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INTRODUCTION
While decent housing is important to every individual and nation, housing crisis remains one
of the global problems and a grave and rising challenge facing both urban and rural
residents, particularly in most developing countries. Thus, in spite of a number of political,
social, and religious initiatives taken in the past in some of these developing countries, a
great proportion of their population still live in substandard and poor houses and in
deplorable, unsanitary residential environment. In Nigeria, though housing provision by the
government commenced before the country got her political independence from Great
Britain on October 1, 1960, the housing problem in Nigeria still remains intractable as many
rural and urban populations in the country do not have access to decent, safe, and
affordable housing. This paper attempts to show an overview of the affordable housing
delivery strategy taken by government and private enterprises in Nigeria over the years,
revealing that Nigerias impressive housing policies and programs are rarely implemented or
haphazardly implemented. The housing delivery strategy in the country is, therefore, a
classical example of politics of many words, but little action. The paper suggests that urgent
steps need to be taken to bring about the much needed improvement and transformation in
the Nigerian housing sector. It also advises the government to back up its many lofty
initiatives and efforts with necessary political will and commitment, using cooperatives,
development agents, and partnerships through Public Private Sector Participation (PPP).
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STATEMENT OF THE PROBLEM
Housing (adequate shelter) is recognized world-wide as one of the basic necessities of life
and a pre-requisite to survival of man (Onibokun, 1983; United Nations, 1992; Salau, 1990).
A house is a place in which it provides shelter, refuge, scomfort, security, and dignity. The
housing industry can be a stimulus to national economy (Onibokun, 1983). A house also
provides the physical framework in which human, social, economic, and cultural resources
are realized, enriched, and integrated. In the traditional African setting, in particular,
housing is, in fact, one of the greatly cherished material properties. This is because of the
other functions that a house performs in the traditional society includes the protection of
family cohesion and values, taking care of the aged through the extended family system,
and the protection of the ancestral values, among others. Thus, the importance of providing
adequate housing in any country cannot be overemphasized. However, in spite of the
fundamental role of housing in the life of every individual and the nation, and in spite of the
United Nations realization of the need to globally attain adequate shelter for all, the
housing crisis remains one of the Journal of Sustainable Development in Africa (Volume 12,
No.6, 2010)ISSN: 1520-5509Clarion University of Pennsylvania, Clarion, Pennsylvania global
problems and a grave and rising challenge facing both urban and rural residents, particularly
in most developing countries. It is generally estimated that the world needs to house an
additional 68 million to 80 million people (Awake,2005). According to the United Nations
Population Fund (Wikipedia, 2003), world population passed 6.1 billion in 2001 and it is
expected to reach between 7.9 and 10.9 billion by 2050. Over 90% of the growth during the
next two decades is forecast to occur in the developing countries.
Those estimates represent a formidable housing challenge. The situation even becomes
more serious and worrisome when one realizes the fact that despite a number of political,
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social, and religious initiatives taken in the past in some of these developing countries, a
large proportion of their population still lives in sub-standard and poor housing and in
deplorable and unsanitary residential environments. This is particularly so in Nigeria, where
housing provision by government commenced before political independence in 1960 and
where, despite various government interventions and huge investments in housing
provision, the housing problem in the country still remains intractable as many rural and
urban populations in Nigeria do not have access to decent, safe and affordable housing.
This, according to Onibokun(1990), is as a result of the inability of government to provide
housing to the populace. The level of production of housing in a developing country like
Nigeria is only 2 dwelling units per thousand people, compared to the required rate of about
8-10 dwelling units per 1,000 population as recommended by the United Nations(Anthonio,
2002). It is against this backdrop that this paper attempts an overview of government
housing delivery strategies in Nigeria over the years with a view to identify corrective
measures that are needed to better the shelter and living conditions of the generality of
Nigerians. The paper is structured into four parts. Following this introduction, section two
focuses on the need for affordable housing, then characteristics of the Nigerian housing
scene, while section three gives a detailed review of successive government and private
interventions in housing.
