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The Impacts Of Urban Growth On The Commercial Property Investment
[A CASE STUDY OF KWARA STATE POLYTECHNIC, ILORIN]
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[1.8] DEFINITION OF TERMS
Investment: The money that people or organizations have put into a company, business or bank in order to get a profit or to make a business activity successful. Willing made a number of high risk investments in the property market during the late 80’s.
Urbanization: the development of town or city areas and the increasing proportion of man’s ability to fashion the physical, economic and social world in which he lives. Urban areas are thus very much a human invention which man has evolved as a mean of organizing his existence. There are many problem involved in defining the term urban area. Depending upon the point of view from which a study is being made the urban area may refer to the physical and geographical thinks of an urban area one has in a limited area and are separated form other such centers by a much greater area of thinly settled land. Also the residents of such places are normally, although not wholly, engaged in non-agricultural occupations. Thus urban areas have important functions connected with those manufacturing and services activities which are performed from centralized locations. This would cover the case of an urban area whose functions were primarily the provision of services for the surrounding agricultural area. Furthermore, through out this and the following part of the book other terms urban area, city and town are used to mean the same thing.
Property: The thing or things that someone owns a word meaning a building, a piece of lands, or both together used especially lawyers or Estate agent.
1.2 GEOGRAPHICAL SETTING
Offa local government Area was creating in 1991both the head quarter of Offa.
The local government has the 10 (ten) wards district Offa, Road distance from the state capital to Offa local government area is 56km.
Population 74, 924 (Male 36, 727 and Female 38, 197) 2006 census
ii. Major towns; Idi Ogun, Igbo Oran, Owode Oja Market
iii. Natural resources: Maize, Sweet potatoes
iv. Major Language: Yoruba
vi. Gronite
vii. Major festival: Egungun, Agere, Yan festival
viii. Tourist attraction: Onimokasshrine of Olofa Palace.
1.7 HISTORICAL BACKGROUND
Offa is a major town in South West of the Niger in Nigeria. It is location in the South Easter part of the Kwara State.
The town was founded by hunter Obalomi Olofagangun, sometimes in the 14th century the people of Offa are descendants of Oduduwa and speak Yoruba, one of the three major languages in Nigeria history has it that Olofagangun left Oyo and settle in several palace until be finally arrived at the present of Offa.
Olofagangun was hunter and has first settlement was near a river called “Maika†as a hunter town in the old Oyo empire, Offa features in an intra and wider tribal wars and defended itself against the Nupe and Fulani, Olofagangun died a Offa Esun in the recurs course of his migration. Offa as a town as eventually named, was hunting activities. The weapon is a bow and arrow called Olofa in Yoruba Language. Ibolo dialet speak comprises of people of the surrounding town and village within the state of Kwara State the neighboring Osun state.
The people of Offa celebrate a host of arrived festival including Orumoka, the most famous of these festival is celebrated by Offa gathered at the town square, to witness a blind folded man slices a yam tuber into two equal part, with miraculous provisions, in high point during festival is ceremonial wresting when the Offa and Essa-one of he chiefs another important aspect of the Onimoka a festival is the celebration of “Moremi†deity legend has it that Moremi was married to the dove of life from peace and prosperity. Perform rituals ad make offering to the spirit of Moremi Egungun (masquerades) festival is celebrated with youth in colorful mask and robes entertaining the people by making round at various locations in the town they are rewarded with cash gift, for the performance, the Egungun also offer prayer and blessing to their benefactors and the town in general.
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