Major natural Resources in Benin Republic

Major natural Resources in Benin Republic


(smiles…) Hello, welcome to Biogreat Tv, if you’re
new here please subscribe and turn on the notification so you don’t
miss our next video. Major natural Resources in Benin Republic Benin Republic is a country in West Africa. It is bordered by Togo to the
west, Nigeria to the east, Burkina Faso and Niger to the north. The capital of Benin is Porto-Novo, but the
seat of government is in Cotonou, which is the economic capital and
largest city in the country. Benin was formally known as Dahomey in the
colonial and post- independent era. Dahomey (actually Dan-ho-me) translates into
“on the belly of Dan”; Dan was a rival king on whose
grave the royal compound of the kingdom of Dahomey was built. However the name was changed on the 30th of
November 1975, to Benin, after the body of water on which the country
lies—the Bight of Benin. This had been named by Europeans after the
Benin Empire in present-day Nigeria. However, the country of Benin has no connection
to Benin City in modern Nigeria. Present-day Benin Republic is located in an
area that used to be called the “Slave Coast” due to the thriving slave
industry which lasted for over three hundred years in the region. Thankfully, the dark era of slave trade has
long past. Now, Benin like the
rest countries of the world, looks to more humane and acceptable ways of
income generation. One of such ways is agriculture. Agriculture accounts for a large chunk of
the natural resources found in Benin. Due to very favorable weather conditions,
Benin is self-sufficient in food crops. The main food crops are manioc, yams, corn,
sorghum, beans, rice, sweet potatoes, pawpaws, guavas, bananas, and coconuts. Production estimates for some food crops for
1999 were yams, 1,771,000 tonnes; manioc, 2,377,000 tonnes; corn, 823,000
tonnes; sorghum, 154,000 tonnes; rice, 36,000 tonnes; dry beans,
94,000 tonnes; sweet potatoes, 67,000 tonnes; and millet, 34,000
tonnes. Palm products used to be Benin’s foremost
export crop for a long time. Palm oil production was 10,000 tonnes in 1999
and palm kernel output was 14,000 tonnes. The government manages about 30,000 hectares
of palm plantations, while the country has over 400,000 hectares of natural
growing palms. In recent years however, focus has shifted
from palm to cotton as Benin’s major cash crop. Cotton accounts for over 40% of the country’s
Gross Domestic Product (GDP). Benin is one of the largest producer of cotton
in Africa, occupying the fourth position among the continent’s
largest producers. An estimated 80 percent of the country’s
annual export is from cotton. When the cotton industry which was under the
control of the government, began experiencing major difficulties, the
government in a bid to remedy the situation, transferred the management
of cotton to a private entity known as AIC. This proved to be a masterstroke as cotton
production soared in the following years. Between November 2016 and June 2017, a total
of 0.453 million tons of cotton was produced in the
country, which was one of the highest records ever in the country. Fish is another important resource that Benin
is rich in. They have a long
coastline along the Atlantic Ocean, and this coastline has one of the richest
fishing spots in the region. Also Benin’s abundant rivers and lagoons
are equally important sources of fish. In 2003, fish exports from the country were
estimated to be about 41,900 tons, which amounted to about $1.9
million and accounting for 2.8 percent of agricultural exports. An interesting twist to Benin’s fishing
industry is the fact that the notable players in the industry are from other African
countries like Senegal and Ghana. Majority of Benin nationals who practice fishing
do so only on a small scale. Benin like her close neighbor Nigeria, also
has deposits of crude oil. Offshore oil was discovered in 1968 and Production
commenced in October 1982, operated by Saga Petroleum,
a Norwegian company. The 1980s were the golden period in Benin’s
oil industry. Production
peaked in 1986 when the country was churning out 8,000 barrels of oil per
day. By 1991, Benin had risen to become a major
player in Africa’s oil industry, with an oil production of 1.3 million
barrels. Oil had become one of the country’s chief
export commodities with the country exporting a total of 1.27 million
barrels in 1990. However, owing to the fact that the country
has no functional refinery, there is heavy reliance on imported refined
oil products. The domestic demand for petroleum products
stood at over 12,000 barrels each day in 2002. For a country endowed with abundant deposits
of oil, it was a major setback when production started declining
in the early 2000’s and ceased completely in 2004. It wasn’t until a decade later in 2014 that
oil production resumed in the country. The abundant oil deposits found in Benin’s
offshore sites make the country attractive to major players in the oil industry. Which have we missed out of these resources? Let’s know in the comment
section. Will it be ridiculous to subscribe to our
channel? If no, please like this video,
share and subscribe to our channel.

Posts created 37672

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Posts

Begin typing your search term above and press enter to search. Press ESC to cancel.

Back To Top