INVESTMENT OPPORTUNITIES

Posted by on 1/29/2003 1:09:20 PM
Post Comment INVESTMENT OPPORTUNITIES Nigeria

Economic Climate:
Borno State is a virgin area for industrialisation. It has a lot of potentials for investment and development in agriculture (crops and animals), in agrobased industries and other light and medium industries. The state has never had any major ethnic or religious convulsionhence its logo: "Home of Peace." To promote industrialisation, the Bomo State Investment Company was set up by the state

It has vital information such as feasibility studies, techoeconomic data, linkage potentials, markets, demand, appropriate technology and labour requirements on all the identified potential industries. The company is authorised to establish contact with local and foreign investors, assist in negotiation of licensing arrangements and is willing to enter into partnerships with both indigenous and foreign investors to set up joint ventures. This arrangement is helpful in making the economic climate better known to investors, both within and outside the state.

. Industrial Potentialities:

1. Agrobased Industries:The industrial potentials of the state can be classified into five categories, Sorghum, millet, maize, groundnut, water melon, tomatoes and rice are produced in many parts of the state. Small and mediumsized industries will help to eliminate postharvest losses, thereby contributing to the reduction of food imports. Markets for these products also abound in neighbouring countries.

2. Canning Industries: The state is a major producer of tomato, water melon, cattle, sheep, goats and fish. A total tomato puree industry will be viable as the Vegfru factory at Dadin Kowa is incapable of absorbing fresh tomato produced during the dry season through irrigation. Meat and fish canning and refrigeration will be viable ventures as many livestock from neighbouring countries and fish from Lake Chad have to pass through the state to markets down south.

3. Leather Industry:Hides and skins are abundant in the state. Industries that manufacture bags, shoes, etc., will have enough raw materials if established

. 4. Metal Industry: There are enough iron ore deposits in two LGAs to supply enough iron to a medium sized foundary.

5. Others:Limestone, clay, kaolin, mica, gypsum, potash and silica sand are found in many parts of the state. Various industries using these materials will be viable if established.

 




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