PROSPECTS FOR THE FUTURE

Posted by on 1/14/2003 7:44:39 PM
Post Comment PROSPECTS FOR THE FUTURE Nigeria

As the leading petroleum exporter, the future industrialisation of Akwa lbom State will depend on the growth of the Nigerian downstream petroleum sector. Already, petroleum production, including oil terminal activities and shore-base logistical support for offshore production, has attracted Exxon/Mobil and a host of oil service companies to Eket. Other viable petroleum-related investment opportunities include gas refining for Liquefied Petroleum Gas (LPG), crude oil refining, petrochemical and fertiliser production.

These industries can be located at Ibeno and Eket. To attract foreign investment, the crucial infrastructure needed is to develop Eket into a port by dredging the Qua lboe sandbar which has blocked the entrance into the Qua lboe River estuary. Dredqinq the sandbar will open the lower Qua lboe River channel to international shipping, which a vibrant petroleum industrial complex, comparable will support downstream petroleum industries at the to Port Harcourt and Warri on the western parts of Ibeno-Eket axis. Indeed, the Ibeno-Eket axis in the the delta. eastern Niger delta has the potential to develop.




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