Owerri Municipal is a local government area in Imo State, Nigeria. As a bustling city, there are various economic activities taking place in Owerri Municipal. Here are some of the notable economic activities:
- Trade and commerce: Owerri Municipal is a major trading center in Imo State, with a vibrant market system. The popular Ekeukwu Market, located in the heart of the city, is a major hub for traders from different parts of Nigeria and West Africa. Other markets in the area include Relief, New Market, and Alaba International Market, among others.
- Manufacturing: There are several manufacturing industries in Owerri Municipal, including the Imo Modern Poultry, Owerri Breweries, and Nigerchem Industries.
- Hospitality and tourism: Owerri Municipal is also a major tourism destination in Nigeria, with several hotels, resorts, and tourist attractions. The city hosts the Imo State Carnival, which attracts thousands of visitors each year. Some of the popular tourist attractions include the Oguta Lake, Nekede Zoo, Mbari Cultural and Art Center, and the Owerri Amusement Park.
- Agriculture: The people of Owerri Municipal are predominantly farmers, and agriculture plays a significant role in the local economy. The area is known for the production of crops such as cassava, yam, maize, and palm oil.
- Banking and finance: As a major commercial hub, Owerri Municipal is home to several banks and financial institutions, including the Central Bank of Nigeria, First Bank, Access Bank, and Union Bank, among others. These institutions provide financial services to individuals and businesses in the area.