Lagos Journal of Environmental Studies

Assessment of Macroeconomic Variables that Influenced the Participation of Foreign Direct Investors in Nigeria’s Commercial Property Market from 2000-2021

Abiodun Jogunola — 2024-09-25

Purpose - This study aims to assess major macroeconomic variables that influenced the participation of foreign direct investors in Nigeria's commercial property market from 2000 to 2021. It identifies five FIGIP variables essential in determining the health of an economy that foreign direct commercial property investors could use as criteria for making their investment decisions.

Design / Methodology / Approach—Secondary data for the study were obtained from the statistical bulletins of the Central Bank of Nigeria (CBN) and the reports of the World Bank. The quantitative data were analyzed using descriptive statistical tools and multiple regression analyses. The study's hypotheses were tested using the Pearson product-moment correlation coefficient.

Findings – It was revealed that though Nigeria's GDP is presently the largest in Sub-Saharan Africa and used to be the largest in Africa for the past years, it did not result in the attraction of the highest foreign direct capital to its commercial property sector when compared with nations with lesser GDP size in the region. Furthermore, the study shows that the country's foreign exchange rate (multiple exchange rates) regime (though recently abolished but still thrives) is a significant factor mitigating the attraction of foreign direct investors into Nigeria's commercial property market.

Research Limitations—This study considered the commercial property sector; however, the impact of Nigeria's macroeconomic variables on the real estate market's residential and logistics property sectors could be considered for further study.

Theoretical / Social / Practical Implications—The national government should be aware of its responsibility to manage the economy so that the country's macroeconomic variables will boost the confidence of foreign direct commercial property investors.

Originality / Value—The Nigerian Investment Promotion Commission (NIPC) and the Central Bank of Nigeria (CBN) should find this study's recommendations useful in making important economic decisions.

Perception of fire safety in properties adjoining filling stations in Lagos State

Akintade Samuel Afolayan — 2024-09-25

Purpose -. Following recorded fatalities in and around Petrol Filling Stations (PFS) in Nigeria, this research explores the perception of fire safety among users of properties adjoining PFS in Lagos State towards understanding their preparedness for, or adaptability to possible disasters.
Design / Methodology / Approach
Qualitative and quantitative techniques were adopted, choosing the identified 17 PFS in the study area. Total of 154 properties around these locations were also purposively sampled for primary data collection. Secondary data were obtained from relevant town planning sources and official documents of the DPR.
Findings – The respondents had co-existed with adjoining PFS for upwards of 7 years. Location of PFS did not fit into the cityscape plan. Most PFS did not comply with minimum locational requirements. Threats to life and properties had been continuous while property users are not well informed about hazard insurance.
Research Limitations – The study collected data from PFS operators, and user sides. DPR was not heard out, regarding operational procedures. The level of fire insurance policy required by the occupiers of adjoining properties was also not addressed.
Theoretical / Social / Practical Implications- PFS locations did not conform with the city landscape plan. The perception of fire safety was also significantly different between the two respondent-groups. The study recommended proper monitoring of siting of PFS by the DPR and mandatory compliance to Town Planning laws by operators.
Originality / Value – The dangers being perennially anticipated by users of premises adjoining filling stations were highlighted. Measures are required to ameliorate the hazards.

Evaluation of Socially Responsible Practices for Preventing Housing Project Challenges in Abuja, Nigeria

Afam Mike Achoru — 2024-09-26

Purpose - Housing represents one of the most basic needs of man therefore considering the number of deficit housing units which stands at over 23 million, the need increase supply becomes most imperative. To ensure effective and efficient delivery of housing, socially responsible practices can be employed in housing production to prevent challenges, hence the purpose of the study was to explore socially responsible practices adopted by construction firms for preventing challenges in housing projects, which will consequently enhance housing production.

Design/methodology/approach - The study adopted the descriptive research design, quantitative design method, case study research strategy and cross-sectional time horizon. The study collated variables and afterwards sampled opinions of construction professionals’, ‘as respondents’ in four construction firms in Abuja, Nigeria, so as to provide information on application of socially responsible practices in housing projects. The data analysis tools adopted were Mean Rating and Kruskal Wallis Test. A part of the 138 professionals sampled, ranked these practices afterwards.

Findings - The study revealed the five key practices in preventing housing project challenges to be: generating profit; managing projects within the confines of the law; ensuring an environmentally friendly project; community service/development and payment of taxes when due.

