The land in the CBD is between giant

The central business district is located in Victoria Island. As one moves away from the CBD, the road networks and building structures start to wear off. For example, the house in the picture above is deteriorating, as there is no incentive to repaint it or reconstruct it. Also, pollution and transportation cost increases as one moves away from Victoria Island.  All industrial, commercial and other business concerns within Lagos Metropolis and those located in other parts of Nigeria maintain either their head office or a representative mission in Victoria Island. Competition for land in the CBD is between giant indigenous and foreign firms (Nwafor, 1986).  It regulates all facets of life in Lagos to the point that one has the impression that the entire population moves to the CBD by day and returns to the various residential districts at night. (Nwafor, 1986). Unlike the other counties in Lagos, the Central Business District seems to adhere to  zoning restrictions. In the commercial district, no landowner would sell a land for residential purposes because it messes with the traditional setting of Victoria Island. The effect of zoning restrictions in the Central Business District is colossal. It attracts more residents, it increases the rent bid, and decreases externalities from polluting industries.  Housing development involving renewal or construction on new sites has improved the quality of many residential sites in Victoria Island. Residential sites are constantly revitalized to maintain its resident interest in living in the Central Business District. With the presence of a zoning restriction in Victoria Island, those in the residential zones are often free from experiencing pollution that people in Ketu would otherwise face. The zoning restriction success in the Central Business District, Victoria Island ought to be applied to other counties in Lagos to allow for development and revitalization of the area that would induce higher housing prices, attract new residents and increase formal commercial activity.


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