Akwa Ibom
Nigeria
Sector
Aquaculture & Mariculture
The Akwa Ibom State Government is inviting investors to consider the potential in the state's fishing and aquaculture industry.
Akwa Ibom has a coastline of 129 km and is endowed with mangrove swamps, rivers, creeks and flood plains. All of these offer great opportunities for trawling for fish and shrimps, fish processing and canning industries, fish meal production, fish oil and glue industries.
The relatively untapped fishery potentials of Itu, Uruan, Ibeno and Ikot Abasi offer abundant investment opportunities.
The main species are catfish, sharks, sardines, croaker, bonga, barracuda, shrimps, crayfish, snappers, bivalves and periwinkles.
A federal government-owned fishing terminal exists at Ebughu with facilities for dry docking and bunkering, berthing and discharge of fishing trawlers, and for the sorting, processing and packaging of fish for export.
Reasons to invest in Akwa Ibom State
Location: Akwa Ibom State is positioned midway between the two port cities of Calabar and Port Harcourt, and has unlimited access to the world either by air or by sea. The state is also served by three export free zones.
Market: Nigeria, with a population of close to 150 million people, is a lucrative market for seafood. The country enjoys favourable trade relations with all ECOWAS (Economic Community of West African States) members. Export opportunities to Europe and the US also exist.
Labour: With a population of four million people, Akwa Ibom State has an abundance of skilled and unskilled labour.
Political climate: Since the return to democracy in 1999 Nigeria's political climate has stabilised dramatically. Although the country still has a way to go there is a general consensus that civilian rule is here to stay.
Incentives: The Akwa Ibom State Government is offering a number of incentives to serious investors in the state. These include the provision of infrastructure and special tax holidays and deductions.
For further information on this opportunity contact TradeInvestNigeria at infonigeria@gan.co.za
