Enugu - Economy

Economy

See also: Economy of Nigeria

Nicknamed the Coal City, Enugu's economy in the early 20th century depended on coal mining in the Udi plateau; this industry was the pushing force towards the city's growth. The Nigerian Coal Corporation has been based in Enugu since its creation in 1950 where it controlled coal mining. With the creation of the Eastern Line, Enugu was connected with the sea via Port Harcourt to its south and later connected to the city of Kaduna to Enugu's north. The Biafran war brought widespread devastation that forced a decline in coal production from damage or destruction of equipment. As of 2005 coal mining is no longer the major source of income and mines lay unused. Other minerals mined in Enugu include iron ore, limestone, fine clay, marble, and silica sand.

In Enugu most goods are sold in open markets or by street hawkers; a significant number of street hawkers in Nigeria are children. As of 2003, around 44 under-16-year-olds (equally boys and girls) hawk on every street on every hour in Enugu. There are three main urban markets in Enugu: Ogbete Market, Awkunanaw Market and New Market. New Market is a major market for the sale of garri. Ogbete market is patronised by merchants from all over the surrounding area, including merchants from cities like Onitsha, Aguleri, Abakaliki and Aba. In Ogebete market non-food goods are also sold. Brewing and soft-drink bottling are among other industries in the city; there is also a Mercedes assembly plant as well as the production and manufacturing of machinery, pottery, tiles, steel, cement, asbestos, petroleum, and pharmaceuticals. For a period of time Sosoliso Airlines had its head office on the grounds of Akanu Ibiam International Airport in Enugu.

The former Eastern Region was once famed for producing half the world's total output of palm kernels. Since the Nigerian-Biafran War production has markedly declined largely because the plantations and processing equipment were either damaged or destroyed. The production of other important cash crops such as cocoa, groundnut and groundnut oil, rubber, cassava, cotton and cotton seed and timber tumbled after the civil war and the subsequent oil boom years. Consequently, the area called Enugu State as well as the rest of Nigeria, which was once a self-sufficient net exporter in agricultural produce, must import food.

Read more about this topic:  Enugu

Other articles related to "economy":

Iran–Iraq War - Home Front - Iran - Economy
... The war furthered the decline of the Iranian economy that had begun with the revolution in 1978–79 ...
Scotland - Economy and Infrastructure
... Scotland has a western style open mixed economy that is closely linked with the rest of Europe and the wider world ... Traditionally, the Scottish economy has been dominated by heavy industry underpinned by the shipbuilding in Glasgow, coal mining and steel industries ... focus towards a more service-oriented economy ...
Quincy, Massachusetts - Economy
... During its history Quincy has been known as a manufacturing and heavy industry center, with granite quarrying dominating employment in the 19th century and shipbuilding at Fore River Shipyard and Squantum Victory Yard rising to prominence in the 20th century ... The recent decades have seen a shift in focus to several large employers in the financial services, insurance and health care sectors of the economy ...
Great Depression - Causes - Demand-driven - Keynesian
... that lower aggregate expenditures in the economy contributed to a massive decline in income and to employment that was well below the average ... In such a situation, the economy reached equilibrium at low levels of economic activity and high unemployment ... simple to keep people fully employed, governments have to run deficits when the economy is slowing, as the private sector would not invest enough to ...
Katanga Province - Economy
... Copper mining is an important part of the economy of Katanga province ... Cobalt mining by individual contractors is also prevalent ...

Famous quotes containing the word economy:

    Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.
    Henry David Thoreau (1817–1862)

    It enhances our sense of the grand security and serenity of nature to observe the still undisturbed economy and content of the fishes of this century, their happiness a regular fruit of the summer.
    Henry David Thoreau (1817–1862)

    Wise men read very sharply all your private history in your look and gait and behavior. The whole economy of nature is bent on expression. The tell-tale body is all tongues. Men are like Geneva watches with crystal faces which expose the whole movement.
    Ralph Waldo Emerson (1803–1882)