operations.

The factory previously operated at 75% of its installed capacity, producing significant quantities of animal feed and oil. Challenges such as inadequate power supply and water access have hindered operations.

The revival is expected to provide direct employment for at least 2,000 youths and generate thousands of indirect jobs in related sectors. Local government chairman Timothy Adi welcomed the initiative, emphasizing community support for restoring the factory's operations.