Effect Of Environmental Pollution On Real Estate Development

1.2 Statement of the Problem

Irrespective of the numerous environmental laws enacted to protect the environment, environmental degradation has continued unabated. Oils pillage and gas flaring activities are still commonplace in Nigeria, especially in the oil-rich Niger Delta. Gas flaring has also continued unabated irrespective of the Nigerian government’s directive to end flaring by 2010 (Kalu, 2009). Thousands of barrels of oil have been split into the environment through our oil pipelines and tanks in the country. Enforcement of environmental regulations is still poor as industries continue to discharge untreated waste water into the environment. Heaps of refuse are always a constant sight to behold in Nigerian streets and markets.

1.3 Aim and Objectives

The aim of this research work is to examine the effect of environmental pollution on real estate development in Delta state.

However the specific objectives are as follows:

1. To identify and examine the impact of environmental pollution on real estate development in Warri.

2. To make suggestions/recommendations on how to address/reduce pollution of the environment.

3. To identify the issues of environmental pollution in real estate development.

1.4 Research Questions

This research is carried out to find answers/suggestions to the following questions.

1. To what extent has the Nigerian government program towards reduction of the effect of pollution on real estate been actualized?

2. How has environmental pollution affected the value of real estate and as such discourage investors from real estate development?

3. What are the solutions to the challenges of environmental pollution on real estate development?

1.5 Research hypotheses

The study developed the following hypotheses:

H0: There is no significant impact of the government programs towards pollution reduction.

H1: There is a significant impact of the government towards pollution reduction?

H0: There is no significant relationship between pollution and the value of estate development.

H1: There is a significant relationship between pollution and the value of estate development.