Imo State is a natural location for a variety of industrial activities due to the availability of natural resources. Its large market, skilled and resourceful manpower, mineral and agricultural products for industrial processing are great potentials for profitable investment. Numerious opportunities exists in the industrial sector such as:

Oil & Gas

Imo State is one of the few states in the country where crude oil is found. The state has large quantities of crude oil and gas deposits. There are currently over 163 oil wells at 12 different locations. The main petroleum companies operating in the region are Addax, Chevron, Shell and the Nigeria Agip Oil Company. Many opportunities in oil and gas production have still not been fully exploited.

Investment opportunities in the Oil Industry and Natural Gas is available in Imo State in large and commercial quantities and offers inherent opportunities for would be investors in gas production, transmission and distribution.

Opportunities exist in the following areas:

● Crude Oil prospecting/exploration and production
● Establishment of oil Refineries
● Establishment of Petrochemical industries
● Establishment of Mid-Stream Gas Plants
● Investments in Independent Power Plant for utilization of abundant, associated and non-associated gas in the State, which are being currently flared
● Maintenance of sustainable environment
● Establishment of fertilizer urea plant

POWER & ENERGY

The shortage in power supply in Nigeria cannot be understated, although power problem is a national phenomenon. Presently supply of power by Power Holding Company of Nigeria plc (PHCN) to Imo state is between 12 and 18 mw which is generally rationed.

A number of state governments, including Imo have embraced the concept of Independent Power Plants and Renewable Energy solutions in the following areas:

(i) Independent Power Plants (IPPs) that feeds into the national grid
(II) Captive power generation to service industrial layouts and confined commercial and residential estates.
(III) Investments in renewable energy power solution, including manufacture or assembly of solar panels, power inverters, and bio-fuels.

Other investment opportunities in the power and energy industry include:

(a) Production and marketing of Compost Fertilizer
(b) Recycling and re-processing of Solid Waste
(c) Production and marketing of Biogas
(d) Manufacture of Urea:

MANUFACTURING

The manufacturing sub-sector has been growing in recent times in direct response to various interventions/programmes implemented by government. Consequently the state government plans to tranform Imo to an industry driven economy. Some of Imo important manufacturing industries that require private sector participation include:

1. Extraction of mineral based raw materials like Limestone, clay, shale, Kaoline, lead/zinc Ore, gravel (crushed lateritic sand), lignite, gypsium, black marble and glass sand.

2. Extraction of agro based raw materials like Cocoa, Oil Palm, Rubber, Cashew, Citrus Fruits, Cassava, Maize, Plantain/ Banana, Palm-wine Palm-tree, Pineapple, Melon, Poultry, Pigs/Goats, Bamboo.

Imo State has opportunities in manufacturing and cottage industry like:
● Chemical plants,
● Brewery plants,
● Hydroelectric plants,
● Fired power plants,
● Gas,
● Grain mills,
● Starch production,
● Cashews,
● Fruit and Vegetable juice concentrate production,
● Integrated multi-oil seed processing plants,
● Ceramics & tiles,
● Palm produce industry,
● Beverages,
● Cement,
● Food processing,
● Textiles and detergents.

CLAY PRODUCTS LIMITED (DPL) EZINACHI OKIGWE

Imo is blessed with natural raw materials for manufacture of roofing, wall and floor tiles. In 1979 Clay products Limited (DPL) Ezinachi Okigwe was incorporated to carryout the business of manufacturing of bricks, tiles, pottery and earthern ware of all kinds.

The production capacity of the plant is put at 30 million of various types of burnt bricks. The major raw material clay is in abundant supply at the factory site. This was the major consideration in locating the project at its permanent site.

The factory was shut down since 1991 as a result of management problem and lack of working capital. Bricks revolution which the Clay products Limited sets out to accomplish in the State is very relevant especially as cements are selling at unfavourable prices.

The project is slated for privatization and interested investors are requested to come forward to negotiate with the State Government.

NSU TILE INDUSTRY LIMITED – NSU

Nsu Tile Industry Limited – NSU is an Imo factory that manufactures roofing, wall and floor tiles. The plant for the factory has a rated capacity of 600,000sq. metres of 12,000 tonnes of floor 3 wall tiles per annum. The site measures about 8,820 hectares and certificate of occupancy obtained. About 80% of the materials needed to set-up the factory building are available.

The project has great prospect if it can be realized through privatization. The raw materials are locally available and there is extensive market for the product among the building industry.

INVESTMENT INCENTIVES

Government has deliberately designed investment incentives to support private sector participation in the sector. While some of these incentives are in form of tax holiday, exemptions, and reliefs, there are many more that leverage on specific government policies, performance of the companies as well as relevant international investment treaties. Some of these are:

● Income tax relief for a period of three years and which can be extended for a period of one year and thereafter another one year or for one period of two years – Pioneer Status Incentives
● Zero Import Duty: Zero percent import duty tariffs (custom, excise and value added) for import of agricultural equipment and agro-processing equipment.
● Exemption of interest from tax on loans granted to agricultural activities.
● Avoidance of double taxation agreement which eliminates double taxation with respect on income and capital gains.
● Investment promotion and protection agreement provides reciprocal baseline protections for investments.

WHY YOU SHOULD INVEST IN IMO

● Availability of arable land across the country including 3.14 million hectares of irrigatable land;
● Favourable weather conditions that support all-year-round agricultural activities;
● Known and mapped-out soil characteristics across the country to guide crop cultivation;
● Supportive government policy that is geared towards encouraging mechanized farming and agribusiness; and
● Huge demand gap between the supply of agricultural produce and the industrial activities.