The manufacturing sector of the Kwara State economy is largely driven by the private sector while a faction of 15 percents is government owned.
This was disclosed by the Executive Secretary of Manufacturing Association of Nigeria (MAN),
Kwara/Kogi State branch, Mr. Gbenga Adeola during a chat with Pilot Business in his office, on Friday.
Adeola who noted that the economic climate of Kwara is favourable for the growth of business enterprises, said entrepreneurs still encounter challenges.
“If you look at the shares, investments and turnover in the manufacturing sector in the state so far, it has been largely dominated by the capitalists.
“To measure the industrialised climate in Kwara State, you must first look at the investment alongside the turnover, look at the value chain, look at the tariff system and the taxes, and then deduct the challenges. These are the sequence to the climatic position of any manufacturing sector,” he explained.
He said, the manufacturing atmosphere in Kwara State is not bad, but not too good. The high rate of private investment in the manufacturing sectors in the state is more in proportion to other states of the federation”.
He then commended the Kwara State Government for creating an enabling environment for business activities to thrive in the state.
“The Kwara government has made the state business friendly for investors, as this has led to the influx of both local and foreigners into the manufacturing sector of the state.
“That will in the long-run have lasting positive impact in growth and development of manufacturing sector in Kwara State, which could go a long way to bring about economic liberation of the entire state,” Adeola added.
He, however, lamented the bottlenecks encountered by entrepreneurs in the state to get Certificate of Occupancy in order to access loans and funds from commercial banks.