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Need for affordable Housing
The United Nations estimates that Nigerias population in 2005 stands at 141 million, and
predicted that it would reach 289 million by 2050 (Encarta, 2007). The United States Census
Bureau projects that population of Nigeria will reach 264 million by 2050. Nigeria will then
be the 8th most populous country in the world (Encarta, 2007). Rapid growth in population
creates demand pressure towards shelter and efficient supply and distribution of basic
utilities and services for the city dwellers, In most of our urban centre the problem of
housing is not only restricted to quantity but to the poor quality of available housing units.
The effect which is manifested in overcrowding in houses. Nigeria is perhaps the fastest
urbanizing country in the African continent. One of the most important challenges facing the
country is the provision of affordable housing. As more and more Nigerians make towns and
cities their homes, the resulting social, economic, environmental and political challenges
need to be urgently addressed (Raji, 2008). A recent study of housing situation in Nigeria put
existing housing stock at 23 per 1000 inhabitant. Housing deficit is put at 15 million houses
(Mabogunje 2007) while N12 trillion will be required to finance the deficit. This is about 4
times the annual national budget of Nigeria (FHA, 2007). Home prices and rents, on the
other hand, have grown ahead of general inflation. Making matters worse, the composition
of homes for sale and rent on the market has been inexorably shifting towards very
expensive home (Nubi, 2008).
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The National Rolling Plan of 1990 92 estimated housing deficit at 4.8 million. The 1991
housing policy estimated that 700,000 housing units are to be built each year if housing
deficit is to be cancelled. The documents indicated that not less than 60% of the new houses
are to be built in urban centre. In 2006, the ministry of Housing and Urban Development
declared that the country needs about 10 million housing units before all Nigerians can be
sheltered. Between 1975 and 1980, there were plans of deliver 202,000 housing units to the
public but only 28,500 units, representing 14.1% was achieved. Also, out of 200,000 housing
units planned to be delivered between 1981 and 1985, only 47,200 (23.6%) was
constructed. Under the National Housing Fund (NHF) programme initiated in 1994, to
produce 121,000 housing units, it was believed that less than 5% was achieved. In spite of a
series of government policies towards housing delivery, one thing that is clear is that; there
exist a gap between housing supply and demand (Olomolaiye, 1999; Agbola, 1998; Adegeye
and Ditto, 1985). Historically, Housing unit is treated as product hence the need for quality if
it is to pair well and perform desirably in the market, but quality in construction industry
suffers significant difficulty as it passes through extreme pressure driven by cost
minimization rather than value maximization. Research has shown that 75% of urban
housing is situated in slum conditions (UNDN,1988), and indeed the quality of the housing is
poor and clearly an affront to human dignity (Olotuah, 1997; Agbola and Olatubara, 2003).
As part of effort to increasing qualitative housing for the masses in the country, the Federal
Government in 2004 pledged to adequately fund research pertaining to the manufacture
and the use of local materials in the sector with the aim of providing 40,000 houses and at
least 1,000 per state before year 2007. Housing delivery in Nigeria is provided by either the
Government or Private sector, but despite Federal Government access to factors of housing
production, the country could at best expect 4.2% of the annual requirement. Substantial
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contribution is expected from other public and private sectors. It should be acknowledged
that private sector developers account for most of urban housing (FOS, 1983). The
production of housing in Nigeria is primarily the function of the private market;
approximately 90% of urban housing is produced by private developers. Due to housing
demand created by rural- urban migration, which account for 65% of urban population
growth, the fixed supply of urban land, and inflation of rental and housing ownership cost
(taylor, 2000). Unfortunately, the private sector is saddled with numerous problems which
make supply always fall far short of demand and lower production quality (Nubi, 2008). The
problem of qualitative housing has been a concern for both the government and individuals.
