FIRMS LOCATION AND RELATIVE IMPORTANCE OF LOCATION FACTORS AMONGST FIRMS IN THE LAGOS REGION, NIGERIA

Abstract

The location and location factors constitute a potent and essential prerequisite, for any country or a region to experience a significant revamping, sustenance, rejuvenation and advancement in the industrial sector of her economy, This paper underscores the location and location factors amongst firms in the Lagos region. Both primary and secondary sources of data were adopted. The first stage in the collection of primary data involves the reconnaissance survey of the study area, while the second stage involves the administration of questionnaire to 103 firms in the twelve industrial estates of the region. All the firms identified during the reconnaissance survey were successfully covered. The paper has found out a clustered pattern of industrial distribution in the region. The research further revealed the following location factors as germane to industrial enterprise; nearness to raw materials, market facilities, transportation, research and development, water supply, labour, power supply, personal reasons, cheap land, government policy, telecommunication, ports and shipping and access to financial institution. It was vivid from the research that market facilities was the most significant among the location factors, it also doubled as the most important advantages offered by locating within the industrial estates. The paper further revealed that the location factors were inadequate. On this premise, government intervention was strongly recommended. Governments have an important role to play in encouraging the small, medium and large scale enterprises. This could be achieved by making the location factors to be liberal coupled with the provisions of adequate infrastructural facilities in the industrial estates. Also, tax holidays should be given to the younger investors, while relaxing the laws governing the importation of raw materials. A financial assistance in form of loan should be given to interested investors, while the collateral securities should be affordable. Key words: Location, Location factors, Infrastructural facilities, Industrial estates, Lagos region