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INVESTMENT OPPORTUNITIES

Posted by on 2/5/2003 12:55:24 PM |

INVESTMENT OPPORTUNITIES

Economic Climate: Nassarawa, which is existence due to agitations of
neglect and margin alisation. Several of its untapped resources now offer very
good potentials for economically viable and technically feasible industrial
and agricultural development projects. It has a wide range of solid minerals
and a variety of crops produced within the state.


The state is traversed by a number of Federal trunk roads and also enjoys
the services of the National Electric Power Authority (NEPA). It is con nected
to the National Grid and further supplement ed by supplies from National Electric
Supply Company (NESCO) from Plateau State.


All major towns in the state have electricity. The state lies on the eastern
border of the Federal Capital Territory, Abuja and this proximity gives it many
administra tive and commercial advantages such as quick access to Federal Ministries
and patronage in hotels and food crops. Banking facilities are also available
in all major towns in the state. Many finance houses are found in the state
(especially at Lafia, Akwanga, Kaderoko, Obi, Keana, Karu, Keffi, Nassarawa
and Wamba.


At the moment, the commercial life of the state is dominated by the operations
of the rural markets. Apart from Lafia and Karu, all other markets are periodic,
including Keffi and Akwanga markets. Table 25.5 provide a list of the major
markets operating in the state.


voir of secondary school leavers who can easily be employed as semiskilled
workers. Certain spe cialised skills may not be adequately available, but can
be engaged easily from neighbouring states like Plateau, Benue, Kogi and Kaduna.
Community clashes are not a common phenomenon within the state and therefore
the state can claim a reason able degree of peace within its borders.


Industrial Potentialities: The abundant miner al and agricultural resources
in Nassarawa State provide a good and solid base for rapid industriali sation
when the necessary financial provisions are made.


For example, the following minerals have already been listed among those that
have the prospects of being found on an economic scale; they include marble
in Toto, Awe, Lafia, and Wamba; high quality glass sand in Lafia; clay in Keffi,
Wamba, Karu, and Kokoam, baryte in Awe and Obi; precious stones in Awe and Nassarawa
Eggon, tin in Udegi.


Perhaps, the greatest attraction offered by the state is in the provision of
raw materials for agro based industries. Such industries could include various
food processing industries, beverages, beer et cetera. The state produces a
wide range of crops which include yam, cassava, corn, rice, groundnut, cowpea,
soyabeans, beniseed, melon.


The root and tuber crops such as yam and cassava provide a good opportunity
for value addition. Apart from the usual gari, flour and chips that are locally
pro duced, paste for use in pharmaceuticals as well as starch can also be produced
from cassava. It may also be profitable to encourage multipurpose factories
capable of providing high premium cassava products for export.


Oil seeds, which include soy abeans, beniseed, egusi (melon) and palm oil,
can be used to produce vegetable oil for both industrial use as well as human
consumption. Tree crops such as mangoes, cashew and oranges offer good investment
opportunities in the production of juices and jams, and can equally be processed
as sliced dried fruit or paste for exports. Cashew nuts are already in very
high demand even without process ing.


Also, tomatoes and pepper can be exported after basic transformation. Tomato
paste, in partic ular, has a high demand both locally and interna tionally.
Nassarawa State is an area where potentials for viable investment in tourism
are not in doubt, particularly in Karu and Keffi which are gateway towns to
Abuja.


The hotel industry in these towns can easily be patronised by guests who can
not afford the very expensive accommodation in Abuja. The small palm wine markets
on AkwangaLafia road which have been well patronised by travellers and city
dwellers are indicative of the existing potentials for this industry.


 


 


 






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