IMPACT OF URBAN GROWTH ON COMMERCIAL PROPERTY INVESTMENT (A CASE STUDY OF OFFA METROPOLIS)

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CHAPTER ONE

  1. INTRODUCTION

Urban areas are very much human invention which main has evolved as a means of organizing his existence.

In course of time, settlement grew in size and complexity thus, it was observed by “learn and Goodall” (2002) that “the development or urban areas and the increasing proportion of man’s ability to fashion the physical, economic and social world in which he lives”.

However, distinction must be making between factors bringing about a general growth in urban population and urban areas throughout a nation and those which cause the growth of a particular urban area. Thus, these are those by economic and non-economic factors.

In essence the nature of existing economic activities in Offa metropolis i.e. shops, offices, filling station, small scale industries, poultry gardens, garages, shop building converted to nursery and primary school, market, filling station federal polytechnic, private college of education, school of navy etc have brought a guide the size and character of their  respective income; and their population-number brings a guide to their consumption and land use pattern because the seeds for urban growth are very much contained in their urbanization itself. Also with an increase in real income

Couple with the limits growth of urbanization in Offa Metropolis, in relation to their economic activities especially in Offa Metropolis has additional people from different place to settle down there. With this increase in population it has brought an additional supply of foodstuff in needed to support the percentage of their total population area.

1.1   STATEMENT OF THE PROBLEM

National prosperity as explained by Jackson (2003) depends on considerable extent upon adequate functioning of the economic accomplishment and the social achievement of its urban area.

Thus, with the presence of quietness and some other noticeable activities as mentioned above have brought an unprecedented in dome other states. So this rapid growth on the Offa Township has brought about lots of pressure on the demand for landed property and commercial properties if compared with other sub-urban areas with the state.

In the light of this, that this study is designed to examine the effect of urban growth on commercial property investment in Offa Metropolis.

1.2   AIM AND OBJECTIVES OF THE STUDY

The topic aim to examining the causes and the impacts of urban growth on the commercial property investment in Offa Metropolis, Ilorin. The following objectives are to be considered.

  1. To examine what brought about urban growth in Offa Metropolis
  2. To examine the rate of urban growth in Offa Metropolis
  3. To examine to what extent has the urban growth favour commercial property investment in Offa Metropolis (Kwara State).
  4. To examine other influence and problems caused by the urban growth.
  5. To suggest possible solutions to the problems identified.

1.3   SCOPE AND LIMITATIONS OF THE STUDY

The scope is to highlight the impact of the urban growth on commercial property investment in Offa Metropolis. [1] The difficulties encountered during this research were basically on data collection; thus, this has been described as the most tedious, pain and in some area cases frustration so to say [2]. Also inability to obtained the data at the material time contribute to the researcher’s problem which is the back borne for the success of this project [3]. In addition, is the difficulty encountered in tracking down the corners in Offa Metropolis (Kwara State).

In fact, for any research of this nature as a relatively long period of sustained concentration is very vital.

In a nutshell, the researcher’s has rather suffered much interrupted due to above listed reason.

However, despite all odds, the various information collected have been critically synthesis and analyzed to make the research more meaningful and useful.

1.4   GEOGRAPHICAL SETTING

Offa local government Area was creating in 1991both the head quarter of Offa.

The local government has the 10 (ten) wards district Offa, Road distance from the state capital to Offa local government area is 56km.

Population 74, 924 (Male 36, 727 and Female 38, 197) 2006 census

ii.     Major towns; Idi Ogun, Igbo Oran, Owode Oja Market

iii.    Natural resources: Maize, Sweet potatoes

iv.    Major Language: Yoruba

  •  Gronite
  • Major festival: Egungun, Agere, Yan festival

Tourist attraction: Onimokasshrine of Olofa Palace

IMPACT OF URBAN GROWTH ON COMMERCIAL PROPERTY INVESTMENT (A CASE STUDY OF OFFA METROPOLIS)