Appreciating these problems, both public and private sector developers make effort through
various activities to bridge the gap between housing supply and demand, but the cost of
building materials, deficiency of housing finance arrangement, stringent loan conditions
from mortgage banks, government policies amongst other problems have affecting housing
delivery significantly in Nigeria ( Raji, 2008). With different Policies and user solutions that
are abound for the purpose of reducing quantitative housing deficiency. It could be possible
to solve the problem if housing were used only for shelter needs. However, in addition to
serving as a shelter, housing is also a produced commodity, consumer good, assurance for
families, means used for reproducing social relations and an investment tool protecting the
value of money against inflation. Moreover, it is important that house is a building block in
its relations with its environment, mutual interaction and increasing the quality of its
environment when it is considered as a part of the city. In this context, it can be accepted
that a large housing stock is available today as a result of new presentation forms and
production processes with a high volume of housing production. However, the existence of
this stock shows that the housing policies are planned depending mostly on production.
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CHARACTERISTICS OF THE NIGERIAN HOUSING SCENE
The ever mounting crisis in the housing sector of the developing world has various
dimensions, which range from absolute housing units shortages, to the emergence and
proliferation of the slums/squatter settlements, the rising cost of housing rent, and the
growing inability of the average citizen to own their own houses or procure decent
accommodation of their taste in the housing market. In Nigeria, even though there are no
accurate data on the nations housing stock, earlier studies and observations strongly
suggest quantitative and qualitative housing problems across the country (Onibokun, 1983;
Abumere, 1987; Federal Office of Statistics., 1997; Agbola, 1998; Egunjobi, 1999; Adeagbo,
1997; Olatubara, 2008; Mabogunje 2003; Ademiluyi& Raji, 2008). Thus, while Fadahunsi
(1985) observed that policymakers in Nigeria are not really aware of the magnitude of the
housing problems facing the low income earners in the country, Olateju (1990) was of the
view that the increasing high rent is a pointer to the fact that there is a decrease in housing
stock. A study by Onibokun (1990) estimated that the nations housing needs for 1990 to be
8,413,980; 7,770,005 and 7,624,230 units for the high, medium, and low income groups,
respectively. The same study projected the year 2000 needs to be 14,372,900; 13,273,291
and 12,419,068, while the estimates for the year 2020 stands at 39,989,286;33,570,900; and
28,548,633 housing units for high, medium and low income groups, respectively (Agbola,
1998;Olokesusi & Okunfulure, 2000), Again, the national rolling plan from 1990 to 1992
estimated the housing deficit to increase between 4.8 million to 5.9 million by 2000 The
1991 housing policy estimated that 700,000 housing units needed to be built each year if
the housing deficit was to be cancelled. The document, in fact, indicated that no fewer than
60 percent of new housing units were to be built in the urban centers (Ogu & Ogbuozobe,
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2001; Federal Republic Nigeria, 1991). This figure had increased at the time the 1991
housing policy was being reviewed in 2002. In 2006, the Minister of Housing and Urban
Development declared that the country needed about ten million housing units before all
Nigerians could be sheltered. Another estimate in 2007 by the president put the national
housing deficit at between 8 and 10 million (Yaradua, 2007). Despite this confusion as to
the number of new additions, it has been quite obvious that a critical gap exists between
the housing supply and demand; the reasons why successive governments have made policy
statements, enunciated, and have made efforts to actually deliver new housing units.
