Investment Guide Imo State of Nigeria

Imo State is one of the 36 States in the Federal Republic of Nigeria, with an administrative structure of 27 Local Government Areas (LGAs) and 36 Development Centers.

The State has a total land mass of 5289.49 sq. kilometers with an estimated population of about 4.8million people, who are generally enterprising and hospitable.

Imo State occupies a strategic location as the Heartland of the Eastern Region of Nigeria with Owerri as its capital. The State enjoys proximity to many of the neighboring states’ metropolitan markets including Port Harcourt, Onitsha, Enugu, Abakaliki, Yenagoa, Calabar and Uyo.

The governor of the of Imo state of Nigeria is  his excellency Owelle Rochas Okorocha.

The State has an International Cargo Airport in Owerri, and enjoys access to the seaports of Port Harcourt and Calabar. The Clean and Green Initiative of Governor Ohakim’s Administration has raised the investment potential of the State as a tourist center and investment haven within the South Eastern Region of Nigeria.

HOUSING

Housing and urban development is a priority area of Government, to provide affordable housing for the citizens. A Bureau of Housing and Urban Development was set up to liaise with reputable developers to partner with the State Government in the development of quality and affordable houses for Imo State citizens. Government thrust is to provide shelter for Imo citizens, stimulate wealth creation and develop the real estate market.

AGRICULTURE

Imo State is recognized as one of the rice and oil palm producing States in Nigeria, notwithstanding the fact that most farming practices in the State are done at subsistence levels.

The State has vast arable farm land located at Ideato, Oguta, Ihitte Uboma and Ohaji Egbema local government areas for rice and oil palm cultivation and production. Investors are being invited in the area of rice and Palm oil production and processing.

INFORMATION TECHNOLOGY

Imo State is one of the first States in Nigeria to wholly grab the new developments in the area of Information Technology. The Information Technology and telecommunication markets are fast growing making it one of the most attractive investment areas. Imo State welcomes investors in the area of information technology, and communication.

FREE TRADE ZONE

The State Government is anxious to attract investors interested in its general purpose free trade zone in the State to quicken the pace of industrial development and enhance employment opportunities. There is no free trade zone in the whole of South East Nigeria.

TOURISM

Imo Wonder lake Resort and Conference Centre is one of the most ambitious projects embarked upon by the State government of Nigeria. Located around the blue Oguta lake, Imo Wonder lake Resort is intended to be a premier conference / events, tourist / recreational destination, with golf course, amusement parks and other Disney world class facilities.

INFRASTRUCTURE

one of the policy thrusts of the Imo State Government of Nigeria is rapid development of infrastructure, with particular emphasis on water, electricity, transportation, solar energy.

OIL & GAS

Imo State has large quantities of Crude Oil and Gas deposits, which have not been fully exploited. Indeed investment opportunities abound in the areas of crude oil prospecting/exploration and production, establishment of oil refineries and petrochemical industries, establishment of mid-stream gas and fertilizer plants.

MINERAL RAW MATERIALS

Imo State also has substantial quantities of diverse raw materials which have remained largely unexploited. Among the mineral resource endowments are crude oil, lime stone, clay, marble, lead, zinc, stone and coal. Most of the minerals have long lists of alternative industrial use. E.g.

1. Coal/Lignite-sources of generated energy.

2. Petroleum-oil and gas/petrochemicals, fuel

3. Limestone-cement, fertilizer, carbide

4. Silica-glass manufacturing

5. Granite stone-construction materials

6. Kaolin- clay cosmetics, pulp and paper

7. Gypsum- cement plaster of Paris, fertilizer

8. Marble-terrazzo/ceramics, cement

Source: ImoStateGov

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Author: 244OgeKweFoli153

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