The effects of Nigeria's land tenure system on the real estate market

Buari, Oluwafunke (2010) The effects of Nigeria's land tenure system on the real estate market. MSc dissertation, University of Portsmouth.

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    Abstract

    This study has attempted to develop an understanding of the effects of Nigeria’s land tenure system on the real estate market. Based on the four objectives of the study, relevant research questions and tentative outcomes of the study were formulated and an exhaustive review of relevant literature was carried out. More importantly, a survey technique was adopted for the study through the use of structured questionnaire to generate vital information from 200 respondents. Out of a total of 250 questionnaires administered, only 200 questionnaires were returned. The researcher then analysed the responses generated with simple frequency table and percentages and responses from the respondents presented using graphs and tables. From the data analysis carried out taking cognisance of the research questions and objectives, there are interesting findings. First and foremost, there are many issues hindering effective implementation of the Land Use Act 1798 in Nigeria, which range from too much power concentrated in the hands of state governors and the conversion of Land Use Act into opportunistic legislation vested land in the hands of a few elites.

    Secondly, there are key constraints to real estate development in Nigeria. This has been linked to the allocation of land based on selfish economic and political reasons to the detriment of genuine stakeholders, cumbersome processes in land acquisition, failure to harmonise multiplicity of agencies of federal and state governments in charge of land matters and create several bottle-necks during the registration of land and application for titles. Also, several provisions of the Land Use Act inhibit investors’ confidence in the real estate market.

    Thirdly, there are many investment opportunities in the real estate market in Nigeria. There has been a steady rise in the value of land in major cities in Nigeria on account of various on-going developmental projects in the real estate market. Also, Nigeria’s population of approximately 140 million means there is always high demand for land and housing. Fourthly, there are many positive impacts of Land Use Act on the development of the real estate market in Nigeria despite the obvious inadequacies. The research concludes with policy recommendations to federal government on the need for the Land Use Act to be amended in order to make it more functional and resourceful to the needs of property developers in Nigeria.

    Item Type: Dissertation
    Departments/Research Groups: ?? EDAM ??
    Depositing User: Jane Polwin
    Date Deposited: 01 Feb 2011 11:18
    Last Modified: 28 Jan 2015 11:17
    URI: http://eprints.port.ac.uk/id/eprint/1112

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