CHAPTER ONE
1.0 INTRODUCTION:
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 ’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.
1.
Will agricultural investment reduce
the increase of unemployment in the country?
2.
Is there any formal training for
investors?
3.
can the investors in agricultural
properties receive any grant, from he government?
4.
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.
1.6 LIMITATIONS OF THE STUDY
Some
unavoidable limitation encountered by the researcher when conducting the
project have hindered a comprehensive research work. These includes:
1
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.
2
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,