HERITAGE RESOURCES AND SUSTAINABLE DEVELOPMENT: AN ANALYSIS OF THE ASSET VALUE OF HERITAGE SITES IN IBADAN, NIGERIA

Abstract

Heritage resources play a vital role in fostering sustainable development by preserving cultural identity, supporting economic growth, and promoting environmental stewardship. This study examines the asset value of heritage sites in Ibadan, Nigeria, with a focus on their contribution to sustainable development. A purposive sampling approach was employed to select five local government areas (LGAs) in the city’s core: Ibadan North, Ibadan North-East, Ibadan South-West, Ibadan South-East, and Ibadan North-West. A structured questionnaire was administered to 385 respondents, yielding a return rate of 366 (95%). Findings reveal varied opinions on the condition of heritage buildings across the selected LGAs. In Ibadan South-East, 52.4% of respondents reported that heritage buildings were in poor condition, highlighting significant neglect and decay. Conversely, higher proportions of respondents in Ibadan North, Ibadan North-West, Ibadan North-East, and Ibadan South-West described these structures as being in good condition, suggesting varying levels of maintenance and conservation efforts. The study further identifies the economic, social, and cultural significance of these heritage sites, emphasizing their potential to drive tourism, community engagement, and local development. The research underscores the urgent need for targeted preservation strategies to address the disparities in the condition of heritage resources. It advocates for inclusive policy frameworks that integrate heritage conservation into broader sustainable development goals, ensuring that these cultural assets are preserved for future generations while contributing to the economic vitality of Ibadan. The findings serve as a resource for policymakers, urban planners, and stakeholders in heritage management, offering actionable insights to harness the value of heritage resources in achieving sustainable urban development.