Investment Opportunities

Economic Climate

Aware of the need to attract investors to the state to develop its vast resources, the Plateau State Government has set up the Plateau Industrial Development Authority (PIDA) to serve as a link between it and the business community. In pursuit of government policy, PIDA offers the following incentives to prospective investors in the state: (I) the development of industrial estates in each LGA, (ii) facilitating the timely issuance of certificate of occupancy of industrial or business sites, (iii) waiver of fees in respect of land transactions involving new businesses, (iv) granting the option of conversion of compensation for land to equity shares in new projects to customary owners of the land involved, (v) exemption of new businesses from property rates for a specified period and (vi) allocation of a large sum of money (N3 million at the outset in 1986) annually to support agro-allied industries.

Industrial Potentialities

The abundant agricultural and mineral resources in Plateau State provide a solid base for the rapid industrialization of the state, industries which can be profitably established using local raw materials are food processing, beer and beverage industries utilising wheat, barley, maize, Irish potatoes, yam, fruits and vegetables produced in the state; milk and milk product industries based on modernized livestock rearing on the Jos Plateau.

There are also local raw materials to support building material industries such as clay bricks, ceramics, tiles, glass, steel and metal sheets. There are opportunities as well as for the expansion of the production of animal vaccines, bottling of spring water, pharmaceuticals, cosmetics and toiletries in the state.

While the existing transport and communication infrastructure provides a basis for the development of the state, there are still enormous investment opportunities in this sector to increase the rate of development of the state. The areas of investment with great promise are in increasing with the volume of vehicles on the roads, the production of more newspapers in local languages and the expansion of telephone facilities in the state.

Given the numerous tourist and recreation sites in Plateau State, there is ample room for the private sector to profitably invest in tourism and recreation in the state, especially in the development of sites, accommodation and running of regular package deals of international standards.

Existing Industries

Existing industries in Plateau State fall into two categories - cottage and factory industries. The cottage industries, which are widely distributed throughout the State, include black smithing for the making of simple tool, pottery, mat making and leather works. Factory industries are mostly concentrated in Jos, which is one of the leading industrial centres in northern Nigeria. There are over sixty factory/industrial establishments in Jos. They range in size, from small to very large, and depend entirely on imported machinery and a combination of local and imported raw materials for their production. These industries engage in various forms of manufacturing which include food processing, production of packaging materials, cosmetics, furniture, confectioneries, livestock feeds, detergent, beer, soft drinks, pharmaceuticals, building materials, steel and metal sheets, book publishing, tin smelting and lead materials.

Modern large-scale manufacturing industries in Jos:

• Jos Steel Rolling Mills
• NASCO
• Jos International Breweries
• Highland Bottling Company

Some of these industries have closed down, while others are operating at well below their installed capacities, as a result of the high cost of imported raw materials and machinery which followed in the wake of the structural adjustment programme introduced in 1986.

Insurance Companies

• African Alliance Insurance
• Boty-Mag Insurance Brokers
• British American Insurance
• Gateway Insurance
• Leadway Insurance
• National Insurance Company of Nigeria (NICON)
• Royal Exchange Insurance
• United Nigerian Insurance
• Unity, Life and Fire Insurance
• The Lion of Africa Insurance
• Bendel Insurance Company
• Universal Insurance Company Limited
• Rotac Insurance Co. Ltd.
• Face to Face Insurance Co. Ltd.
• American International Insurance
• Champion Insurance
• Great Nigeria Insurance Co. Ltd.
• Harmony Insurance Ltd.
• Nigeria General Insurance
• Resourceful Insurance
• Kapital Insurance
• Veritas Insurance Co.

Prospects for the Future

By the virtue of the availability of a rich natural resource base, there are bright prospects for the future development of Plateau State in the new millennium. Positive advancement can be made in developing the agricultural, industrial, solid mineral, food processing and tourism sectors, for example. This should be anchored on the practice of ecologically sound agricultural and forestry development along with local value added processing which is a key element in reducing poverty, promoting efficient management of natural resources and sustainable development.

In addition to its rich agricultural and natural resource endowment, the state can also make great advances in the use of existing abundant agricultural residues, biomass resources that today constitute health and environmental hazards. Along this line, industries, which produce and process biomass into ethanol fuel, biogas, pulp and paper, etc, can be established.

The systematic development and use of biomass resources, though little known in Plateau State of Nigeria at large, can be a catalyst for agricultural and industrial development with a bias towards small-scale economic activities (such as feed or fertilizer production from crop wastes - sugar cane, sun flower, cotton seeds or groundnut). Essentially, these ventures have great potential for improved income generation, poverty alleviation, while simultaneously serving as a strategy for promoting a safe and healthy environment.

Another important prospects for the development of the state is the tourism industry. The potentials are already on ground vis-à-vis its scenic vistas, favourable natural climate, as well as a peaceful socio-political culture, such that with adequate funding through strategic planning, a solid economic base can be built for ensuring sustainable development. Thus, it is possible to have advanced economic development in an environmentally sustainable manner through planning, adequate funding, reliable investment strategies, innovative production and efficient use of resources or facilities.

While acknowledging the enormous prospects for the development of Plateau State, realization of the dream depends on effective governance. The present government's emphasis on socio-economic re-engineering will succeed if it develops a culture of good governance that respects broad-based participation, probity, accountability, transparency and fundamental human rights of the people. It should try to match action with words, and possess the political will to forge ahead. In addition, there is a need for the maintenance of a close functional relationship between government and non-governmental organizations (NGOs), community based development associations (CBDAs), local, national and international donor agencies, development experts and the private sector.