However, out of their targeted provision, a very minute percentage is always met. This could
be attributed to the fact that most government housing programs have been frustrated by
corruption, politicization, insufficiency of technical staff at building sites, and lack of
infrastructure (Olokesusi & Okunfulure, 2000). Housing conditions, especially those
portrayed by the availability and efficiency of facilities and utilities, have been worsening
since 1980 (Olokesusi & Okunfulure, 2000). Toilet facilities, for instance, have more pit
constructions than other better and more ideal provisions. This is evident from the
construction quota, which increased from 25.6 percent in 1980/81 to 63.3 percent in
1993/94 and 62 percent in 1995/96. Existing data shows that while 72.4% of urban
households were connected to electricity in 1980/81, this proportion declined to 54.34% in
1995/96 (Federal Office of Statistics, 1999). The same trend existed for most neighborhood
facilities and utilities within the country, especially those concerning water supply road
construction, sewage, etc. In response to these housing challenges, Nigerian governments,
since pre-independence, have shown a remarkable concern for housing. Also, successive
governments in Nigeria have intervened in a number of ways in the housing sector in order
to bring about the much needed improvement and transformation.
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GOVERNMENT INTERVENTIONS IN HOUSING PROVISION
Because shelter is necessary to everyone, the problem of providing adequate housing has
long been a concern not only to individuals, but to governments as well. Thus, most nations,
in one form or another, continue to place access to affordable housing at the top of their
priority lists (Encarta Interactive World Atlas, 2007). In Nigeria, the major steps taken, so far,
towards solving the housing crisis in the country include:
(i) The establishment, in 1928, of the Lagos Executive Development Board (LEDB). The Board
was empowered to carry out slum clearance, land reclamation, and the development of
residential and industrial estates.
(ii) The setting up of Nigerian Building Society (NBS) in 1956 to provide housing loans to
both civil servants and the Nigerian public.
(iii) The creation of the National Site and Services Scheme (NSSS) in 1986 to provide land
with essential infrastructural facilities, such as roads, drainage and sewage system, water
supply, and electricity for housing developments in well-planned environments. The
schemes are planned to provide well laid-out and serviced plots in each of the 36 state
capitals of the federation, including FCT Abuja.
(iv) The establishment of the National Prototype Housing Program (NPHP) by the Federal
Ministry of Works and Housing (FMWH) to complement the objectives of the National Site
and Services Scheme (NSSS).The project was embarked upon to demonstrate the feasibility
of constructing functional, effective, and affordable housing units through imaginative
designs, judicious specification of materials, and efficient management of construction.
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(v) The setting up of the State Housing Corporation (SHC) to provide housing to the
populace at affordable prices.
(vi) The creation of the Federal Mortgage Bank of Nigeria (FMBN) in 1977 to finance housing
loans to prospective housing developers at minimal interest rates.
(vii) The setting up of the National Housing Program (NHP) in 1991 and the National Housing
Fund (NHF) scheme by Decree No 3 of 1992 to provide self loans to prospective housing
developers and also monitor developments in the housing sector.
(viii) The deconsolidation of the Federal Mortgage Bank of Nigeria (FMBN) through the
establishment of the Federal Mortgage Finance Limited (FMFL) to take over retail mortgage
portfolios previously handled by the bank and also to facilitate effective management of the
National Housing Fund (NHF) Scheme.
(ix) The setting up of a Housing Policy Council (HPC) to monitor development in the housing
sector and also to set up the machinery for the review of the 1978 Land Use Decree (LUD) in
order to make more land available for large scale land developers.
(x) The creation of the ministry of Housing and Urban Development in June 2003.
(xi) The review of the mandate given to the Federal Housing Authority (FHA) to include
provisions of the National Social housing as part of the strategy towards meeting the
Millennium Development Goal. The authority also plans to facilitate the provision of two
million housing units within the next four years.
(xii) Others are the formulation of the National Housing Policy (NHP) in 1984, the
establishment of the Infrastructural Development Fund (IDF) in 1985, and the Urban
Development Bank (UDB) in 1992 (Federal Republic of Nigeria, 1997).
