INVESTMENT IN AGRICULTURAL PROPERTY AS A CATALYST IN ORUMBA NORTH L.G.A OR ANAMBRA STATE
Investment in agriculture was purely on subsistence basis in the past until recent when it has been operated on large scale. It is a booming venture in developed countries of world. In Nigeria, it is mainly focused on cash crops. Live stocks, fishery. Wood lands pasture lane etc. Most of them are owned by government and their agents. The emphasis and campaign placed on agricultural property investment has made individuals to embark on such venture. Due to the fact that the benefit derived from agriculture and numerous, the government has started giving proper attention to investing in agricultural properties rather than hoping on oil for the economy. In this project research work, the main objectives are to discuss, on the investment in agricultural properties as a catalyst in Orumba North local Government Area, the types and their importance the impacts, problems affecting it etc. Going by the widely prevalent thirst are urge for investing in agricultural property however, my recommendations are conclusion are very lively to favour the positive effects.
1.1 BACKGROUND OF THE STUDY
Investment in agricultural property is not advanced as that of developed countries of the world. Agricultural property investment amounts to all investment operation in such property as cash crops, livestock, pasture land, cottage etc.
Nigeria generally is blessed with fertile and large area of land with abundant human and natural resources, which if harnessed effectively under the guide and supervisor of the experienced property manager (Estate surveyors) will help a lot in solving the battered economy of Nigeria.
Inspite of the numerous benefit derived from agricultural properties, Nigeria still give it little attention they keep on hoping on crude oil for the economy instead of diversifying her investment in other resource like Agricultural property.
With the benefit ard returns realizable form the investment in agricultural properties, it will serve as an alternative. Sources of life and a catalyst for speeding development of rural areas.
1.2 STATEMENT OF PROBLEM
Investment in Agricultural properties in rural areas amounts to under utilization of both natural and human resources to boost the increase in production of food and cash crops etc in large quantity.
This work is made to know how agricultural investors would achieve their objectives. It will be shown that agricultural property investment is a worthwhile and beneficial venture forming the catalyst to rural development and economic revetry of Nigeria’s battered economy.
1.3 RESEARCH QUESTION
Due to some hindrance encountered in agricultural investment in some area: the following questions were emanated on its effect to the area of study.
- Will agricultural investment reduce the increase of unemployment in the country?
- Is there any formal training for investors?
- can the investors in agricultural properties receive any grant, from he government?
- What are the major problem facing the investment in agricultural properties?
1.4 PURPOSE OF THE STAUDY
The main purpose of this research work of agricultural investment as a catalyst to Orumba North Local Government area centers of the following:
i To assess agricultural property investment as a catalyst to rural, development.
ii To assess different investment as an agricultural property.
iii To examine investment in agricultural properties in order to assessing the benefits.
iv To examine the problems facing the investors in Agricultural property.
v The make recommendations on how the agricultural properties can be handled in order to make the best use of it.
1.5 SIGNIFICANCE OF THE STUDY
This project work is basically concerned on the returns from investment in agricultural property, therefore, every effort is eared to explore and expose some.
To that effect, the study limit itself within the bounds of investment operations in agricultural properties in Orumba North local government area. it does organized in such a way that the study is made on specific benesity from the government and individual or private investors point of view.
LIMITATIONS OF THE STUDY
Some unavoidable limitation encountered by the researcher when conducting the project have hindered a comprehensive research work. These includes:
- Time Dimension: The time factor has a serious input in conducting this research work. Time lay between the short academic calendar makes the researcher to rush the work thereby boycotting some necessary findings.
- Lack of finance: Since the research work being done within limited income while there is a drastic increase in the cost of terms like transportation fare, typing and binding. These are the major expenses involved in it which has to be limited to the available income.
1.7 DEFINITION OF TERMS
INVESTMENT: This is the giving up of a capital sum in return for an income or benefit to be derived periodically. At times, the return is a lump sun or in a non-monetary form (benefit).
AGRICULTURE: This means as the cultivation of the land for the purpose of producing food for man, feed for animals and raw materials for industries.
PROPERTY: This is the right an individual or group of individual exercise over a thing. It includes the exclusive right to use, possess and exclude others.
AGRICULTURAL PROPERTY INVESTMENT: This is he operation on such properties as cash crops. Livestock, pasture lane, cottages and farm, houses, dairy and arable faming and fishing.
RURAL AREA: It refers to that portion of area which are situated outside urban and cities location. Rural areas are predominantly undeveloped lands occupied of green or natural environment viably grass, forestry etc.
DEVELOPMNET: This is a systematic enrolment of potentialities of a thing. For example land.
RURAL DEVELOPMENT: This term is used to improve the economic and social life or the people the rural area such as housing, electricity, water,
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Obinwa I.N. (2011) Land use Economics Unpublished Lecture Note management and valuation. Federal Polytechnic, Oko Department of Estate.
Olatoye .O. (2011) “Agriculture as Nigeria moves to diversity Economy” Online publication.
Oluwatomi, (2012) Agricultural Investment Unpublished
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