INVESTMENT OPPORTUNITIES

Posted by on 1/29/2003 12:59:58 PM
Post Comment INVESTMENT OPPORTUNITIES Nigeria

Economic Climate:

Benue State is, in many respects, a land of unlimited opportunities for investment. At the moment, the state is generally poor, largely as a result of low level of capital investment and dearth of entrepreneurs. Industries are few and the majority of the nonagricultural workers are civil servants.

However, the state government has a policy of encouraging prospective investors through incentives and industrial layouts. Among these, are the establishment of an industrial layout in Makurdi, which is served with paved roads, water, electricity and telephone. Similar layouts are planned for other major centres.

Other government establishments include the Department of Commerce and Industry, Benue Investment Company and Benue Chamber of Commerce. Though the urban population is small, it is supplemented by a large rural population with an organised network of commodity distributors and retailers. There are over 100 periodic rural markets in the state connected by all season earth roads for easy marketing and evacuation of goods.

Industrial Potentials:

Benue State has abundant cheap labour, land, raw materials, urban infrastructure, but insufficient capital. The few industrial establishments in the state include Benue Cement Company PLC, Taraku Mills Ltd., Benue Roof Tiles Company, Benue Breweries, Benue Burnt Bricks Company, CocaCola Co., Benro Packaging Co., and AgroMillers Ltd. These provide finished products and raw materials for other possible industries.

Industries under construction or consideration include a second Cement Company at Mbatyav, a Fruit Juice Factory at KatsinaAla, a Fertiliser Blending Plant at Makurdi, a Furniture Factory and Plastic Factory at Makurdi. There are huge deposits of mineral salt in Guma and Logo LGAs which can form the basis of a salt industry. The availability of feldspar and wolframite in the state, also makes the establishment of industries for the manufacture of glass and electric bulbs viable ventures.

Based on the study by the Benue State Department of Commerce and Industry, other possible smallscale industries for the state include paper conversion, leather and plastic footwear, manufacture of knots, bolts, nails, locks, metal containers, etc. Agricultural products, such as grains, tubers, nuts, fruits, livestock and fisheries, provide raw materials for the establishment of agroallied industries such as flour processing, meat canning, juice extraction,




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