ECONOMETRIC ANALYSIS OF AGRICULTURAL LAND VALUES IN IMO STATE, NIGERIA (A HEDONIC PRICING APPROACH)

Overtime, land values have continued to diminish due to unsustainable land management practices engaged by the
farmers. This study evaluated the econometric analysis of agricultural land values in Imo State, Nigeria. Multi-stage
random sampling technique was used to select 75 farmers for the study. Information on the objectives of this study
was elicited from the sampled respondents through a well structured questionnaire and interview schedule. Data were
analyzed using descriptive statistical tools, and multiple regression models. The socio-economic features of the
farmers reveal a mean age of 58 years, 12 years educational attainment, 5 persons per household, 15 years farming
experience, and a mean farm size of 1.07. Results further showed that Owerri zone recorded the highest land values
across the zones, the land values (Ha/farmer) from the zone was N278, 193.52 which is considerably higher than
other land values obtained from Orlu and Okigwe zones respectively. Double-Log function was selected as the lead
equation and was used to interpret the factors influencing land values across the three agricultural zones in the State.
Hence efficient land management practices such as (organic manuring, crop rotation, alley cropping, etc.) were
recommended for the farmers to improve land value in the area