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Furthermore, on the legal and regulatory framework for enhancing housing delivery, eight
(8) housing related laws are now before the National Assembly. They are:
1. The Federal Mortgage Bank of Nigeria Act 1977 (replacement)
2. The National Housing Fund Act 1992 (replacement)
3. The Mortgage Institution Acts 1992 (replacement)
4. The Social Insurance Trust Fund Act 1993 (amendment)
5. The Investment and Securities Act 1999 (amendment)
6. The Trustees Investment Act 1962 (amendment)
7. The Insurance Act 2002 (amendment)
8. The Land Use Act 1978 (amendment)
In addition to the above, virtually all the introduced National Development Plans (NDPs)
from 1962-1985 and the National Rolling Plans (NRPs) from 1990 to date explicitly recognize
the importance of providing adequate housing in the country as a tool for stimulating the
national economy (Gbolagade, 2005). The First National Development Plan (1962-1968)
accorded low priority to housing with focus on accommodating government staff in the
regional capitals and Lagos. A low proportion/percentage achievement was recorded. In the
Second National Development Plan (1970-1974) the target was to construct 60,000 housing
units (15,000 units in Lagos and 400 units in each of the remaining capitals). There was
marginal improvement at the end of that period. Efforts were intensified in the Third
National Development Plan (1975-1984) to improve the condition of the housing. Highlights
of the programs include: direct construction of low-cost housing units by both the federal
and state governments; increased construction of housing quarters for government officials,
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expansion of credit facilities to enhance private housing construction, and increased
investment in domestic production of cement. A sum of N2.5 billion was allocated to the
housing sector with a target production of 202,000 units (50,000 units for Lagos and 8,000
units for each of the, then, 19 states). At the end of the period, a success of 13.3% was
recorded. During the plan period, the Federal Ministry of Housing, Urban Development, and
Environment was created while the Federal Government bought over the shares held by the
Commonwealth Development Corporation in the Nigeria Building Society and converted it
to the Federal Mortgage Bank of Nigeria (FMBN) with an enlarged capital base from N21
million to N150 million to provide loans to individuals, state housing corporations, and
private estate development firms. During the Fourth National Development Plan (1984-
1985) period, three schemes were embarked upon: the direct housing construction, under
which 2,000 housing units were to be built in each state annually, while the FHA was to
construct about 143,000 low cost housing units across the country. Site and Services
Schemes were also to be provided. At the end of the plan period, a success of 20% was
recorded. During the 1990-1992 rolling plan period, efforts were intensified on the sites and
services scheme. About 2,892 serviced plots were provided in Anambra, Lagos, Imo, Kano,
Kwara, Ondo, and Rivers states, while the second phase commenced in other states. On
prototype housing schemes, 72 housing units were constructed and allocated in 1990, while
the construction of 218 units commenced in Lagos and Abuja. During the plan period, the
National Housing Fund Decree No. 3 of 1992 was promulgated and Primary Mortgage
Institutions (PMIs) were licensed. The Housing Policy Council was also set up to monitor
development in the housing sector. The 1993-1995 rolling plan period witnessed allocation
of about 10,474 plots of the three residential categories to the public. The impact of FHA
was also felt in Lagos and Abuja. During the 1994-1996 rolling plan, the national housing
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program was launched with the target of constructing 121,000 housing units of various
models all over the country by the end of 1996. However, by the first quarter of 1997, fewer
than 2,000 housing units had been completed. The federal and the state governments were
expected to spend N2.0 billion on housing provisions during the 1996-1998 National Rolling
Plan (NRP). Over N3.00 billion was expected to be spent by the two levels of governments
during the 1999-2001 National Rolling Plan (Federal Republic of Nigeria, 1998; Federal
Republic of Nigeria, 2000). As part of the efforts to increase houses for the masses in the
country, the Federal Government in 2004 pledged to adequately fund research pertaining to
the manufacture and the use of local materials in the sector, with the aim of providing
40,000 houses with at least 1,000 per state before year 2007. However, as observed by
Ademiluyi & Raji (2008), little had been done to meet this target barely two months into the
year 2007. Despite these interventions and efforts by the governments, actual
achievements in terms of providing adequate housing in the country remain essentially
minimal for a number of reasons. These include:
1. Problem of plan implementation. There is often a wide gap between what is on paper and
what is happening on the ground. For example, only 13.3% achievement was recorded in
the federal governments housing program in the Third National Development Plan
(Mabogunje, 2002).
