Pre-Letting and Pre-Sale Financing Arrangements: An Assessment of Cost Effectiveness for Real Estate Development in Lagos Metropolis, Nigeria (Published)
Real estate development is capital intensive and hence requires a huge capital outlay and the onus of capital provision lies solely on the development firm. However, the largeness of projects usually makes equity insufficient, raising the need for firms to look outward for capital supply. With debt finance as the alternative, associated high cost of capital acquisition made it inaccessible to development firms. The recent attention-shift of real estate development firms towards pre-letting and pre-sale financing arrangements suggests the cost effectiveness of the arrangements over mortgage. However, despite the attention-shift, the cost effectiveness of pre-letting and pre-sale financing arrangements has been given little attention by the researcher. Hence, this study assessed cost effectiveness of pre-letting and pre-sale financing arrangements with a view to providing information that will increase the level of adoption, using selected properties in Lagos Metropolis, Nigeria as a case study. The cost effectiveness of the arrangements was assessed using three case studies analysis. One property in each of year 2018 (pre – COVID19), year 2020 (COVID19 period) and year 2021 (post – COVID19). Property details such as the number of units financed by pre-letting and pre-sale arrangements, units’ type (1-bedroom, 2-bedroom, 3 bedrooms, among others), number of units targeted for pre-letting and/or pre-sale, number of units eventually pre-let and/or pre-sold, duration of property development, annual rent of the pre-let per unit, price of the pre-sale per unit, among others were acquired from the firm’s record. In addition, commercial banks mortgage lending rates was retrieved from Central Bank of Nigeria website for year 2015 to 2021, and was used to capitalise the property rent and/or price.
Keywords: Lagos metropolis, Nigeria, cost effectiveness., pre-letting, pre-sale financing arrangements, real estate development
An Integration of Geophysics and Petrophysics in Study of Rock at Elete, Lokoja Southwestern Nigeria (Published)
Granitic Gneiss and Banded Gneiss make up the bulk of the local rock types, and quartz veins are the most common intrusions seen there. Tectonic upheavals in the earth’s crust are responsible for the region’s structural features, including as foliations, folds, joints, and fissures. The goal of this research is to integrate several scientific techniques to subsurface structure definition. For this study, 16 Vertical Electrical Sounding (VES), petrophysical study, and background knowledge of geology were used to delineate subsurface rock. The Schlumberger array with a maximum electrode separation of 300m was employed for VES. Elete’s true aquifer resistivity map shows that the South-Eastern and North-Eastern axis has relatively low resistivity values, which may indicate the presence of an aquiferous zone, while the North-Central and Southern regions have a wider range of resistivity values, which may not be consistent with a water-bearing zone. Additionally, petrographic analysis of the rock reveals that the mineral composition of Granitic Gneiss is Quartz (41.72%), Plagioclase (10.79%), Biotite (25.17%), Muscovite (19.42%), and Opaque (2.87%). While biotite makes up the granite gneiss. Biotite (45%), Muscovite (9.93%), Quartz (36.87%), Plagioclase (4.26%), and Opaque (3. 55%).Hydrogeologically, it stands to reason that Elete and its surroundings are situated in a region with medium to good groundwater potential based on the information at hand and the results of the geophysical investigation. Weathered/fractured basements are anticipated to contain productive aquifers.
Keywords: Nigeria, Resistivity, elete, gneiss, rock aquifer
Availability and Accessibility as Determinant Factors for Uptake of COVID-19 Vaccines among National Certificate of Education Students in Bauchi State, Nigeria (Published)
Uptake of vaccines is a long term preventive measures against any infectious disease, however it was observed that there was a low patronage of COVID-19 vaccines among the youth in Bauchi State. Therefore, the study assessed availability of Covid-19 vaccines and evaluates its accessibility as determinants of uptake among NCE Students in Bauchi State, Nigeria. Descriptive research design of survey type was used as research design, the population of the study comprised of 8,947 NCE students from the four public Colleges of Education in Bauchi State, Nigeria; the sample for the study was 650 NCE students selected through multi-stage sampling procedure of cluster sampling, simple random sampling, proportionate and convenience sampling techniques. The instrument used for data collection was a researcher developed questionnaire on 4points Likert scale, the instrument was validated by three experts in the field of Health Education for face and content validity; in the same vein, the reliability of the instrument was ascertained through a pilot study using test re-test method with 30 respondents, the result obtained was subjected to Pearson Product Moment Correlation, were a coefficient of .82 was obtained. Consent of the respondents was sought before the data collection; the data collected were analysed using one sample t-test. Findings of the study revealed that availability (p=.000) and accessibility (p=.000) were significant determinants of Covid-19 vaccine uptake among NCE students in Bauchi State. It was concluded that availability and accessibility to COVID-19 vaccines were very essential factors in determining the vaccine uptake. It was recommended that the vaccines should be made available in the College clinics of the State for easy access to students and other College community; this will go a long way in motivating them to patronise and use the vaccines.
