Posted by on 2/6/2003 9:49:09 AM

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 transactions.

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.

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