ECONOMETRIC ANALYSIS OF AGRICULTURAL LAND VALUES IN IMO STATE, NIGERIA (A HEDONIC PRICING APPROACH)

Published in Scientific Papers. Series "Management, Economic Engineering in Agriculture and rural development", Vol. 17 ISSUE 3
Written by Nnamdi Chukwuemeka EHIRIM, Emeka OSUJI, Uchechi ANYANWU, Melissa OKWARA

Overtime, land values have continued to diminish due to unsustainable land management practices engaged by the farmers. This study evaluated the econometric analysis of agricultural land values in Imo State, Nigeria. Multi-stage random sampling technique was used to select 75 farmers for the study. Information on the objectives of this study was elicited from the sampled respondents through a well structured questionnaire and interview schedule. Data were analyzed using descriptive statistical tools, and multiple regression models. The socio-economic features of the farmers reveal a mean age of 58 years, 12 years educational attainment, 5 persons per household, 15 years farming experience, and a mean farm size of 1.07. Results further showed that Owerri zone recorded the highest land values across the zones, the land values (Ha/farmer) from the zone was N278, 193.52 which is considerably higher than other land values obtained from Orlu and Okigwe zones respectively. Double-Log function was selected as the lead equation and was used to interpret the factors influencing land values across the three agricultural zones in the State. Hence efficient land management practices such as (organic manuring, crop rotation, alley cropping, etc.) were recommended for the farmers to improve land value in the area.

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EHIRIM N.C., OSUJI E., ANYANWU U., OKWARA M. 2017, ECONOMETRIC ANALYSIS OF AGRICULTURAL LAND VALUES IN IMO STATE, NIGERIA (A HEDONIC PRICING APPROACH). Scientific Papers. Series "Management, Economic Engineering in Agriculture and rural development", Vol. 17 ISSUE 3, PRINT ISSN 2284-7995, 113-120.


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Copyright 2012. To be cited: Scientific Papers. Series “Management, Economic Engineering in Agriculture and Rural Development“
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