Chapter One — 1.1 Background to the Study

Over the past decade, the relationship between real estate investment trusts (reits) and rental income yield has become a subject of considerable debate among scholars and industry practitioners alike, particularly within the context of Nigeria and Selected ECOWAS Member States where operating conditions differ markedly from more developed markets.

Within the context of Nigeria and Selected ECOWAS Member States, this relationship carries particular significance. Organizations in this setting operate under a distinct combination of economic, regulatory, and market conditions that may amplify or dampen the effect of real estate investment trusts (reits) on rental income yield, making a context-specific inquiry both timely and necessary.

1.2 Statement of the Problem

While real estate investment trusts (reits) is widely discussed in policy and industry circles, empirical evidence on its actual effect on rental income yield within Nigeria and Selected ECOWAS Member States remains sparse and, in places, contradictory. This lack of localized, rigorous evidence makes it difficult for decision-makers to know with confidence whether current approaches to real estate investment trusts (reits) are helping or hindering rental income yield — a gap this study sets out to close.

1.3 Objectives of the Study

1. To examine the effect of Real Estate Investment Trusts (REITs) on rental income yield in Nigeria and Selected ECOWAS Member States.
2. To assess the extent to which real estate investment trusts (reits) influences rental income yield within the study area.
3. To identify the challenges associated with real estate investment trusts (reits) in relation to rental income yield.
4. To recommend strategies for optimizing real estate investment trusts (reits) in order to improve rental income yield.

1.4 Research Questions

1. What is the effect of real estate investment trusts (reits) on rental income yield in Nigeria and Selected ECOWAS Member States?
2. To what extent does real estate investment trusts (reits) influence rental income yield within the study area?
3. What challenges are associated with real estate investment trusts (reits) in relation to rental income yield?
4. What strategies can be adopted to optimize real estate investment trusts (reits) in order to improve rental income yield?

1.5 Significance of the Study

This study is significant to a range of stakeholders. For policymakers and regulators, the findings offer evidence to guide the design of frameworks that support healthier outcomes around rental income yield. For managers and practitioners within Nigeria and Selected ECOWAS Member States, the study provides practical insight into how real estate investment trusts (reits) can be better managed. Finally, it contributes to the academic literature on estate management by extending existing knowledge into a specific empirical context, and offers a reference point for future researchers.

1.6 Scope of the Study

The study is limited to an examination of Real Estate Investment Trusts (REITs) and its relationship with rental income yield within the context of Nigeria and Selected ECOWAS Member States. It reflects a clearly defined scope of analysis and relies on data and perspectives available within that scope; generalizing the findings beyond this specific context should therefore be done with appropriate caution.