Economic Impact Appraisal of Municipal Solid Waste Dumpsite on Nearby Properties using Hedonic Model

Scientific Study from the year 2018 in the subject Sociology - Individual, Groups, Society, grade: A, language: English, abstract: The disposal of municipal solid waste in dumpsites located near to existing properties is a serious problem in developing countries, and littering of MSW is common in the streets that does not have adequate final disposal and responsible for serious negative impacts human health and the environment. This work studies the off-site economic impact of solid waste dump on value of nearby residential properties with particular reference to Offa metropolis, Kwara state, Nigeria. The study hypothesized that solid waste dumpsite has no significant effect (positive or negative) on the values of its proximate properties. The hypothesis is tested with a standard hedonic pricing model using a sample of 450 respondents across the study area. The F- statistics for the model are highly significant at the 1% level, and R2 values are high in the model suggesting that a very high significance could be placed on the results and that the eight housing attributes considered sufficiently account for variation in apartment rentals the study area. Out of the eight explanatory variables used in the analysis, five of them show positive signs of considerable impact on rent apartment price. The findings in this work suggest that waste dumpsites within fully developed residential area should be closed down and relocated. It is further suggested the need to introduce a recycling programmes through modern methods with a view of turning waste to wealth in the study area as it has being practiced in neighboring State of Osun, Nigeria.