The economy of Benin remains underdeveloped and dependent on subsistence agriculture and cotton. Cotton accounts for 40% of GDP and roughly 80% of official export receipts. There is also production of textiles, palm products, and cocoa beans. Maize (corn), beans, rice, peanuts, cashews, pineapples, cassava, yams, and other various tubers are grown for local subsistence. Benin began producing a modest quantity of offshore oil in October 1982. Production ceased in recent years but exploration of new sites is ongoing.
A modest fishing fleet provides fish and shrimp for local subsistence and export to Europe. Formerly government-owned commercial activities are now privatized. A French brewer acquired the former state-run brewery. Smaller businesses are privately owned by Beninese citizens, but some firms are foreign owned, primarily French and Lebanese. The private commercial and agricultural sectors remain the principal contributors to growth.
Since the transition to a democratic government in 1990, Benin has undergone an economic recovery. A large injection of external investment from both private and public sources has alleviated the economic difficulties of the early 1990s caused by global recession and persistently low commodity prices (although the latter continues to affect the economy). The manufacturing sector is confined to some light industry, which is mainly involved in processing primary products and the cow production of consumer goods. A planned joint hydroelectric project with neighboring Togo is intended to reduce Benin's dependence on imported energy mostly from Ghana, which currently accounts for a significant proportion of the country's imports.
Benin City is a city (2006 est. pop. 1,147,188) and the capital of Edo State in southern Nigeria. It is a city approximately 40 kilometres (25 mi) north of the Benin River. It is situated 320 kilometres (200 mi) by road east of Lagos. Benin is the centre of Nigeria's rubber industry, but processing palm nuts for oil is also an important traditional industry.
The original people and founders of the Benin Empire, the Edo people, were initially ruled by the Ogiso (Kings of the Sky) dynasty who called their land Igodomigodo. The rulers or kings were commonly known as Ogiso. Igodo, the first Ogiso, wielded much influence and gained popularity as a good ruler. He died after a long reign and was succeeded by Ere, his eldest son. In the 12th century, a great palace intrigue and battle for power erupted between the warrior crown prince Ekaladerhan son of the last Ogiso and his young paternal uncle. In anger over an oracle, Prince Ekaladerhan left the royal court with his warriors. When his old father the Ogiso died, the Ogiso dynasty was ended as the people and royal kingmakers preferred their king's son as natural next in line to rule.
The Benin Empire was a pre-colonial empire located in what is now southern Nigeria. Its capital was Edo, now known as Benin City, Edo. It should not be confused with the modern-day country called Benin, formerly called Dahomey. The Benin Empire was "one of the oldest and most highly developed states in the coastal hinterland of West Africa, dating perhaps to the eleventh century CE", until it was annexed by the British Empire in 1897.
The original people and founders of the Benin Empire, the Edo people, were initially ruled by the Ogiso (Kings of the Sky) dynasty who called their land Igodomigodo. The rulers or kings were commonly known as Ogiso. Igodo, the first Ogiso, wielded much influence and gained popularity as a good ruler. He died after a long reign and was succeeded by Ere, his eldest son. In the 12th century, a great palace intrigue and battle for power erupted between the warrior crown prince Ekaladerhan son of the last Ogiso and his young paternal uncle. In anger over an oracle, Prince Ekaladerhan left the royal court with his warriors. When his old father the Ogiso died, the Ogiso dynasty was ended as the people and royal kingmakers preferred their king's son as natural next in line to rule.
Benin is a modern country in Africa, the former colony of French Dahomey.
Benin can also mean: