Adum replaces Adem at BIPC, sets to re-engineer focus in state coy

By Nathaniel Ikyur

Apparently not impressed with the current state of affairs at the state owned investment company, the Benue Investment and Property Company, BIPC, Gov Samuel Ortom yesterday, August 20, 2019 approved the appointment of Alex Ter Adum as it’s new Managing Director.

Barr Adum takes over from Alfred Adem who was in that capacity since June 2018 as the substantive helmsman.

Adum, is a lawyer and former Attorney General of Benue State under former governor Gabriel Suswam and comes in with the madate to turn the fortunes of the company in line with it’s core portfolio values.

BIPC was established in 1979 to spur economic growth of the state by deploying capital in commercial, viable and strategic business ventures that are crucial to the development of Benue State and which will be of economic benefit to her citizens.

The company’s investment module is focused on capitalization in stocks and projects that have development impact and that will provide tangible social benefits to the state.

BIPC’s core mandate includes the following:

¶ Mobilize funds for the investment and development programmes of the state

¶ Act as a catalyst for the speedy economic development of the State

¶ Engage in portfolio investment activities.

¶ Investment in property development and management

¶ Provide business advisory and management consultancy services to the giver and interested entrepreneurs in the State.

Apart from the aforementioned, the company has responsibilities to provide infrastructure, woo investors, prepare loans for Small and Medium Scale entrepreneurs and manage shares of all state owned companies and investments.

With the appointment of Adum who also has speciality in communication law, it will be good to see how he will bring this experience, connection with relevant stakeholders in the business community to bear on the fortunes of the state. It’s also expected that his coming would also galvanise the morale of the staff of the company to chart a new course in shoring up Benue’s struggling economy in a bid to achieve greatness through proper investment placements and management as well as expansion of her investments both in properties and other businesses.

Adum is married with children.

Ikyur is a journalist and writes from Abuja.