The effect of environmental pollution on real estate development. Environmental pollution is one of the problem affecting real estate development that needs quick attention. Due to many industries located in Nigeria there is much discharge of gaseous effluent and waste disposal. Also there is the increase of automobile which generates fumes; smoke from generating plant which is on the increase polluting the environment. This research use Warri, Delta state as a case study. The research examined the effect of environmental pollution on real estate development. It also look at the extent to which it affected the entire property and other people living around the area and suggested possible solutions.
TABLE OF CONTENTS
Title page i
Approval page ii
Table of contents vi
1.0 Introduction 1
1.1 Background of the study 1
1.2 Statement of the problem 4
1.3 Aim and Objectives 4
1.4 Scope of the study 5
1.5 Research questions 6
1.6 Delineation of study areas 6
1.7 Limitation of the study 7
1.8 Significance of the study 7
1.9 Definition of terms 8
2.0 Literature Review 10
- Real Estate And Environmental Pollution 10
2.1.1 Physical Pollution 10
2.1.2 Nonphysical Pollutions 11
- List Of Pollution 12
2.3 Example Of Special Situations 12
2.3.1 Underground Storage Tanks (USTS) 15
184.108.40.206 Change In Commercial Industrial Property Value 16
220.127.116.11 Effect On Residential Property Value 17
2.3.2 Asbestos And Other Insulating Materials 18
2.3.3 Lead Paint And Products 19
2.3.4 Radon 20
2.3.5 Nuclear Facilities 21
2.3.6 Air Pollution 24
2.3.7 Noise Pollution 25
2.3.8 Toxic Substances In The Home 25
2.3.9 Surface Water And Ground Water
Quality Requirements 27
2.3.10 Waste Disposal Facilities And Practices. 29
2.3.11 Illegal Drug Manufacture-Effect
On Property Value 30
2.4 Testing 32
3.0 Research Methodology 33
3.1 Introduction 33
3.2 Research Design 33
3.3 Sources Of Data 34
3.5 Area Of Study 34
3.6 Population Of The Study 34
3.8 Sample Size Of The Study 35
3.9 Sampling Techniques 35
4.1 Data Presentation And Analysis 36
4.1 Introduction 36
4.2 Data Presentation 36
4.3 Data Analysis 37
4.3.1 Research Questions 37
5.0 Discussion Of Findings, Conclusion And
5.1 Discussion Of Findings 44
5.2 Recommendations 48
5.3 Limitation Of The Study 50
5.6 Conclusion 50
1.1 BACKGROUND OF THE STUDY
Warri is one of the well known oil producing city in Delta State Nigeria. Warri is one of the prominent towns in the Niger Delta endowed with great natural resources.
Oil is the primary base of Nigeria’s economy and is also the cause of major environmental and social problems in the Niger Delta region of Nigeria. Over the years, oil exploration, production, and refinement in Nigeria has resulted in various environmental and ecological problems that range from oil spills, gas flares, habitat destruction, air and water pollution, and land degradation. Also, a major cause of oil pollution in that same region is also to a great extent, from the activities of illegal oil bunkering and illegal refineries operated indigenes and some highly placed individuals in government. The chemical properties of spilled oil often affect the productiveness of soil and pollute water bodies, thereby causing irreparable damage to agricultural lands as well as aquatic bodies. Gas flaring is a significant environmental and economic problem in Nigeria emits approximately 70 million metric tons of carbon dioxide annually (US EIA1999). This adversely affects the socio-economic actives of local communities, which is primarily based on fishing and farming (Egunjobi, 1993). It is estimated that in one region alone in the Niger Delta, flaring is statistically likely to cause 49 premature deaths, 5000 respiratory illnesses among children and some 120,000 asthma attacks and 8 additional causes of cancer each year ( Environmental Rights Action and the Climate Justice Programme). Another major issue ravaging Nigeria is water pollution.
According to Anukam (1997), the main source of water pollution in Nigeria has to do with forestry activities. Deforestation and improper soil tillage practices increase the concentration of soil particles that make their way into water bodies and in turn increases their sediment loads. The discharge of industrial waste materials into bodies of water is another major source of pollution in Nigeria.
Discharges from industries such as petroleum, mining, iron and steel, pharmaceuticals, and textiles among others have increased the contents of sulfates and nitrates in water bodies and has altered properties such as color and odor (Adelegan 2004). A large percentage of Nigerians derive most of their domestic and drinking water from ponds, stream, and shallow wells. Hence, water pollution is a major health concern that places the health of about 40 million people at risk of diseases such as cholera, dynestery, diarrhea, and typhoid (Anukam 1997, Adelegan 2004, Orubu 2006).
Domestic and Industrial Waste has also constituted a major source of environmental pollution in Nigeria.
The improper disposal and ineffective management of municipal waste creates major environmental and aesthetic problems in most of Nigeria’s urban areas. Due to overpopulation and the creation of slums, most municipal areas currently generate more waste than they can manage (Ogbonna and Ekweozor 2002).
1.2 STATEMENT OF THE PROBLEM
Irrespective of the numerous environmental laws enacted to protect the environment, environmental degradation has continued unabated. Oils pillage and gas flaring activities are still commonplace in Nigeria, especially in the oil-rich Niger Delta. Gas flaring has also continued unabated irrespective of the Nigerian government’s directive to end flaring by 2010 (Kalu, 2009). Thousands of barrels of oil have been split into the environment through our oil pipelines and tanks in the country. Enforcement of environmental regulations is still poor as industries continue to discharge untreated waste water into the environment. Heaps of refuse are always a constant sight to behold in Nigerian streets and markets.
1.3 AIM AND OBJECTIVES
The aim of this research work is to examine the effect of environmental pollution on real estate development in Delta state.
However the objectives are as follows:
- To identify and examine the impact of environmental pollution on real estate development in Warri.
- To make suggestions/recommendations on how to address/reduce pollution of the environment.
- To identify the issues of environmental pollution in real estate development.
1.4 SCOPE OF THE STUDY
Inadequate finding has restricted the carrying out of a complete and comprehensive research on the effect of Environmental Pollution on Real Estate in all the oil producing state in Nigeria. Also there is the problem of distance coverage to visit all the communities within the study are for the propose of data collection. Based on this, Warri in Delta state will be the sitting of the study and all information gathered shall be generalized in the context of research report.
1.5 RESEARCH QUESTIONs
This research is carried out to find answers/suggestions to the following questions.
- To what extent has the Nigerian government program towards reduction of the effect of pollution on real estate been actualized?
- How has environmental pollution affected the value of real estate and as such discourage investors from real estate development?
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