2. Lack of adequate data relating to the magnitude of the problem, due partly to the
absence of the national data bank on housing.
3. Inconsistency in government policies and programs, including frequent changes of
policies with changes of government and without proper assessment of the existing ones.
4. Lack of efficient and sustainable credit delivery to the housing sector.
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5. Peoples incomes are relatively low in comparison with house market prices, resulting in
an affordability problem.
6. High cost of building materials. For example, a recent survey has shown that a 50kg bag of
cement has risen from N650 in 2000 to about N2, 200 today.
7. The rapid annual growth rate of the Nigerian population, which was estimated at 3.3% on
the basis of annual birth rate of 49.3 per 1,000. Coupled with the rapid population
growth/urbanization is the problem of an increasing poverty level among the citizenry,
which has risen from 65% in 1996 to about 70% in 2007, according to UNDP and World Bank
estimates.
8. Lack of effective coordination among Housing Agencies. While all the three tiers of the
government are involved in one way or the other in housing matters, their activities are
hardly coordinated.
9. Politicization of housing issues, including government involvement in what Onibokun
(1983) referred to as the game of number. For instance, between 1974 and 1980, there the
plan to deliver 202,000 housing units to the public, but only 28,500 units representing 14.1%
were delivered. Also, out of 200,000 housing units planned to be delivered between 1981
and 1985 only 47,200 (23.6%) were constructed. Under the National Housing Fund (NHF)
program, initiated in 1994 to produce 121,000 housing units, it was reported that less than
5% was achieved. In spite of a series of government policies towards improved housing
delivery, one thing that is clear is that successive governments in Nigeria have not been able
to match their words with action. In fact, the situation in the Nigerian housing sector
remains like that of a child to whom much is promised but little is delivered. It is no surprise,
therefore, that there exists a gap between housing supply and demand.
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PRIVATE INTERVENTIONS IN HOUSING PROVISION
Housing Finance Requirements
Housing finance by its very nature is a capital intensive venture which if it is to be financed
through personal financial resources will require slow and tedious accumulation of savings.
However, since housing provides benefits over many years, long-term credit financing is a
more logical option as it will spread the repayment burden. But this requires the availability
of long-term funding, and for which must be institutional capacity, structure and mechanism
that will allow a convenient and effective linkage between the savers/investors and the
consumers of such funds. Without an effective finance system, no housing policy can be
effectively implemented. A financing framework which facilitates financial intermediation
for housing finance consists of institutions as well as their relationship and the processes
involved. However, the emphasis in this review will be on relevant institutions and their
activities. Indeed the framework must effectively reconcile the affordability limitation of
households with viability requirement of financial institutions. In Nigeria, housing is typically
financed through a number of institutional sources: Budgetary appropriations,
Commercial/Merchant Banks, Insurance Companies, State Housing Corporations and the
Federal Mortgage Bank of Nigeria (FMBN): and now the newly established Mortgage
Institutions all these constitute the formal institutions. Informal institutions such as thrift
and credit societies, and money lenders who have contributed and are still contributing
substantially to the finance of housing construction also persists. The impact of these
informal institutions however cannot be properly quantified because they are largely
uncoordinated, scattered and varied in scope and operational depth.
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Budgetary Appropriations
For various reasons, the expansion in the external sector of the economy as well as the
consequent expansion in the financial system did not translate into any significant
improvement in the level of financial intermediation for housing finance. A major reason has
been, until very recently, the nature of Government intervention. With resources allocated
by the various development plans especially the Third and Fourth National Development
Plans, the public sector embarked on the direct construction of mass housing; major
housing projects were financed directly from budgetary appropriations. This emphasis on
budgetary appropriation was mainly during the oil boom periods of 1973/76 and 1980/81.
