No of Industries
Table 2: Trend of Demised Industries in Kwara State.
Source: Authors’ Research, 2008
This is about 58.06% of the total collapsed industries in the state. It should be pointed out that the year 1999, alone, has the highest number of industrial demise. This was probably due to the worldwide economic recession. Most industries that collapsed during this period was probably due to the shortage of raw materials, high cost of procurement, huge overhead cost, and poor accessibility to public goods and services within the local environment. However, between be 2000 and 2009, only two industries collapsed and this was about6.4% of the collapsed industries. This was probably because of the State government’s intervention and encouragement to promote industrial development in the state by providing conducive industrial environment and improvement in the national economy.
Table 3 shows the list, ownership, and year of final collapse of these industries. This also helps refute the belief that Kwara State was not industrialized, as a lot of industries existed prior to the present situation on the landscape. One interesting thing about these industries is that over 60% of them were located in the rural areas, such as Oro, Buhari, Ijomu, Iddo Oro, Ajasse, and Igbaja, to mention a few.