Impact of Land Tenure Regularization on Formal Land Transaction and Investment in Ibadan Region Oyo State
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Date
2023
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Lead City University Ibadan
Abstract
This article examined the impact of land tenure regularization of Oyo State government on formal land
transactions and beneficiaries level of investment during the period 2017-2022. Both primary and
secondary data were explored for the study. Primary data were sourced from the beneficiaries of the
policy. Secondary data were sourced from lands registry Oyo state ministry of Lands Housing and
Urban Development's file, records and publications. In-Depth Interview were held with land registrar
with the aid of questionnaire and information such as number of land transactions registered during the
period 2017-2022 and transactions registered five years before tenure regularization policy
intervention (2012-2016) were also sourced for the purpose of comparative analysis. Also, Focus
Group Discussions and mobile data collection methods were used to collect information on
demographic characteristics, their perceptions, tenure security and type of investment embarked upon
after regularization, sources of funds and security for the fund sourced from financial institutions. One
thousand beneficiaries were interviewed. However, 800 copies of questionnaire forms were retrieved
for final analysis. The primary data were analyzed using the descriptive statistics such as frequency and
percentage tables. The formulated hypothesis was analyzed using Students' T-test statistics. The result
showed that out of 800 respondents, the majority applied for loan 96% of the beneficiaries applied for
loans from various financial institutions and 41% of the respondent invested on residential building,
17.5% on large scale agriculture and 8.9% on commercial. The collateral for the loan granted was the
regularized titled documents. The findings also showed that there is significant difference in formal
transaction registered in 2012-2016 and 2017-2022. The calculated t-value was 3.800 and critical t value was 1.900. Since the calculated t-value is greater than critical t-value (t-cal>t-critical) and p-value
0.04 is less than the level of significance 0.05, we reject the null hypothesis and accept the alternative
hypothesis which state that there is statistical significant difference in land transaction registered
between the two periods. Comparison of transaction between the periods shows that activities on
formal transactions have increased by 133%. Hence, we can infer that to improve land transaction and
investment, there will be need to improve the efficiency of land tenure regularization method.
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Keywords
Land tenure, Tenure regularization, Tenure security, Land transaction and investment.