INVESTMENT OPPORTUNITIES

Posted by on 3/3/2003 9:53:39 AM
Post Comment INVESTMENT OPPORTUNITIES Nigeria

Economic Climate: Aware of the need to attract investors to the state to develop its vast resources, the Plateau State Government has set up the Plateau Industrial Development Authority (PIDA) to serve as a link between it and the business community. In pursuit of government policy, PIDA offers the following incentives to prospective investors in the state: the development of industrial estates in each LGA.

facilitating the timely issuance of certificate of occupancy of industrial or business sites, waiver of fees in respect of land transactions involving new businesses, granting the option of conversion of compensation for land to equity shares in new projects to customary owners of the land involved, exemption of new businesses from property rates for a specified period and allocation of a large sum of money (N3 million at the outset in 1986) annually to support agro-allied industries.

Industrial Potentialities: The abundant agricultural and mineral resources in Plateau State provide a solid base for the rapid industrialization of the state, industries which can be profitably established using local raw materials are food processing, beer and beverage industries utilising wheat, barley, maize, irish potatoes, yam, fruits and vegetables produced in the state; milk and milk product industries based on modernised livestock rearing on the Jos Plateau.

There are also local raw materials to support building material industries such as clay bricks, ceramics, tiles, glass, steel and metal sheets. There are opportunities as well for the expansion of the production of animal vaccines, bottling of spring water, pharmaceuticals, cosmetics and toiletries in the state.

While the existing transport and communication infrastructure provides a basis for the development of the state, there are still enormous investment opportunities in this sector to increase the rate of development of the State. The areas of investment with great promise are in increasing with the volume of vehicles on the roads, the production of more newspapers in local languages and the expansion of telephone facilities in the state. Given the numerous tourist and recreation sites

in Plateau State, there is ample room for the private sector to profitably invest in tourism and recreation in the state, especially in the development of sites, accommodation and running of regular package deals of international standards.




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