1. bookVolume 10 (2022): Issue 1 (January 2022)
Journal Details
License
Format
Journal
eISSN
2255-9671
First Published
15 Dec 2015
Publication timeframe
1 time per year
Languages
English
access type Open Access

Assessment of Land Speculator’s Operation for Land Accessibility in Nigeria

Published Online: 16 Mar 2022
Volume & Issue: Volume 10 (2022) - Issue 1 (January 2022)
Page range: 26 - 40
Journal Details
License
Format
Journal
eISSN
2255-9671
First Published
15 Dec 2015
Publication timeframe
1 time per year
Languages
English
Abstract

Land speculation is a form of investment for future gain in form of appreciation in land value. Previous studies on land speculation have failed to examine the operations of land speculators but rather focused on negative impact of land speculation. This study fills this gap by evaluating the operation of land speculators. A hypothesis is tested in addition to four specific objectives. The 21 land speculators with physical presence in five local governments neighbouring Lagos State, Nigeria, have been surveyed using questionnaires. Data gathered have been analysed using frequency distribution table, relative importance index (RII), ranking and linear regression. Findings of the study reveal that family is the major source of land acquisition. Also, land speculation activity is not regulated in the study area. The study reveals that the majority of the speculated land is not covered by a state recognised title. The most prevalent activity of the land speculators in the study area is apportioning land into plot with RII of 0.962. Also, land speculation is mostly financed using equity with RII of 0.895. Profiteering from business is the highest ranked motivation with RII of 0.914. The highest ranked perceived consequence from land speculator’s perspective is an increase in land price with RII of 0.914. The study hypothesis H0 stating that there is no significant impact of land speculation on land accessibility has been rejected and an alternate hypothesis has been accepted as it has been established that land speculation has a significant impact on land accessibility which means that land speculation is a major hindrance to land accessibility. Assessment of land speculator’s operation reveals their awareness of the negative consequences of their actions. However, they are motivated by anticipated proceeds from the venture.

Keywords

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