Regulatory Framework for Land Banking by Private Estate Developers in South West Nigeria

The purpose of this paper was to analyse the legal framework governing land banking by private property developers in South West Nigeria, pointing out any inefficiencies or gaps that impede the development of sustainable urban areas. The study aimed to provide useful suggestions for improving land banking strategies in the area. Using a qualitative research design, the methodology entails a thorough analysis of academic databases, literatures, industry reports, legal papers, and government laws. The study uses thematic content analysis to compare best practices from different regions and find common themes and patterns in the regulatory environment. The results show that there are no special provisions for land banking in the current regulatory framework. This results in corruption, inefficient administration, and inadequate alignment with urban planning. A price hike prices, speculative land holding, and obstacles to real development initiatives are all caused by these problems. The study concludes by highlighting the pressing need for changes to bolster the laws governing land banking. Among the suggestions are modifying current legislation, promoting public-private partnerships, and increasing transparency through digital land registers. By tackling these issues, the region can encourage sustainable urban growth, increase private estate developers' operational effectiveness, and eventually help South West Nigeria reach its larger objectives for social and economic development.