AGRICULTURE

Nigeria’s landmass of 98.3milion hectares has 72 million cultivable hectares under cultivation. Over 70% of  Nigeria’s estimated population of 140 million is engaged in agriculture. it accounts for over 38% of the non-oil foreign exchange earnings and about 41.2% of Gross Domestic product(GDP).In view of the involvement of a large proportion of the population in agriculture, the possibilities for its increased impact on export revenue, agriculture remains a top priority of the Nigerian government.

As Nigeria’s socio-economy reforms begin to attract more private sector participation in the industrial/manufacturing sector, industrial / manufacturing sector, industries with the following profiles shall be on the government’s priority list.

•  Industries sourcing raw materials locally;
• Industries supporting food production;
• Industries with multiplier effects such as flat sheet mills and machine tools;
• Industries involved in the transfer of high technology;
• Research projects in areas of adaptive technology and commercialisation of local inventions

Nigeria is blessed with a wide Variety of solid minerals, located in various parts of the country. These minerals, exploited in commercial quantities,locally,include:Talc,iron ore,lead/zinc,benonite,barite,Gold,bitumen,Rock salt,Gypsum,Coal,Tantalite,Diatomite,Marble,Glass,Gemstones.

To attain its objective of reducing the economy’s reliance on oil, the government has initiated a new National Policy on solid Minerals, designed to promote investment in the sector. in this regard, licences and procedures for investment in mining by genuine investors have been eased and streamlined.

Government has deregulated the Energy sector in order to allow full private sector participation in power generation, transmission and distribution. Power holding company Nigeria (PHCN) is being split into 18 companies. along functional lines of generation, transmission and distribution, as a prelude to its privatisation. Investors are being invited to seize the opportunity to build, own and operate and / or transfer independent electricity.