Research Limitations – The research limitations were three-fold being: difficulty in gaining access into some large construction firms for data collection; the inability to view some vital documents which would have provided more insight into CSR practices in the case studies, as the documents were termed ‘classified’; and the difficulty in interfacing with respondents as the research was conducted during the COVID 19 pandemic which had financial and time implications.

Theoretical/Social/Practical implications – The findings of the study further indicate that socially responsible practices are multiple and vary from one project phase to another. Inability to effectively utilize these practices in a housing project life cycle suggests cost and time implications which can derail or lead to project abandonment. Construction participants need to effectively and efficiently integrate these practices in housing project execution to ensure stakeholder and shareholder satisfaction.

Originality/value - More than ever, there is need to distinctly categorize socially responsible practices into economic, legal, ethical and philanthropic responsibility respectively in housing project service delivery and consider project peculiarities while adopting these practices. Furthermore, applying these practices constructively and logically suggests great potentials in preventing housing project challenges.

Valuers’ perception of the Relative Influence of Sustainability Features in Nigerian Property Valuation

Adebola Adeyemo — 2024-09-26

Purpose- This study explores the perceptions held by Estate Surveyors and Valuers (ESVs) in Lagos regarding the influence of sustainability features (SFs) in property valuation and also ascertains if the influence differs in residential accommodation and commercial office space valuation.

Methodology- Multiple choice and Likert scale questionnaires were randomly administered to 198 valuers representing 50% of the ESVs in Lagos as contained in the current NIESV directory. To ascertain their perception and determine variations in influence across the two property types, ranking was done on a Likert scale of 1-5 and paired sample t-test was used respectively. The data obtained was analyzed using descriptive and inferential statistics.

Findings- Access to transportation emerged as the highest-rated sustainability feature (SF) influencing residential property valuation with a mean rating of 4.14, followed closely by durable materials (4.02) and space efficiency (3.81). Commercial properties mirrored nearly the same perception, with access to transportation, use of durable materials, and space efficiency receiving mean ratings of 4.19, 4.07, and 3.9 respectively. Findings reveal a calculated emphasis on location, material quality and cost which contradicts Western prioritization of energy efficiency. Nine out of the 26 sustainability features emerged with p-values less than 0.05 establishing a variance on the influence of some sustainability features across the two property types. Notably, there is a perceived higher influence of these SFs in residential property valuation.

Research limitations- The issue of reluctance among the target population to allocate sufficient time for survey participation is a major barrier, leading to a retrieval rate of 58%.

Theoretical/Social/Practical implications – The findings bring to focus the considerations that can shape property valuations in Lagos. Ultimately, the incorporation of a sustainability premium into rental or capital valuation will provide valuable insights for developers, policymakers and other investors in sustainable buildings.

The originality/value- This study has established a localized perspective of the varied influence of sustainability features in residential and commercial property valuation in Lagos, Nigeria.

Competitiveness and Informal Economy Practices of Architecture Engineering and Construction Consultants

Iniobong B. John — 2024-09-27

Purpose –The Nigerian informal economy is expanding significantly particularly in the built environment due to the ever-increasing demand for infrastructure development for Nigeria's developing economy. The increased demand for infrastructure results in active competition between the formal and informal sectors' activities of built environment consultants. The study investigates informality and competitiveness among Architecture, Engineering, and Construction (AEC) consultants.

Design/methodology/approach – The study deployed the quantitative method and adopted a survey design. A structured questionnaire was administered by hand among AEC consultants randomly selected from various AEC consultancy practices in Lagos.

Findings – The study established that some AEC consultants operated informally due to the tedious process and documentation involved in obtaining a business license and not necessarily to avoid tax payments. The study established a positive relationship between the competitiveness of AEC consultants in the informal sector.

Research limitations– This study focused on consultancy firms in the AEC sector as an integral part of the built environment. The research is limited to AEC consultancy firms in Lagos, Nigeria. Some respondents were reluctant and declined to disclose information involving their participation in the informal economy.

Theoretical/Social/Practical implications – The study established a positive formal-informal linkage among AEC consultants in the AEC sector, consultants should take advantage of this linkage to enhance their competitiveness in the AEC sector.

Originality/value – There is a positive relationship between the competitiveness of AEC consultants in the formal and informal sectors. The implications of informality among AEC consultants are social, economic, financial, contractual, and governance-related

Impact of Artificial Lighting in the Auditorium Building Spaces of Ajayi Crowther University, Oyo, Nigeria

Michael O. Joel — 2024-09-27

Purpose: The study investigated the impact of artificial lighting in Auditorium building spaces in a typical private university. Artificial lighting is a useful architectural design factor of auditorium building spaces; for enhancing the spaces and setting the mood for creating functional environments.