Little or no role was allowed the Private sector in Housing Finance. The results were
insignificant impact on housing need and attendant cost inefficiencies. There were few
peculiar features of implementation in the respective periods of the plans which have had a
direct bearing on Housing finance activities.
(a) Fiscal policy alternated between stringent and liberal control on imports, depending
on the buoyancy of hard currency earnings. Given the import dependence on building
materials, cost of housing construction oscillated.
(b) Apart from its regulatory role, government at the Federal and State level was also
engaged in direct housing construction. For example the new government of Lagos
State is currently embarking on the provision of 10,000 housing unit per year for the next
four years of mix development for the people of the state. How realizable this scheme is
only time will tell. But definitely it all boils down to finance. It is on record that the State is
seeking to obtain 4.0 billion Naira from the capital market just to be able to fulfill part of
their promise of housing.
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(c) Although the Third and Fourth plans placed emphasis on a housing sector, there was no
adequate allocation of funds.
(d) The institutional structure for mortgage finance did not evolve beyond rudimentary
stage.
In the event, there was little evidence of financial presence from the private sector in public
Sector housing finance activities. In consequence, the operational dependency and
Sophistication which a greater presence from the private sector could have induced in the
Housing finance system did not take place. The situation was compounded by the strict
regulation of credit expansion which, until the recent deregulation, has compelled the
financial institutions to remain largely in the short-term end of the credit market. Inspite of
their importance in financing the construction of housing, the commercial and Merchant
Banks have not gone beyond allocating 20% of their loans and advance into building
construction for many years. This is because of the relative slow rate of returns and the
interest rate and inflation risks inherent in long-term lending. Indeed, with the deregulation
of the financial system since 1986, the percentage share of real estate and construction in
total loans and advances has declined for Merchant Banks from 16.5% in 1985 to 12.3% in
1986 and 7.5% in 1987 (see table 3); while for Commercial Banks it declined from 20.5% in
1985 to 18.1% in 1986, 16.5% in 1987 and
15.5% in 1988 (see table 2).
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Table 1: Merchant Banks Real Estate % Share and Maturities
Year
Real Estate/Construction as a
percentage of
loans & advances (A)
Call money to 3 years
maturity as percentage of all
deposits (B)
1984 18.6 (N313.7m) 63.6
1985 16.5 (N297.2m) 60.4
1986 12.1 (N335.7m) 60.1
1987 7.5 (N311.8m) 63.9
1988 7.8 (N335.6m) 59.1
Sources: CBN Economic & Financial Review
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Table 2.
Year A B
1984 20.6 (N2,373.8m) 86.9
1985 20.5 (N2,493.7m) 90.5
1986 18.1 (N2,840.4m) 88.0
1987 16.5 (N2,892.4m) 88.7
1988 15.5 (N3,007.9m) 90.4
Source: As in Table 1
An examination of the maturity profiles of deposits with commercial and Merchant Banks
shows the dominance of call money to 3 years maturities which are mismatched to the long-
term nature of housing finance. Within the period analyzed, although the percentage of call
money to 3 years maturities to all deposits for Merchant Banks declined from 63.9% in 1987
to 59.1% in 1988, the average remains a high 61.4%. For the Commercial Banks, the average
remains 88.8% and indeed the percentage increased steadily from 88% in 1986 to 88.7% in
1987 and whopping 90.40% in 1988. The Commercial rate of interest offered, the shortage
repayment period, as well as the level of collateralisation resulted in the allocation to real
estate being focused on properties in prime locations where the prospects for high
sale/rents may accelerate loan repayment.
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Insurance Companies
Insurance companies have funds appropriate for financing housing construction. However,
under the current insurance decree, only up-to 25% of life and 10% of non-life policies can
be invested in real estate. Life premiums are not only long-term but relatively cheaper than
deposits. However, the investment emphasis of these institutions has been short-term due
to the preferences of these companies and to a lesser extent the legal restriction imposed.
