INDICATIONS are increasingly emerging that Ogun is set to
overtake Lagos in industrialisation as churches are being
set up in place of factories in the latter state.
From Ikeja to Ogba, Isolo, Ilupeju, Amuwo-Odofin, Kirikiri
and other industrial estates in Lagos, there is an emerging
trend that has been ignored for too long - the gradual
transformation of these estates to religious centres and/or
residential estates.
Indeed, from The Guardian’s investigations, it may be safe
to infer that almost every street in Lagos, except for some
highbrow residential estates, houses at least three
religious centres, especially churches.
With many religious institutions unregistered, unlike
business enterprises that require incorporation, the
Corporate Affairs Commission (CAC) puts the figure of
registered incorporated trustees which include religious
organisations around 60,000 till date while the number of
registered limited liability companies stand at over one
million.
On the other hand, the predominant action is to have
business names that are often used to serve several
purposes, a figure the CAC puts around three million.
Recent entrepreneurship data by the World Bank showed
that Nigeria’s new business density remains low at 0.91
per cent representing 81,144 new businesses created in
2012, reflecting trends in new firm creation, the relationship
between entrepreneurship and the business environment,
and the effect of the financial crisis on entrepreneurial
activity.
Already, out of the figure by the World Bank and existing
businesses, 49,000 registered firms are set to be delisted
by the CAC over failure to file their returns, reflecting a
recurring issue of high mortality rate of small businesses.
Lagos State, which hitherto boasts of housing blue-chip
industries, is gradually losing the bragging rights to other
states as competition intensifies for its prime lands by
religious bodies and wealthy persons who desire to fill the
housing deficit gap created by the high population density
in the state.
Except for a few warehouses maintained by distributors of
foreign business chains who are not usually interested in
building factories/industries in Nigeria, key industrial
activities in the country, especially in Lagos, are becoming
out of fashion.
Apparently stifled by the lack of ease of doing business in
the country occasioned by parlous infrastructure, multiple
taxations, inconsistency in federal and state governments’
policies, high cost of funds, among others, many industries
have either shut down operations or moved their
businesses outside the country.
For instance, the Ogun State government revealed that
over 100 companies have shown readiness to locate their
manufacturing outfits in the state, with 32 of this figure
already on ground at different levels of operation, while 27
have fully commenced operations, a move that has spurred
the state government to restructure its bureau of lands and
survey for such activities.
Specifically, from the Sango Ota axis to Agbara, Ewekoro,
Ibese, Ifo, Ibafo, Magboro and Sagamu, not less than 50
major manufacturing firms including Procter and Gamble,
Nestle, Dangote Cement, Lafarge Africa Plc, WEMPCO Steel
Mill, Multitrex Integrated Foods Plc, Drugfield, Kolorkote,
Fidson, Intercontinental Distillers, Pure Chemicals, Fine
Chemicals, Farmex Mayer, Shonghai Packaging, Eagle
Packaging, Leady Pharma, May and Baker, Nycil Ltd.,
Honda Nigeria Plc, and Assometal, Nigeria Foundry Ltd.,
Dufil Indomie, Federated Steel Mills, Tower Aluminium,
Nigerian Breweries, Nigerian German Chemical and
Obasanjo Farms have registered their presence.
On its part, the Lagos State government is intensifying
efforts to develop four new industrial estates located in
Ibeju Lekki, Ijanikin, Ikorodu and Epe after some efforts at
renovating its four existing small-scale industrial estates
located in Isolo, Yaba, Sabo and Matori.
Existing industrial premises in Lagos have become nearly
moribund with skeletal operations and factories converted
into mere warehouses and into religious worship centres,
especially churches, while the few operating factories are
not functioning at full capacity.
The Guardian learnt that religious institutions wielding
high economic power and hardly restrained by statutory
requirements expected of limited liability institutions, find
such abandoned factories and warehouses attractive for
their activities.
The World Bank in its doing business report rated Nigeria
alongside other 188 economies number 147 on the ease of
doing business, nine points drop in its rank from position
138 recorded in 2013.
Key factors that depressed the indices include starting a
business, getting electricity, getting credit/loans,
protecting investors and paying of taxes.
Indeed, the imperative of making the business
environment conducive for industries to operate remains
key as emphasized by stakeholders.
Similarly, latest business confidence index of the Lagos
Chamber of Commerce and Industry (LCCI), shows that
medium and small manufacturing enterprises are the most
hit by the lingering challenges constraining productive
activities in the country.
According to the chamber, the most disturbing factors for
manufacturers include, power supply challenges, logistic
and infrastructural challenges, the influx of imported and
substandard products, preference for imported goods by
Nigerians, poor access to credit, high cost of doing
business, and inhibitive activities of government.
On the country assessment level, the World Bank noted
that Nigeria recorded significant improvements in its Doing
Business Index within the last four years, but tasked the
Federal Government on the need to address lingering
challenges experienced by small businesses.


http://www.ngrguardiannews.com/lead-story/183895-ogun-overtakes-lagos-in-industrialisation

it was just a matter of time..lagos economy is moving into the service economy. congrats to ogun state

Mehn!
This why I love South West...

Ogun state has the highest number of industries in NIGERIA - FACT. Ogun state has the highest number of universities in Nigeria -FACT

Crap.

.

mod what are u waiting for? Fp now.

The Igbo interlopers continue to bring in substandard product thereby undermining these industries.

This is no longer news. Sango Ota and Agbara in Ogun State are highly industrialized.