Keywords: Availability, Bauchi state, Nigeria, accessibility determinant factors, covid-19 vaccines, education students, national certificate
Geochemical characterization of Egbetua stream sediments, southwestern Nigeria: implication for provenance and depositional conditions (Published)
The aim of this work is to determine the provenance, chemical index of alteration, elemental spatial distribution in the stream sediments, stream flow energy and the depositional conditions in the study area. The study area is located in Egbetua area in Akoko Edo Local Government Area of Edo State, Southwestern Nigeria. It is located on latitudes 07º 21’30’’N and 07º 22’N longitudes 06º 15’ 30” E and 06º 17’E and average elevation of 182 metres. Standard field and laboratory procedures were used in the study. Geochemical analysis was carried out using x-ray fluorescence method. Average concentrations of SiO2 (78.24 wt. %), Al2O3 (ca. 12.15 wt. %) and the chemical index of alteration (CIA) values of 68.90% indicate felsic granitic source rocks. Ce/Ce*, Eu/Eu* and (La/Yb)n ratios were used to deduce the prevailing reducing-oxidizing depositional environment of the sediments. Ce/Ce* (0.80) confirmed an oxidizing environment of deposition with low stream flow energy, while Eu/Eu* (0.07) corroborated an oxidizing environment with felsic source rock. (La/Yb)n (5.95) indicated an oxidizing environment in a low stream energy flow with coarse-grained and clay size sediment input.
Citation: Obaje O., and Pirisola A. O. (2023) Geochemical characterization of Egbetua stream sediments, southwestern Nigeria: implication for provenance and depositional conditions, British Journal of Earth Sciences Research, Vol.11, No.1, pp.17-30
Keywords: Egbetua, Geochemical analysis, Nigeria, major oxide, rare earth element, stream sediments
Analysis of Active Fire Protection Measures in Garki Model Market of the Federal Capital Territory of Nigeria (Published)
Fire outbreak in market places is a recurring issue in Nigeria, and it is a leading causes of lives and properties loss in Nigerian markets. In order to curtail this problem, an evaluation of active fire protection measures in Garki model market of the Federal Capital Territory (FCT) of Nigeria was conducted with the aim of generating guidelines that can reduce the spread of fire outbreaks in Nigerian markets. There are 1,430 sales points in Garki model market. Systematic sampling method was adopted for this study and it was applied at every 5th interval of sales points, in order to get the sample size; as a result of this, 287 sales points were selected. The primary research data were questionnaires administered to the sales people, and the direct observations of the current conditions of the market; likewise, 20 different focus group discussions were organised for the selected sales people. Also, interview questions were administered to the managing company of the market. Among the results are: fire protection devices in the market are not adequate; all the fire hose reels in the market are not in good condition; most of the sales people in the market do not know how to operate firefighting equipment because they do not respond to calls for training on how to use them. Among the recommended guidelines are: the adequacy and functionality of fire protection devices should be ensured by the government of Nigeria and the management authorities of markets in Nigeria; training for the sales people should be enforced by the management authorities of markets in Nigeria, in order to ensure that the sales people know how to operate firefighting equipment.
Keywords: Fire, Guidelines, Nigeria, Protection, markets
On The Genesis of Nsofang Marble of Ikom Area of Southeastern Nigeria (Published)
Physical, petrographical and geochemical data are used to constrain the mode of formation of low grade marble occurring in Nsofang and environs, in Ikom area of southeastern Nigeria. The presence of lamination, vug and cavernous structures as part of the physical features of the marble suggest possible formation at T < 100 °C under biological controls, induced during microbial metabolic activity. However, it appears this mode of formation is insignificant as the modal mineralogy of the rock frequently follow the trend: dolomite (90%) + calcite (5%) + quartz (<1%) + talc (<1%) ± phlogopite (<1%) ± Opaque mineral(s) (1%), reflecting impact of low grade metamorphism. The strong linear correlation existing between Mg/Ca and Mn/Sr components supports the participation of metamorphic dolomitization in the formation of the marble. Other elemental geochemical data revealed progressive replacement – type dolomitization as a component applicable mechanism. The intense volcanism associated with the Cameroon Volcanic Line (CVL) most likely drove the hydrothermal system and metamorphism that produced the dolomitization of precursor limestones. It appears the Cenozoic timing of the CVL coincided with the time of dolomitization, while the extrusive activities provided a source of heat and additional ions for the circulating seawater that drove the calcite-dolomite reactions of the replacement-type dolomitization model.
