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Akwa Ibom State actively promoting investment in agriculture
Thu, 19 Mar 2009 06:17

Region
Akwa Ibom
Nigeria

Sector
Agriculture & Agri-processing

Summary:
Investors have the opportunity to invest in Akwa Ibom State's agriculture sector, especially in the production and processing of cash crops such as oil palm, cocoa and rubber, as well as food crops like cassava and rice.
Contact
Akwa Ibom Investment and Industrial Promotion Council

Email
akiipoc@akwaibomstategov.com


Investors have the opportunity to invest in Akwa Ibom State's agriculture sector, especially in the production and processing of  cash crops such as oil palm, cocoa and rubber, as well as food crops like cassava and rice.

The state government is determined to develop agriculture to accommodate food supply and the employment needs of the area.

The present administration has, in response to the observed needs of the state's agricultural sector, put in place policies and programmes that are bound to change the sector for the better in Akwa Ibom State while also having positive impacts beyond.

Investment Opportunities

Food Production:

  • Commercial production of rice, cassava, plantain/banana, ginger and vegetables
  • Processing and packaging of food crops

    Tree Crop Production:

  • Large-scale production of tree crops: oil palm, cocoa, rubber, coconut, and African pear
  • Manufacture of craft goods from agricultural raw material piassava, raffia fibre, palm fronds, coconut shell and husks
  • Processing of crop product into industrial raw materials: fronds and seed oils, starch, rubber crumbs, cocoa beans, palm wine, copra etc. Down stream products could be vegetable oils, soap/detergents, livestock feeds, beverages, tyres/tubes, shoes, carpets, etc.

    Livestock Production/Veterinary Services:

  • Intensive production of poultry and pigs for the meat market
  • Processing and packaging of meat, especially pork for export
  • Conversion of slaughterhouse raw materials e.g. bone, blood, ingesta into commercial products e.g. animal food, drugs, cleansing agents

    Fisheries:

  • Commercial production of crayfish (shrimps, prawns), bonga, shark skin/fin, tuna, catfish etc. through trawl fishing

    Climate

    Akwa Ibom State has a tropical climate marked by two distinct seasons – the dry season (November – March) and the wet season (April – October). The wet season is usually interrupted by a short dry spell in August. Annual rainfall is 2 200mm in the north of the state and 3 500mm in the south. Average temperature range from 23°C to 31°C.

    Incentives

    The state government is offering a number of incentives to attract and sustain investment:

  • Free land and title deeds
  • Access to research studies in various fields
  • Tax holidays
  • Capital allowances
  • Easy repatriation of profits.

    These incentives are further enhanced by the Federal Government's incentives, mainly in the areas of taxation, fiscal policies and guarantees.

    Investors interested in any of the above opportunities should contact the Akwa Ibom Investment and Industrial Promotion Council (AKIIPOC) at akiipoc@akwaibomstategov.com

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