Economy and Infrastructure
The city is a major industrial centre as it has a large number of multinational firms as well as other industrial concerns, particularly business related to the petroleum industry. It is the chief oil-refining city in Nigeria. Rivers State is one of the wealthiest states in Nigeria in terms of gross domestic product and foreign exchange revenue from the oil industry, crude oil being its main export earner.
Some of Port Harcourt's more popular and well-known residential areas are Port Harcourt Township (or just 'Town'), GRA (Government Reserved Area) phases 1—5, Rumuomasi, Ogbunabali, Rumuola, Diobu, Amadi Flats, and Borokiri. The main industrial area is located in Trans Amadi. Face-me-I-face-you architecture is quite common to Port Harcourt. The Podium Block of Rivers State Secretariat is an icon of the city. An eighteen storey building, it has the tallest building in the South/South and South/East Geopolitical zones combined. The city has an international airport, Port Harcourt International Airport, two seaports (FOT Onne, Port Harcourt Wharf), two stadiums (Sharks Stadium which is the civic center) and Liberation Stadium located in Elekahia and two refineries. The city plays host to the Rivers State University of Science and Technology; there is also a University of Port Harcourt, which is Located in Obio/Akpor which was carved out of Port Harcourt Local Government Area for ease of administration. The city is sprawling in nature as building codes and zoning regulations are poorly enforced. Land is cleared and 'lean to' buildings constructed sometimes overnight. This adds to flooding and sanitation problems since with no proper drainage or sewer system, parts of the city flood during the very heavy monsoon-type rains that fall for half the year.
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Famous quotes containing the words economy and and/or economy:
“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)
“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)