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The results of a magnetic study of the Okenugbo Area of Ago-Iwoye, Southwestern Nigeria are presented for the evaluation of the geostructural settings in the area to determine the competency of the basement for building constructions. The study area lies within Longitude N 06°55.389 - N 06°55.384 and Latitude E 003°55.001 and E 003°54.959 in the basement complex of Nigeria. Three magnetic profiles were established for the evaluation and the magnetic anomaly map, the regional geology and its analytic signal amplitude helped in identifying the nature and depth of the magnetic sources in the study region. The magnetic residual values range from -2400 nT to +1800 nT. The area shows magnetic closures of various sizes at the Western part of the study area trending West with prominence at the center and distributed East-West which has been interpreted as fractured or faulted zones. The depth estimate revealed the apparent depth to the causative body from the surface and the basement depth range from 4.3 to 21.3 m which agrees with other literatures. The study has revealed that the area is generally competent for high rise structures and industrial site while the faulted/fractured zones are prospective better locations for hydrogeological purposes.

Geophysical Evaluation of Magnetic Data of Okenugbo Area, Ago-Iwoye, Southwestern Nigeria