Benue State, located in the North-central region of Nigeria, is a land of immense resources and investment opportunities.
The state is blessed with abundant mineral resources, arable land for agriculture, and tourist attractions.
It is no surprise that the state has been nicknamed “The Food Basket of the Nation.“
In this post, we will take a deep dive into the wealth of Benue State, with a focus on the richest local government in Benue State.
Introduction to Benue State
Benue State is named after the Benue River and was created in 1976, along with some parts of Kwara State and Igala.
The state is predominantly inhabited by the Tiv, Idoma, and Igede people, with other ethnic groups like Etulo, Abakpa, Jukun, Hausa, and Igbo also present. The state capital is Makurdi.
The state is known for its agricultural potential, with crops like yam, cassava, rice, maize, sorghum, soybean, and groundnut grown in large quantities.
The state is also home to vast freshwater resources and mineral resources like barites, kaolin, brick clay, lead/zinc, coal, gypsum, and salt.
Investment Opportunities in Benue State
Benue State provides ample investment opportunities in three major sectors: agriculture, tourism, and mineral resources.
These sectors provide an opportunity for investors to tap into the vast resources and potential of the state.
Benue State is known as the “Food Basket of the Nation” due to its agricultural potential. The state’s climate and soil make it possible to cultivate various crops in large quantities. ‘
Among the crops grown in the state are yam, cassava, rice, maize, sorghum, soybean, and groundnut.
Tree crops like oil palm, cashew, coconut, banana, plantain, coffee, and kolanut are also present.
Vegetables like tomatoes, pepper, pumpkin, okra, spinach, and pineapples are also cultivated.
Starting a farming business in Benue State is a lucrative investment opportunity. The state’s fertile soil and favorable climate make it possible to grow crops in large quantities.
The state’s most significant income generator is agriculture, and it boasts of the largest yam market in West Africa, the Zaki-biam yam market.
Yam and cassava are highly consumed food products in Nigeria, making them a lucrative farming business to start in Benue State.
Benue State provides an opportunity for investors to set up food processing businesses.
The state’s availability of raw materials in large quantities and cheap labor make it a favorable environment for such businesses.
However, there is a need for food processing industries and storage facilities to maximize the potential present in the state, especially for fruits that are seen to waste in large quantities.
Sales and Servicing of Agricultural Tools and Machinery
Investors can maximize this opportunity in Benue State.
Although most farmers in the state have not embraced mechanized farming, they will undoubtedly welcome such initiatives if they want to increase their production and business in general.
Benue State is a land of rivers, hills, and several tourist attraction sites. Some of the exciting places to visit in Benue State are the Benue Hills and Enumabia Warm Spring.
The Benue hills feature some of the country’s most beautiful scenery and nature, making them a perfect location for exploring and adventurous hiking for indigenes and tourists alike.
Ushongo hill and Leiv Mountain are two of the most famous hills in the state.
Enumabia Warm Spring
The Enumabia Warm Spring in Orokam Local Government Area is a representation of the mythical beliefs of the Orokam people.
The Enumabia River is regarded as the mother and protector of children by the natives, and folklore surrounding the Enumabia River is that it resettled from Uture to Oko in Orokam. The river deity is known as ‘Enumabia Okpo.’
Benue State is endowed with many mineral resources which can support many industries like barites, kaolin, brick clay, lead/zinc, coal, gypsum, and salt.
This mineral resource is useful in oil drilling, production of glass and chemicals. It can be found in Gboko, Guma, Gwer, Makurdi, and Ushongo Local Government areas.
This mineral resource is useful in the production of paper plastics, filters in plants, paints, and more. It can be found in Apa, Ogbadibo, Okpokwu, and Vandeikya Local Government areas.
This mineral resource is useful for pottery products, production of building bricks, tiles, etc. It is found in Buruku, Gwer, Makurdi, and Otukpo Local Government Areas.
This mineral resource is useful for auto battery production, paint alloys, etc. It is found in Ado, Gboko, Guma, Katsina-Ala, and Vandeikya Local Government areas.
This mineral resource is useful for energy/fuel, chemicals, etc. It is found in Ogbadibo and Okpokwu Local Government areas.
This mineral resource is useful for the production of cement, fertilizer, etc. It is found in Apa, Gboko, Gwer, Konshisha, Otukpo, and Ushongo Local Government Areas.
Deposits of salt can be found in commercial quantities throughout Benue State.
The Richest Local Government in Benue State
Benue State has 23 local governments, and the richest local government in Benue State is Makurdi Local Government.
Makurdi, which is the capital of Benue State, is the richest local government on the list with a population of about 438,000 residents.
The local government was established in 1927 and was made the capital of Benue State in 1976. It is located on the south bank of the Benue River.
Industries in Makurdi Local Government
Makurdi Local Government is home to several industries, including transportation, banks, hotels, fuel stations, restaurants, and many other sectors.
Some of the companies in the local government include Benue Brewery LTD, Benue Investment & Property Co. LTD, Bic Securities LTD, Oracle Business Limited, Benue links, Pleasure Travels, Benue Hotel, Okiki Hotel, Diplomat Travels & Tourism Agency, Dozzy Oil & Gas LTD, and more.