INVESTMENT OPPORTUNITIES

Posted by on 2/5/2003 10:59:13 AM
Post Comment INVESTMENT OPPORTUNITIES Nigeria

Economic Climate: The state's economic cli mate has witnessed considerable improvement, particularly in the past one decade. In order to encourage private sector development in the state, government has concentrated on the improvement of infrastructural facilities such as water, electricity, roads and telecommunications etc. in the state.

Also, major assistance is now given to community development programmes in order to enhance the quality of life of the population at the grassroots. Besides, conditions for acquisition of land for indus trial purposes have been relaxed and certificate of occupancy is now far much easier to obtain for industrial landuse than it was some two decades ago.

The State Government also has both small and medium scale credit schemes for wouldbe investors in these categories, while those interested in big plants can always take advantage of the Kwara Investment Company (KINCO), which is a state owned development finance institution for industrialising the state. Finally, the government now gives special assistance to both local and for eign capital investments, which aim at utilising the resource endowments of the state. It also makes it possible for wouldbe investors to obtain their cer tificate of occupancy (C of 0) within one month of submission of application to the government.

Local Sourcing Of Raw Materials: There are no major economically viable minerals in Kwara State today. On the other hand, there are very good prospects in the agricultural sector; hence local sourcing of raw material for industrial purposes will depend on the success of agricultural development. Thus, aside from the agroallied industries there fore, other industries depend heavily on raw materi als that are sourced from elsewhere, including the overseas countries. Some of these industries are listed in Appendix .




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