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1.1 BACKGROUND OF THE STUDY
Land is a natural resource which is physically fixed. It is the most fundamental basic resource around which our social structure revolves. Every activity requires the use
of land and this makes land the most valuable asset of man. There is an intimate relationship between man and land. Man has maintained a close contact with land which provides him with virtually all he needs for his sustenance. The survival of man depends on the availability of land and his ability to acquire and exploit it to satisfy his seemingly endless needs. This ability to acquire land is sometimes limited or hindered by social, legal, environmental and technological constraint both in the public and the private sectors of the economy. For the fact that individuals, governments and organizations need land, there has been great demand for the acquisition, use and development of land and it has not been easy to meet this demand. In the same vein, Real Estate Development and use of land are prompted primarily by the products and satisfaction that could be derived therefrom. The problem of real estate development in Nigeria started during the Colonial period and was inherited by the Post Colonial Nigerian Government. Inspite of the efforts of both the colonial and the post colonial governments to solve the problem of Real Estate Development in the country, they remained unresolved till date. Government all through the ages has recognized that land is an indispensable resource in a nation’s economic and social development. Over the years, different communities have made enactments respecting how land should be owned, developed and managed. In other words the use to which land should be put, the nature and extent of development to be carried out thereon and indeed all decisions affecting land are dictated by the land laws of the country.