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This study examines the influence of Students Industrial Work Experience Scheme on Professional Development of Library and Information Science Students in South-West, Nigeria. Descriptive research design was adopted for the study and total enumeration sampling technique was used to select 277 respondents covering three institutions; Adeleke University, Ede Osun state, University of Ibadan, Ibadan and Tai Solarin University of Education, Ijebu Ode, Ogun state. The respondents are students who have gone through student industrial experience scheme. Questionnaire was the instrument used for data collection. Data collected was analysed using descriptive statistics and simple percentages. Findings revealed that majority of LIS students understudied had their trainings in the libraries. The facilities available at the places of training included: computer laboratories, internet services, e-libraries and audio-visuals. Computer laboratory and internet facilities had the greatest frequencies 207(93.7%) each These accounted for the students’ perceptions that SIWES influences professional development positively with response rate of 216 (97.7%) agreement, and that SIWES exposed them to new work methods also with response rate of 216 (97.7%) agreement. It was also discovered that SIWES provides avenue for technical skill development with response rate of 208(94.1%) in agreement. Noticeable challenges facing SIWES include finance, students’ placements as a result of non acceptance of students by some employers into their establishments, inadequate supervision of trainees as well as irregularity in academic calendar of institutions among others. It was recommended that institutions and other stakeholders should look keenly into the modalities and operations of the scheme to allow the scheme achieve its stated objectives.