CUS  Vol.9 No.1 , March 2021
Characteristics of Land Market in Nigeria: Case of Ibeju Lekki Local Government, Lagos, Nigeria
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.
Cite this paper: Odunfa, V. , Agboola, A. and Oladokun, T. (2021) Characteristics of Land Market in Nigeria: Case of Ibeju Lekki Local Government, Lagos, Nigeria. Current Urban Studies, 9, 1-16. doi: 10.4236/cus.2021.91001.

[1]   Adeniyi, K. O. (2013). Identifying and Addressing Land Governance Constraints to Support Intensification and Land Market Operation: Evidence from ten African Countries. Food Policy, 48, 76-87.

[2]   Agbabiaka, H. O. (2016). Factors Influencing Patronage of Medical Tourism in Metropolitan Lagos. Nigeria International Journal of Scientific & Technology, 5, 32-41.

[3]   Ajayi, O. A. (1998). Property Investment Valuation and Analysis. Bashorun: Ageless Friendship Press.

[4]   Angel, S. R. W., Tanphiphant, A. S., & Wegalin, E. D. (1983). Land for Housing the Poor. Singapore Selects Books.

[5]   Annette, H. (2002). Two States, One City? Conflict and Accommodation in Land Delivery in Kampala, Uganda. International Development Planning Review, 28, 159-180.

[6]   Baland, A. A. (2007). Improving Land Policy for Private Sector Development in Nigeria: Lessons and Challenges Ahead. The World Bank Conference on Land Governance in Support of the MDG5, Washington DC, 9-10 March 2007, 23-28.

[7]   Calderon, J. A. (1996). Access to Urban Land for the Poor and the Real Estate Market in Metropolitan Lima Cambridge. Cambridge, MA: Lincoln Institute of Land Policy.

[8]   Calderon, J. A. (1999). Considerations on Illegal and Informal Urban Land Markets in Latin America. Cambridge, MA: Lincoln Institute of Land Policy.

[9]   Deininger, K. W., & Byerlee, D. (2011). Rising Global Interest in Farmland: Can It Yield Sustainable and Equitable Benefits? Washington DC: The World Bank.

[10]   Dowall, S. M. (1993). The Politics of Land Deals—A Comparative Analysis of Global Land Policies on Large-Scale Land Acquisition. The Land Dividend: Land and South African Society in 1993 in Comparative Perspective Conference, Cape Town, 24-27 March 1993, 11-23.

[11]   Emmanuel, N. (2008). Understanding Informal Urban Land Access Processes from a Legal Pluralist Perspective: The Case of Kampala, Uganda. Habitat International, 32, 109-120.

[12]   Funmilayo, L. A., & Ogunlade, B. (2015). Effect of Urban Informal Settlements and Outdoor Advertisement on the Quality of Built Environment and Urban Upgrading in Nigeria. Journal of Emerging Trends in Economics and Management Science, 6, 332-339.

[13]   Greenspan, P. S. (1994). Moral Residues. In Practical Guilt: Moral Dilemmas, Emotions, and Social Norms (110-116). Oxford: Oxford UP.

[14]   Holden, S. T. (2013). Growing Importance of Land Tenancy and Its Implications for Efficiency and Equity in Africa. In E. Bulte, & R. Ruben (Eds.), Development Economics between Markets and Institutions. Incentives for Growth, Food Security and Sustainable Use of the Environment (pp. 387-405). Mansholt Publication Series Vol. 4, Wageningen: Wageningen Academic Publishers.

[15]   Jayne, J., & Keller, G. H. (2003). Towards Pro-Poor Regulatory Guidelines for Urban Upgrading. The International Workshop on Regulatory Guidelines for Urban Upgrading, Bourton-on-Dunsmore, 38.

[16]   Kironde, W. A. (2000). Land Markets and Legal Contradictions in the Pen-Urban Area of Accra Ghana: Informant Interviews and Secondary Data Investigations.

[17]   Mooya, M., & Cloete, C. (2007). Governance Structures for Real Estate Transactions: Markets, Networks and Hierarchies in Windhoek’s Urban Low-Income Settlements. Acta Structilia, 29, 46-73.

[18]   North, D. C. (2009). Institutions, Institutional Change and Economic Performance. New York: Cambridge University Press.

[19]   Nwaka, E. (2005). Informal Land Access Processes in Akwa-Lbom, Nigeria. A Legal Pluralist Perspective. Unpublished PhD Thesis, Birmingham: School on Public Policy, University of Birmingham.

[20]   Oladokun, T. T. (2017). Creating an Effective Land Market in an Emerging Economy: Issues, Opportunities and Challenges. Unpublished Paper.

[21]   Oloyede, S. A., Ajibola, M. O., & Oni, A. O. (2007). Informal Land Delivery System in Lagos Sate Nigeria. Journal of Land Use and Development Studies, 3, 139-145.

[22]   Oloyede, S. A., Osmond, I. E., & Ayedun, C. A. (2011). Informal Land Market: Alternative Approach to Mass Residential Housing Provision in South Western Nigeria. Journal of Geography and Regional Planning, 4, 598-603.

[23]   Rakodi, C. (2006). State-Society Relations in Land Delivery Processes in Five African Cities.

[24]   Rakodi, L., & Leduka, C. (2003). Informal Land Delivery Process and Access to Land for the Poor in Six African Cities, towards Conceptual Framework. Birmingham: International Development Department, School of Public Policy.

[25]   Siastad, E. (2003). Trends in the Emergence of Agricultural Land Markets in Sub-Saharan Africa. Journal of Forum Development Study, 30, 5-28.