Browsing by Author "Nurudeen Akinsola BELLO"

Now showing 1 - 5 of 5
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    Adapting to Climate Change Flooding Impacts- A Guide for Achieving Sustainable Built Environment in Nigeria
    (Federal University of Technology, Minna, 2016) Nurudeen Akinsola BELLO; Adepoju, Adetoye Sulaiman ADEPOJU; Adekunle Sunday ADEOGUN
    Flooding is one of the climate change natural disasters generated by human activities which constitute a threat to human life, property and the built environment. Although risks from such cannot be fully eliminated, however, adaptation to climate change can reduce the exposure and vulnerability to extreme climate and sustain the built environment. This work surveyed literature on climate change flooding and its effects on Nigerian built environment to find out that most developed nations with longer water bodies and greater exposure to flooding disaster have been able to curtail the negative effects of climate change induced flooding over the years than Nigeria were able to minimize the negative effects of climate change flooding on their built environment whereas, Nigeria with comparable minimum and manageable length of water bodies continuously have higher negative impacts from flooding. The application of adaptation theory will mitigate against the effect of climate change flooding and lead to the achievement of a sustainable built environment in Nigeria. The work eventually recommended concerted efforts of all stakeholders in the built environment to cooperate among themselves for the actualization of gains of adaptation approach to climate change flooding in Nigeria towards achieving sustainable built environment.
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    Comparative Analysis of Attributes of Commercial Real Estate and Hotel Real Estate in Nigeria
    (The African Journal of Built Environment Research (AJoBER), 2018) Nurudeen Akinsola BELLO; Babatunde Koyejo JOLAOSO; Olusegun Olaopin OLANRELE
    Investment in real estate extends beyond property use on annual tenancy or short leases basis, but also includes the provision of accommodation with varied renting patterns such as short let and time share. Generally, hospitality industry comprises of commercial and non-commercial activities and services; it is an investment that is housed in a real estate asset that renders services in trade form. Technically, hotel investment is one of the breeds of real estate investment, but practically considered more as a part of the breed of pure business investment. This empirical work therefore highlighted and compared the attributes of hotel investment and commercial property investment measuring their performance through occupancy rate analysis. From a sample of 177 commercial properties and 70 hotel properties in the Central Business Districts (CBD) of Ikeja, Abeokuta, Ibadan, Osogbo, Akure and Ado-Ekiti; adopting a questionnaire survey on investment managers of these two property investment options. The research findings revealed that commercial and hotel properties have similarity in 4 of the qualitative variables and different in the remaining 8 variables. The study further revealed no significant difference in the occupancy rate of commercial property (0.89) and the hotel property (0.80) as reflected by the Kolmogorov Smirnof (K/S) two sample tests. Although this seemed to be the first comparative study of direct commercial property and direct hotel property investment attributes in Nigeria, it is concluded that hotel property could be a more attractive and better investment as revealed by the short-term advance payment attribute and its dynamic response to economic situation than the commercial property. It is recommended that subsequent study should extend to investment characteristics through trend analysis of return on these investments.
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    Implications of mass off-campus student housing at the University of Ilorin, Ilorin, Nigeria
    (Department of Geography of the Obafemi Awolowo University, Ile-ife, Nigeria, 2018) Yusuf Halim AGAVA; Nurudeen Akinsola BELLO; Abdulraheem, Maimuna Orire; Gowmbler W.N.
    There has been steady growth in the student population in higher education institutions (HEIs) in Nigeria. Efforts to accommodate most of students in various HEIs within the campuses have been very challenging. In this regard, this study examined the attendant implications of mass off-campus students housing at the University of Ilorin, Ilorin, Nigeria. The study adopted a survey and archival research approaches and used descriptive statistics to analyse the data collected. The study revealed that the total available bed spaces in the hostel on campus was about 5,000 with the private hostels contributing about 2,150 bed spaces to accommodate the undergraduate students whose population currently stood at 38,950 (excluding students of the College of Health Sciences-Basic Medical Sciences and Clinical Sciences) as at 2016/2017 academic session. Over 75% of these students lived off-campus. This situation has given rise to the mass off-campus student housing phenomenon. Identified implications of this mass off-campus student living included the ever-increasing house rents in the proximate neighbourhoods, inadequate security of students’ life and properties, lateness to lectures due to poor transportation network, compounding academic stress, and lack of basic infrastructure in the host communities compared to the university’s campus. In conclusion, student housing at the University of Ilorin was grossly inadequate and there were associated consequences which required immediate attention.
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    Investment property typology analysis: evidence from Nigerian urban property returns and macroeconomic variables
    (The African Journal of Built Environment Research (AJoBER), 2021) Nurudeen Akinsola BELLO; Yusuff Halim AGAVA; Olusegun Olaopin Olanrele
    The study examined the return characteristics of investment-properties on typology basis in Abuja, Nigeria and quantified the impact of macroeconomic-variables on the return. Quantitative primary and secondary data were gathered for the study. Structured questionnaire was administered on 420 investment-properties available in the portfolios of practicing Estate Surveying Firms (ESFs) in the study area. Both descriptive and inferential statistics were adopted for data analyses with mean, growth rate, standard deviation, correlation and regression coefficients. The result showed a constant yield range for the study area, but variations in the return, risk and return/risk among the property-types and a mixture of negative and positive relationships between/among the property-types. The result further showed that returns on most property-types do not correspond with their risks and detached house with boy’s quarter exhibits an out-performance over all other property-types. However, in relation to the economy, property-return exhibits a strong negative relationship with the currency exchange rate and a weak negative relationship with interest rate, but none of the macroeconomic variables statistically explain or drive return on the property. This study contributed to the literature on Nigeria property-investment analysis by providing guiding information for a better knowledge of the Abuja property market dynamics that can enhance decision making of investors towards an improved market rewards analysis. Despite the observed variations in the return characteristics in the study area, an appropriate mix of property-types can still bring about improved performance benefit to the investors. The study is beneficial to investors through reduction in the wide gap between investment expectation and actualization through appropriate and specific investment prescriptions. The notable variation between the yield and return on property suggests that investors cannot rely solely on the yield of an investment analysis as their investment guide, rather they should extend to the reward characteristics. This is one of the few studies on Abuja direct property market reward analysis on property type approach that explored the sensitivity of property return to the Nigeria economy.
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    The Economics and Laws of Real Estate
    (University of Ilorin Publisher, 2021) Nurudeen Akinsola BELLO