Economic Valuation of Poor Road Infrastructure Lagos: A Focus on Urban Households

The inefficiency and lack of urban transport services and infrastructure is a major impediment to economic growth and urban productivity in cities of developing countries like Nigeria This study is aimed at assessing the impact of poor road infrastructure on urban households using environmental valuation techniques The study is based on a survey research carried out with the distribution of structured questionnaires to 1040 households in eight metropolitan local government areas namely Alimosho Apapa Eti-osa Ikeja Kosofe Mushin Shomolu and Surulere in Lagos State to elicit information on current condition of infrastructure in the area household consequential cost due to poor road condition willingness to pay for improved road condition preferred service option for road infrastructure Analysis was carried out using descriptive statistical tools Results from the study shows that urban roads in Lagos are in a deplorable condition and households suffer a lot of consequential damages arising from it The results also show that households are willing to pay for improved road conditions The paper recommends that the government should formulate a good infrastructure policy that will enhance the sustainability of infrastructure over time and should also encourage public participation in urban infrastructure provision and maintenanc

Solid waste recycling with Higher Education in developing countries : a case study of the University of Lagos

To create a truly circular economy requires a shift from the traditional view of waste disposal to one of resource management. This is particularly important in developing countries, where municipal waste generation is increasing, and efficient recovery of economic value from waste is rarely achieved. Conducted in the University of Lagos (UoL), Nigeria, this study investigated the efficiency of a recycling scheme with the goal of making recommendations to improve the process. UoL’s recycling policy centers around source segregation of waste into color-coded bins. Waste audit was carried out using the output method and interviews were conducted with staff from the waste management team to understand practices on campus. Substantial contamination of colored bins with non-target material was observed. Organics (30%), mixed plastics (28%) and paper (24%) were the most abundant materials, hence have the greatest potential for recovery, and income generation, if segregation rates could be improved. Despite its recycling policy and infrastructure, 99% of UoL waste was going to landfill. Poor policy implementation results in low recovery rates. Targeted waste reduction and increased material recovery would enhance efficiency. Improved awareness of recycling benefits, in addition to policy enforcement, could serve as tools to increase stakeholder participation in recycling

Willingness to Pay for Sustainable Features in Prime Residential Submarkets of Lagos

In this study, I examine the market potential for various sustainable features by residents in Lagos prime residential submarket in the context of their willingness to pay (stated and revealed preferences) for green features. The study is of great significance as Nigeria is likely to produce a green building policy and certification standard in the near future through the Green Buildings Council of Nigeria. Data were obtained through the distribution of 150 questionnaires to households and evidence of lettings in Ikoyi and Victoria Island, the two prime residential neighborhoods in Lagos. The findings show that occupiers are willing to pay for sustainable features. The findings also indicate that poor electricity provision, dark staircases, and poor indoor air quality have a negative effect on rental price

Standardization of Plant and Equipment in a Developing Country; Techno-Economic Considerations

Standardization is critical in the promotion of “uniformity, consistency, reliability, public trust and international acceptability in valuation reports. Globalization has linked the world economy more closely than ever before as financial crisis in one country may likely have a ripple effect on other countries. In this regard each country must align its valuation standards with global expectations particularly in the valuation of plant and equipment. This paper is aimed at evaluating the extent of compliance to valuation process amongst Nigerian Estate Valuers with respect to plant and equipment valuation with a view to enhancing uniformity and reliability. A content analysis of valuation reports from randomly selected 26 firms in Lagos was carried out. The reports were evaluated to verify if they are in sync with acceptable valuation process and standards. Findings from the study showed that most of the reports are scanty in content with respect to machine capacity, serial and model number, make of machine, type of defect, basis and method of valuation among others. The paper recommended a more intensive training of valuers and an urgent need for specialization and production of a comprehensive valuation standard and manual to address these shortcomings