Oil & Gas Resources
There are large deposits of oil and gas both on and off-shore. Plus other mineral
resources such as limestone, clay, gold, salt, coal, silver nitrate and glass sand.
Crude oil in the Niger Delta was first discovered at Ikot Akata in what is now Akwa
lbom State during the early fifties following exploration for petroleum which began
in Nigeria in 1937. Commercial discovery was, however, made at Olobiri in what is
now Bayelsa State, with production beginning in 1958. In Akwa lbom, offshore production
of crude oil, condensate and gas by Mobil Petroleum Nigeria Limited, now Exxon/Mobil,
has rendered the state the largest petroleum producer in Nigeria. The Qua lboe Terminal
(QIT) on the Akwa lbom coast is one of the largest production facilities in the
Other oil-producing companies operating offshore in Akwa lbom State
are Elf and Addax.
The climate of the state allows for favourable cultivation and
extraction of agricultural and forest products such as palm produce, rubber, cocoa,
rice, cassava, yam, plantain, banana, maize, and timber.
Given the nature of the
environment, past employment and productivity, there is no doubt that agriculture
holds the future prospects for development and employment in Akwa lbom State. At
the moment, agriculture is the most important economic activity in the state and
contributes a large percentage to the state's income that is second only to petroleum.
There are basically two types of agriculture in Akwa lbom. The first is the small-scale
peasant farming usually practised on family basis, and which produces food crops
such as cassava, maize, rice, yam and cocoyam for family consumption with the surplus
sold in the local markets. The second type of farming is the estate farming which
specialises in growing cash crops such as rubber, cocoa, rice and oil palm.
The state has one of the largest palm forest in the federation which harbours large
varieties of wildlife.
Akwa lbom State supports a wide range of tropical vegetation that guarantees forestry
as a viable economic venture. However, the dense human population in the State has
profoundly altered the natural vegetation.
Extensive clearing of the land for farming
and the exploitation of timber have virtually destroyed much of the original rain
forest cover which is now restricted to a few isolated locations of forest reserves,
"juju" shrines, and plantations. Other areas designated as "protected forests" are so-called because they are protected against indiscriminate felling of trees and clearing.
The government has embarked on forest plantations in Eket, Ikono, Oron, Abak,
ltu and Ikot Abasi. The need to increase the hectarage of plantations and forest
reserves should be stressed. The need for timber is increasing daily because of
the demand for housing construction and furniture.
The state is endowed with various minerals resources. It is the third largest producer
of petroleum in Nigeria. Other, resources include limestone, clay, natural gas,
salt, coal, giver nitrate and glass sand.
Our soil is host to a number of mineral
resources that can be commercially exploited. There are both the metallic and non-metallic minerals which have been fairly distributed across the various local
government areas of the state. A number of studies have been undertaken by the Federal
Government owned Raw Materials Research and Development Council, RMRDC, on their
uses and application. These studies are readily available to investors.
State is set for the orderly and ecologically sound exploitation of these minerals
in partnership with the private sector.
The 8, 412 km sq that forms Akwa Ibom State is endowed with enormous wealth. The
land is arable, from the saline water swamp forest in the south, to the rainforest
in the northernmost part, and supports extensive agriculture. A number of cash
crops which can be processed into primary and secondary goods are grown in the state.
They include oil palm, rubber, cocoa, kolanut, coconut, citrus cassava, yam, maize,
rice, cowpeas, plantain, banana, pineapple and gmelina. Akwa Ibom has the highest
number of oil palm tree per capita in Nigeria. A variety of tropical livestock can
also be found in the state.
In terms of marines life, its continental shelf and
the neighbouring estuaries of Cross River, Imo, Qua Iboe and Calabar rivers are
very rich in many variety of fish and other seafood including catfish, sharks, barracuda,
sardines, croaker, shrimps, crayfish, snappers, bivalves and oysters.
Akwa Ibom State is a colourful blend of people. The 4 million people come from
more than 10 ethnic groups. The multi-culture provides a unique heritage of accommodation,
warmth and understanding. Akwa Ibom people are noted for their friendly attitudes.
They are industrious, honest and single–minded; always driven by a passion to excel.
It is a carry over from the long history of interaction with the explorers who brought
education and Christianity, our principal religion.
This is a value–based society,
where honour and integrity is revered above transient gains. You will find a rich
manpower pool to help you translate your corporate visions into reality.