Design/methodology/approach–The methodology obtained primary quantitative data from 45 respondents (n=45); from three (s=3) selected auditorium buildings within the University adapting purposive sampling from the initial sample size due to some research limitations and analysed statistically using the Statistical Package for the Social Sciences version 23.

Findings–It is noteworthy of the various existing artificial lighting design features; uniform light distribution had the highest mean score of 3.40 in the Auditorium Buildings while natural lighting had the highest mean score of 3.58 as influencing artificial lighting and visual comfort in the selected auditorium buildings while the availability of natural light sources with a mean score of 3.96 was the highest critical success factor.

Research limitations–It is essential to acknowledge the limitations of this research which lies in the selection of the Auditorium Buildings within the academic institution which could act as a bias in the deductions.

Research Implications–This study suggested further investigations on the critical success factors that may influence natural lighting via architectural design methods for the tropics serving as a reference point for implementation by policymakers.

Originality–The results obtained were based on original analysis of the selected auditorium buildings within the study area suggesting similar studies be carried out on other academic institutions.

Foreign Exchange Rates and Infrastructure Development in Nigeria

Iniobong B. John — 2024-09-27

Purpose – Infrastructural development is germane for the socioeconomic growth of nations. Nigeria’s infrastructural deficit has been attributed to poor infrastructure planning, mistiness in public procurement, over-dependence on oil revenues and fluctuating exchange rate. The purpose of the study is to examine the relationship between foreign exchange rate and cost of road infrastructural development in Lagos State.

Design/methodology/approach – A quantitative research approach was adopted in the study. Data on cost of road infrastructure in Lagos was gathered from the archives of registered Lagos Sate civil engineering consultants and contractors. Data on foreign exchange rate was obtained secondarily from the publications of the Central Bank of Nigeria (CBN) and Nigeria Bureau of statistics using a data collection proforma for a period of seventeen years spanning from 2000 to 2016, indicating the inception of democracy in the Nigerian political agenda and the end of military rule in Nigeria.

Findings – Fluctuation in foreign exchange rate had 49.6% impact on the cost of road infrastructural development and is responsible for the high cost of infrastructural development in Nigeria.

Research limitations– Only Road infrastructure project cost for Lagos, Nigeria was considered in the study

Theoretical/Social/Practical implications – Unstable foreign exchange rate directly affects cost of road infrastructure, resulting in increased cost while widening the infrastructure deficit.

Originality/value – Periodic study of foreign exchange rates and its attendant implications for infrastructure development can provide policy direction towards closing the infrastructural deficit in Nigeria

Assessment of Socioeconomic Characteristics of Peri-Urban Residents in Ibadan, Nigeria

Ismail Bimpe Adewoyin — 2024-09-27

Purpose - Peri-urban areas are crucial transitional zones where urban and rural structures intersect, often leading to unique challenges and opportunities for residents. This study explores the assessment of socioeconomic characteristics of peri-urban residents in Ibadan, Nigeria. It identified key socioeconomic factors influencing the lives of peri-urban residents and understood the dynamics of socio-economic development in these areas.

Research Approach - Using a mixed-methods approach, this research gathered comprehensive data on the demographic profile, age, gender, income, education levels, employment status, and housing conditions of the respondents.

Findings - The findings show a gender distribution of 6:4 male and female residents while their marital status reveal about 68% married in the study areas. The age distribution gives a mean age of 46years, 18 and 82 years as minimum and maximum respectively. On occupation, 41% are engaged in business, 33.5% civil servants, and 9% are technocrats. Ownership status showed about 68.5% owns their houses.

Research Limitation - The sampled communities comprising Eleyele 70, Adetokun 148, Alafara 86 and Ologuneru 42, totaling 346 questionnaires out of which 325 was retrieved leaving behind 21. This gives a 94% recovery. Notwithstanding, most vulnerable or marginalised population may have been inadvertently excluded.

Practical Implications - The study has implications for urban planning, social policy, and community development initiatives in the areas. Additionally, it would help policymakers and stakeholders develop more sustainable and inclusive strategies for urban growth and development.

Originality - The study provides valuable insights for fostering more equitable and sustainable development and enhancing the overall quality of life for their residents.