Posted: 2023 | Pages: 109 | Format: MS Word | Chapters: 1-5 | Others: Questionnaires & References

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ABSTRACT

The Niger Delta is regarded as the largest reservoir of Crude Oil in Nigeria and at the same time have experienced oil exploitation activities for many decades. This study assesses the impact of crude oil exploitation on landed property values in Eleme town of Port Harcourt with perception of the impacts of these activities on their environment, health, farmlands and landed property values. Shell British petroleum (now Royal Dutch Shell) first discovered crude oil at a village in Bayelsa in 1956 and commercial production began in 1958. Oil exploitation has led to series of problems faced by the oil bearing towns, its adverse effects on human lives, farming activities, landed property etc have been in the increase over the years, thereby causing loss of values in terms of property due to oil spillage and exploitation activities and causes loss of lives as well. The researcher’s aim is to identify how the activities of oil industry affect land and landed property values in Eleme, to determine its effects on landed property etc and to also put up a solution that may help in dealing with these problems and in order to achieve this, four research questions were raised by the researcher. In carrying out this research, the research design adopted by the researcher was case study and survey method; whereby a population of 570 people, made up of residential and commercial occupants, land owners and staff of the oil companies were used. A sample size of 410 respondents were selected using Taro Yamane’s model while samples were chosen using stratified random sampling technique. Data collected from use of questionnaires were presented using tables, bar charts and pie charts and were analyzed using percentages and frequencies. It was observed and found out that crude oil industries in Eleme town has constantly led to loss of capital/rental values in properties and causes oil pollution because of the oil exploitation activities that mostly result to fire outbreak from oil spillage and it was recommended that the federal government, together with the oil companies should boost up scholarship schemes to help educate the youths in the region.

CHAPTER ONE

• INTRODUCTION

The common reference to Oil as “black gold” is opt apart from the fact that gold connotes wealth and what is worthwhile. Nigeria has experienced this dual appellations ascribed to oil because crude oil has brought a lot of wealth to the nations, as it is a major foreign exchange earner for Nigeria. It has boosted the economy by reducing unemployment, provided raw materials for local industries and for export. Though the oil industry is an enclave economy, it has never the less provided some forward and backward linkages in the economy. Indeed, since the 1970s, oil has remained the Lich-pin of the nation’s economy life, powering growth and development.

While the benefits of the oil industry is not in doubt, the exploitation, development and production of oil and gas generate waste which affect human lives and property values as well.

This research work therefore is an attempt to assess the impact of crude oil exploitation on landed property values in the Niger Delta.