Paper: Contextual Insights into Land- Based Municipal Infrastructure Finance Mechanisms
Abstract: The generally deplorable conditions of public infrastructure and services in developing nations have continued to be a major subject of discourse in academia, industry and policy debates. A major cause of this problem is inappropriate finance mechanisms. Land based financing mechanisms remain sustainable tools for solving the infrastructure deficit in the region but remain perhaps the most under-utilized methods of infrastructure finance, due to faulty policies and structures. The bases for adopting land based financing approaches are primarily founded on the responsiveness of land and real estate values to the level and quality of public infrastructure provided. This is because of the positive relationship between public infrastructure and real estate values. However not all land based financing mechanisms work well under all conditions. This study makes a nouvelle attempt at carrying out an investigation from literature, the best circumstances under which each mechanism thrives. It also discusses the factors that make or mar the performance of each mechanism under the specific circumstances of Lagos, Nigeria. As such, better insights will be provided for decision making at policy level as a panacea for sustainable growth in the public infrastructure development sector.
Biography: Funlola Famuyiwa is a lecturer at the Department of Estate-Management, University of Lagos, Nigeria. Her research interests include Environmental Valuation and Land Economy, with particular focus on physical infrastructure of urban areas in developing countries. She has written and presented various research papers at local and international conferences and has authored several publications in learned academic journals. She has taught Urban Economics, Real Estate Feasibility & Viability studies, and Statistics courses, and has served on various academic committees.
