There are financial institutions such as banks and allied financial houses
that are encouraging the private sector to establish industries in the state.
The state's agricultural and industrial policies have adequate incentives to
attract private investors.
One of such is the provision of basic infrastructure such as the development
of industrial estates in dif ferent areas of the state with "sites and services
(i.e., water and power supply, access roads, drainage and telecommunication
services). The Federal Government has other incentives for investors such as
taxholiday of three to five years, approved user scheme, accelerated capital
depreciation on investment, excise duty conces sions and tax relief specifically
aimed at the encouragement of research and development (R & D).
The rural banking policy of the Federal Government has facilitated the establishment
of the Peoples' Banks and Community Banks in all LGAs in the state. A branch
of the Central Bank is also located in the state to facilitate, required financial
The locational advantage of the state, in being between the Lagos and lbadan
commercial centres, has provided accessibility to sources of finance and the
market for the manufactured products. All these advantages have made Ogun state
one of the growing industrial states in the country.