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Transcorp Opens N 1 Billion Fruit Juice Factory in Benue

By on March 14, 2012

A leading conglomerate in Nigeria, Transcorp Plc, has launched a 26,500 metric tonnes per annum orange and mango juice concentrate factory in Benue state.

The venture monikered Teragro is located at the Makurdi Industrial Layout area of Benue State. It was financed by a consortium of banks including UBA Plc, First Bank and Wema Bank amongst others.

The President, Goodluck Jonathan, joined other dignitaries to commission the factory last weekend.

Speaking at the event, the President said, “Let me sincerely thank Governor Gabriel Suswam for the enabling environment he has created here because no matter what we have in each states of the federation, if there is no peace and security, nobody will want to come and invest.

“If you spend billions of dollars to build a factory and one day, one man blows it up, nobody wants that. So, I thank the Governor for working hard to maintain peace and security in this State that has attracted private sector operators like Transcorp.”

The President encouraged governors to look inwards for growth opportunities instead of depending solely on oil.

“Before oil, our economy was sustained by agriculture. We even fought a civil war without borrowing money.  There are resources in every state of the federation and the governors will do well to look inwards and see what they can do to generate income rather than depending on oil revenue,” he added.