Benue Investment & Property Company finally withdraws BENUE PLAZA from Midag Ltd.

Benue Investment and Property Company, BIPC, has formally withdrawn the Benue Plaza from Midag Limited. The property which is located on Bishop Oluwale Crescent Victoria Island Lagos was leased to Midag Limited under a lease agreement service for ten years, 2007-2017, which will lapse this year.

BIPC's General Manager Legal Services, Mr Prince Toryem and his Property Development and Management counterpart, Mr Terver Justines Wever who both represented the company during the handing over ceremony in Lagos described the exercise as timely, adding that "this has come at a time the new BIPC is restructuring and repositioning its investments for effective productivity and profitable returns to help the Benue State Govt improve its revenue generation especially in this time of economic challenges".

The Benue plaza Lagos which was established for decent accommodation and relaxation is to commence redevelopment to a standard high rise structure of about 10 storey. The Infrastructure Bank had late 2016 signed an MOU with BIPC to commence redevelopment of the property.