SMEs

Investment Opportunities in Kwara State

*The appropriate authorities

* The Bureau of Lands and Physical Development demarcates appropriate areas in various towns or Local Government Areas (LGAs) in the state as layouts for commercial use or as industrial estates. Within this bureau, there is an Industrial/Commercial Plot Allocation Unit.

* The Ministry of Commerce, Industry and Cooperatives is adequately informed of decisions pertaining to the demarcation of industrial estates so that such information can be disseminated to interested investors. All three of these bodies work hand-in-hand for quick allocation of plots to interested investors.

* The Ministry of Commerce, Industry and Cooperatives has studies on raw materials available in the state for interested investors.

*Queries*

* All inquiries on industrial or commercial ventures must be made to the Ministry of Commerce, Industry and Cooperatives.

* The Bureau of Lands and Physical Development offers the necessary forms for industrial plot application to the investor. A copy of this form is kept with the Ministry of Commerce, Industry and Cooperatives for its records.

*Allocation of plots*

All plot allocations (industrial or commercial) are made by the Bureau of Lands with the Ministry of Commerce, Industry and Cooperatives in attendance. The Ministry of Commerce is officially notified in writing of all such plot allocations made by the Bureau of Lands.

*Challenges and forfeits’*

An investor who is dissatisfied with the size or location of a plot allocated to him/her informs the Bureau of Lands. The Bureau in turn will inform the Ministry of Commerce, Industry and Cooperatives of the complaint and the necessary actions being taken. An investor who is allocated an industrial/commercial plot and who fails to develop his plot within one year of such allocation automatically forfeits his/her allocation.

*Industrial incentives:

Apart from setting priorities in its investment promotion efforts, the state government has introduced a package of incentives to prospective investors. These incentives will assist the industrialist in taking the right decision with respect to the choice of location of his industry in the state. These incentives include:

* Provision of in fro structure: The Government has provided

industrial and commercial layouts/estates that are fully serviced with the necessary infrastructure in all Local Government Areas: access roads, water supply, electricity and drainage. Where telephone facilities are available in a town, telephone lines will be extended to the layouts/estates therein.

* Plot allocation: Industrial and commercial plots will be allocated promptly on approval of the project.

* Certificate of Occupancy (CoO): Certificate of Occupancy will be issued within 30 days of agreement by all the parties involved in the processing.

* Joint financing of project: Joint financing by government agencies is guaranteed subject to their independent assessment of the project.

* Rebate on ground rent: Rebate is granted on ground rent and other fees to reduce the financial burden on investors.

* Raw material data: An in-depth survey of the available raw-material potential of Kwara State is obtainable from the Raw Materials Research and Development Council (RMRDC] at a token fee.

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *