Impact of Land Tenure Regularization on Formal Land Transaction and Investment in Ibadan Region Oyo State
| dc.contributor.author | Olukotun, S.A | |
| dc.contributor.author | Adediran, A | |
| dc.date.accessioned | 2024-08-30T11:57:55Z | |
| dc.date.available | 2024-08-30T11:57:55Z | |
| dc.date.issued | 2023 | |
| dc.description.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. | |
| dc.identifier.issn | 3027-0308 | |
| dc.identifier.uri | https://repository.lcu.edu.ng/handle/123456789/768 | |
| dc.language.iso | en | |
| dc.publisher | Lead City University Ibadan | |
| dc.relation.ispartofseries | Lead City University Postgraduate Multidisciplinary Serial | |
| dc.subject | Land tenure | |
| dc.subject | Tenure regularization | |
| dc.subject | Tenure security | |
| dc.subject | Land transaction and investment. | |
| dc.title | Impact of Land Tenure Regularization on Formal Land Transaction and Investment in Ibadan Region Oyo State | |
| dc.type | Article |