PROSPECTS FOR THE FUTURE

Posted by on 2/10/2003 11:48:23 AM
Post Comment PROSPECTS FOR THE FUTURE Nigeria

Rivers State produces strategic minerals (especially crude oil and gas) and other agricultural products which can all be mobilised for the State's eco nomic growth and development. The present State government and the Federal Government, in their planning and development policies, both aim at pur suing a vigorous diversification of the Nigerian economy.

To this extent, the State government has created an enabling economic environment that attracts local and international entrepreneurs to the State. Firstly, the State maintains social and politi cal peace among indigenous and nonindigenous elements residing in the State through regular dialogue between the government on one hand, and the indigenous and non indigenous population residing in the State on the other.

Secondly, the State has created the Ministry of Energy Resources charged with responsibility for providing electricity in all villages and towns of the state. Thirdly, the provision of 1,000 housing units in Port Harcourt within the first six months of the present state administration, portends well for accelerated development in the State. In addition to all these, the State government has embarked on the construction of roads and bridges to link Port Harcourt with the suburban towns and villages so that trans portation will be facilitated.

Intracity roads are being reconstructed, while the Federal Government has started the construction of the BoloBonny and Emuoha Kalahari long bridges over swamps. The construction of these two bridges will open the riverine areas for economic and industrial growth and development. In addition to the TransAmadi Industrial Layout, the State government has started construction of a new industrial estate at Ahoada, so as to decongest Port Harcourt and transmit development impulses to the neighbourhood towns and villages.

Other incentives to investors and developers include tax holidays, tax relief, provision of uninterrupted portable water supply, and pioneer status scheme for newly established industries in order to survive the initial capital outlay and other related problems. With large scale industries, such as oil refineries, petrochemical, fertilizer and liquified natural gas, manufacturing companies and other oil service industries in the state, industrial and economic development of the State have a very bright future.




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