Keywords: Dolomite, Dolomitization, Hydrothermal, Mamfe, Marble, Nigeria
Background Geochemistry of Soil In Part of Girei District, Upper Benue Trough, N.E. Nigeria (Published)
Soil geochemical study aimed at determining the background levels of trace and major elements in soils of a relatively small part (MAUTECH Campus) of Girei District has been carried out. The results show that the contents of trace and major elements in the area are generally low and vary by factors ranging from about 3 times (As, V), about 4 times (Ni, W), about 6 times (Cd, Rb, Be), about 10 times (Cr, Ba, Br), about 7 times (Se), about 18 times (Mo), about 30 times (Co) and about 45 times (Pb). The low contents reflect the granites and migmatite gneisses bordering the study area and suggest that the soil was derived from these granites with little contribution from the mafic gneisses. Correlations amongst elements are significant at the probability level of 0.01. Among the major elements; Mg has a strong positive relationship with Ca (0.88), and Al (0.74) while Fe is also strongly related to Al (0.69). Several trace elements have very strong positive relationship with one another: Ba-As (0.91), Be-As (0.93), Be-Ba (0.91), Cs-Ba (0.91), As-Cs (0.85), Cr-Ba (0.85), Cr-Be (0.85), Cs-Be (0.88), As-Ce (0.94) and Cs-Cr (0.86). Mn and Mo are poorly related with most of the trace elements. Among the rare earth elements, Eu is strongly related to Dy (0.98), Gd (0.99) and Lu (0.96) just as Dy is strongly related to Er (0.99), Eu (0.98), Gd (0.98) and Lu (0.98). These strong positive correlations among elements suggest that chemical and physical factors control elements associations in parent materials and soil forming processes. Consequently, the data may serve as a reference standard in the assessment and monitoring of possible future environmental issues related to trace and/or major element contamination
Keywords: Background Geochemistry, Benue Trough, Girei, Nigeria
Determining the Individual Significant Contribution of Public and Private Sector in Housing Delivery in Nigeria (Published)
One of the greatest challenge confronting both rural and urban residents in Nigeria is the need to provide adequate shelter. This study examined the individual significant contribution of the public and private sector in public-private partnerships (PPP) in housing contracts in Ogun State, Nigeria. A field survey was conducted in government ministries (public sector) and some selected professionals (private sector) within the study area. Information gathered from both primary and secondary data was used to determine the significant contribution of the public and private sector in housing delivery. Questionnaires were distributed through systematic sampling method to 58 respondents in both private and public sector participating in PPP housing production in the study area. Result showed that the significant contribution of the public sector in PPP housing provision in Nigeria is the provision of land while the private sector contributes significantly high percentage of finance, manpower and technical support. The study recommended that for successful implementation of PPP housing projects, all tiers of government must strive to complement the weaknesses of the public sector with the strengths of the private sector. Furthermore, since the private sector provides bulk of the finance for PPP housing projects, government should provide a more conducive economic environment to attract more private sector investors.
Keywords: Housing, Nigeria, Public-Private Partnership (PPP), Systematic Sampling Method
Sustainable Development Strides in Nigeria: An Analysis of Climate Change Awareness and Environmental Sustainability (Published)
The paper x-rayed the sustainable development strides in Nigeria: An analysis of climate change awareness and environmental sustainability. It started by looking at the sustainable goals as enshrined in the Millennium Development Goals (MDG) and narrowed it down to environmental sustainability. Furthermore, the paper examined man’s destructive interference in the environment; delicate nature of weather and climate with a critical look at the ozone layer. Subsequently, the nature, causes and consequences of climate change were properly reviewed and man’s efforts to create its awareness and how to mitigate the challenges of the change. Finally, the paper stressed the need for environmental sustainability for the future generations through climate change education and the way forward.
Keywords: Climate Change, Environmental sustainability, Nigeria, Sustainable Development, awareness
SUBSURFACE GEOPHYSICAL MAPPING AND DRILLING OF ABA-ISU LIMESTONE DEPOSIT (SHEET 156E), SOUTH-EASTERN, NIGERIA. (Published)
Geoelectric mapping and drilling of Aba-Isu limestone deposit was carried out using a hybrid method, a combination of Wenner and Schlumberger resistivity techniques. The iso-resistivity maps indicated a roughly NW–SE trending of the limestone deposit. The resistivity values in the range of 40-260Ώm is inferred to be limestone with varying gradations, and relatively low resistivity values <40Ώm. Areas around the central line axis have resistivity values >100Ώm particularly for the “a” of 5m and 10m respectively and consistent and coincidental with the areas where the limestone massively outcropped. The study area indicated a 4-5 layer stratified alternating sequence of high and low resistivity horizons, the sequence start with high resistivity horizon with values >100 Ώm alternating with low-medium resistivity horizons with values in the range of 20-50Ώm. This sequence in 2 or 3 cycles and terminated by the highly conductive horizon with resistivity values of <20Ώms. The pseudo-sections, resistivity values greater 100Ώm are inferred as limestone, there is a consistency of these values on a trend coinciding with the central line axis. The same values are observed at various depths beneath the subsurface implying the occurrences of limestone which extend beyond 35m depth.
Keywords: Aba-Isu, Drilling, Geophysical Mapping, Limestone, Nigeria