TITLE:
Characteristics of Land Market in Nigeria: Case of Ibeju Lekki Local Government, Lagos, Nigeria
AUTHORS:
Victoria O. Odunfa, A. O. Agboola, T. T. Oladokun
KEYWORDS:
Characteristics, Land Market, Omo-onile, Enhancement, Environmental Management
JOURNAL NAME:
Current Urban Studies,
Vol.9 No.1,
January
18,
2021
ABSTRACT: This
study examined the characteristics of land market in Ibeju Lekki Lagos, Nigeria
with a view to enhancing the operation of the land market. Data were collected
through the administration of questionnaire on residents of Ibeju Lekki, key
developers in the area and Land Bureau officials. Pilot survey revealed that
there were 81 communities in the study area. Ten (10%) percent of the 81
communities were purposively selected representing 9 communities with 3155 housing units.
Systematic sampling technique with a random start was used to select one of
every sixteenth landholder giving 203 housing units. Total enumeration of all
the identified 9 indigenous landowners was interviewed and 7 officials of Bureau of Lands in
Lagos State were sampled for questionnaire administration. Data collected were
analysed using residents’ perception index, mean deviation, factor analysis and
regression analyses respectively. The results showed that the prominent
characteristics of the land market in the area with their corresponding mean
values were: easy transaction in the market (2.69), improved environmental
management (2.49), easy accessibility to market (2.41), good lending conditions
(2.35), efficient land use management (2.34), Certainty of land ownership (2.3),
land regulation (2.14) and access to experts (2.04). Using factor analysis, the
study established that equity, accessibility and finance explained 12.77%, 12.64%
and 9.09% of the total variance. The study thus established the land market
characteristics which could have positive significant effects on the operation
of the land market; in the study area.