Natural resources abound in the State. Some of the natural resources include: Hardwood and Timber, Limestone, Marble, Lignite, Crude oiGold, Clay, Kaolin, Granite, Agriculture Agriculture is the mainstay of the States economy. Many of the rural dwellers are farmers and produce such cash and food crops like cocoa, rubber, palm trees, vegetables, cotton and rice, maize, yam etc. These crops grow virtually in all parts of the State. The State government recently launched an initiative to develop the agric sector into a multi- billion naira business to create jobs and further expand agricultural enterprises in the State Industry Small and medium scale businesses, using available raw materials are prevalent in the State. Wood carving, saw milling, rubber processing, cement manufacturing, brewing and flour milling manufacturing of consumers goods are some examples ( small and medium businesses in Edo State. Major industrii include Bendel Feed and Flour Mill, Okpella Cement factor Bendel Brewery, Guinness Nigerian PIc, and Ed Pharmaceuticals, Okomu and Pres co PIc. Population and People The population of Edo State by 2006 censu figuress W2 3,218,332. The population figure consisted of 1,640,461 malt and 1,577,871 females. However, the current populatio projection of the State is about 5 million. The major tribes in the State are Bini, Esan, Owan and Afemai. Education Edo State is one of the most educationally advanced States Nigeria. The State has two government owned and three privat Universities, two government owned and two priva Polytechnics and many other certificate and profession instutions. Public primary and secondary schools across the three Senatorial Districts of the State now have facilities that compare to those in advance countries. The implication of th above for investment is that the supply of middle and high level skilled labour has been enhanced. Arts and Culture Edo state is a foremost centre for arts, crafts and festivals in Nigeria. Benin City, the State capital is known worldwide as a Famous treasury of works of art. Plaques, masks etc. Handicrafts like pottery, utility carvings, mats, jewelries, clothes and iron works are also economically valuable works of arts in the state. The major religions of the people are Christianity, tale Islam and African traditional religion Infrastructure Edo state government understands the importance of functional infrastructure in any investment promotion. The provision of massive infrastructure in the State is therefore meant to abate the cost and risk of doing business. Roads The construction of dual carriage and state of the art roads and the rehabilitation of existing ones are meant to ease the movement and enhance economic activities in every parts of the State. Every part ofthe State is now easily accessible from Benin City, the State capital. Water Edo state government recently acquired three water drillimand this has made water to be available in places like Ekpoma Uromi and Ubiaja etc in Edo central senatorial District and places where portable water was hitherto not availabl domestic and industrial purposes. The acquisition of the rigs in addition to other water st sources like Okhoro and Ojirami dams etc, make portableto be abundant in every part of the State. Power The main source of power in Edo State is the Power Holding Company of Nigeria (PHCN), which supplies power for industrial and domestic uses. However, the coming on stream of an IP Plant at Ihovbor, Benin City will enhance stable p supply for industrial uses. Airport and Seaport An airport is located in Benin City, the State capital. There are also seaport facilities in Warri and Sapele in the neighbouring Delta state which is less than an hours drive from Benin City. In additionally, there is a potential for the development of a seaport and an Export free zone at Gelegele in Ovia North East local government area of the State. Hospitality Edo State has a vibrant hospitality industry. Visitors are always at home anytime in the State. INVESTMENT POTENTIALS The strength of Edo State lies in both natural and man-made assets and this has placed the State in an advantageous position in the development process. Highlights of the States potentials are presented below: OIL AND GAS: • Edo State is an oil producing State.Edo South senatorial District has huge reserve of petroleum. • Edo State at present has the second largest gas reserve in Nigeria ( Oben gas field) in Orhionmwon Local Government Area. SOLID MINERALS • The State is blessed with a wide range of solid minerals u commercial quantities and these include: limestone marble, Kaolin, gypsum, feldspar, glass sand,lignite pyrite, granite, dolomite, gem stones, galena, calcite phosphate, tantalite, mica, shale, ferrous sandstone an talc. AGRICULTURAL PRODUCTS Edo State is an agrarian State. Agriculture plays a critical role in its economy. The State has good vegetation, soil types, adequate rainfall and diverse ecology. It also has an arable land of about 2 million hectares , over 25 farms service centers and more than 500,000 farm families. A few crops hitherto grow in the wild are now being domesticated . for possible commercializaticn are; Alanblachia Florbunda (rich in edible non cholesterol oil) and Cashew. The State is richly endowed with wood and forestry resources. In livestock development, the state has a great potential for commercial production of snail and shrimp in the coast line, as well as poultry and pig. Huge market exists for livestock and animal products. The semi savannah climate to the northern part of the State specifically areas like Auchi, Igarra and Ubiaja are suitable for livestock such as sheep and goat and cattle. The present livestock population in the State is estimated at Poultry ,6,000,000, Cattle 78,000, Goat 556,000 Sheep 278,000, Pigs 189,000 while, cane rats (grass cutter) and snail rearing are in commercial production. Very huge opportunities exist in this sub-sector .. ARTS AND CULTURE • The world acclaimed Benin bronze and art works are domiciled in the State. This creates an opportunity as a major tourist attraction. • The recreation and tourism industry has become a big industry in the State. Currently, there are over 100 tourist centre in the State. • Among the Recreational and tourist sites is the great Benin moat (UNESCO World Heritage Site). The existence of Ogba Zoological garden/park, the Okomu game reserve and other tourist sites in the State are added advantage for investment in this sector
Posted on: Tue, 19 Nov 2013 06:27:58 +0000
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