Indeed, while percentage allocated to real estate declined since 1985 from 12.1% to 7.2% in
1986, that allocated to mortgage loans declined steadily since 1984 from 7.1% to 4.8% in
1985, 3.9% in 1986, and 3.6% in 1987 (see table 3).
Table 3: Insurance Companies: Real Estate/Mortgage
Year Type of Invesment (N) Real Estates Mortgage Loans
1984 93.5m (11.7%) 57.2m (7.1%)
1985 149.2m (12.1%) 59.7m (4.8%)
1986 116.9m (7.2%) 63.0m (3.9%)
1987 144.3m (7.5%) 69.2m (3.6%)
Source: Insurance Year Book.
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Housing Corporations
The State Housing Corporations operate largely as property developers and they depend
mainly on Government budgetary allocations. The housing units are usually sold outright as
they usually do not provide mortgage finance to buyers. The number of housing units
produced has not been significant relative to demand. Their role would have been
effectively implemented if they were operating as financial intermediaries. It has been
noted elsewhere that for reasons such as availability of Government funding, housing
corporations do not operate savings schemes; and those that have such schemes have
marginalised them. It was in realization of the enormity of the housing problem relative to
declining resources capacity available to the Public sector, that the previous Governments
decided to facilitate construction by the Private Sector institutions. Consequently the new
National Housing Policy was established.
New National Housing Policy
Realizing that the enormous public sector efforts have not effectively addressed an
expanding housing deficit and escalating construction costs, and that such effort must be
substantially collaborative with the Private Sector, Government decided to establish a
framework within which such collaboration can effectively address the housing problem.
This was articulated in the National Housing Policy in 1988. The policy attempts inter alia; to
create a new housing finance system, encourage the linkage of the housing sector to the
capital market, establish a National Housing Fund, and expand Private Sector role in the
housing delivery system.
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The most significant differences between the new policy and the previous ones are firstly,
that housing is now seen in context of the overall national development. Previous policies
had tended to regard housing as a social service and a natural fall-out of the national
economic development. Secondly, the policy has identified the fact that different household
both within and between income groups tend to have different demand for housing. This is
evident from the ultimate goal of the policy which is, to ensure that all Nigerians own or
have access to decent housing accommodation at affordable cost by the 2000 AD Thirdly,
the focus of the policy seems to be to remove all barriers to the supply of housing and to
provide incentives to all parties involved (governments, private sector and individuals) in the
housing delivery system.
New Structure for Housing Finance
The new housing policy has established a two-tier housing finance structure, with FMBN as
an apex institution and a decentralized network of Primary Mortgage Market institutions
such as building societies, housing co-operatives, and home savings and loans associations.
This structure aims to streamline processes and organizational relationships within the
housing finance system and encourage expansion in private initiative. In this regard, the
legal framework for the organization and implementation of the apex role of FMBN has
been defined by the Mortgage Institutions Decree No.53 of 1989.
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National Housing Fund (NHF) was established in 1992
The concept of the National Housing Fund as proposed in the National Housing Policy is to
ensure a continuous flow of long-term funding for housing development and to provide
affordable loans for low income housing. The promulgation of the National Housing Fund
Decree heralded the emergence and establishment of a battery of mortgage finance
institutions in Nigeria. Quite a number of them had been in operation for the last 12
months. Good as the intention of the scheme appear, the technicalities and modalities of
releasing the loan to the mortgage institutions to unlend to the members of the public have
not been worked out and as such most potential clients have been frustrated by the high
interest rate and cost of funding. Most of the mortgage institutions on their own have been
mobilizing funds by accepting deposits and savings at very high interest rate in a highly
competitive marketing environment. Most customers on the other hand are prepared to
wait for the National Housing Fund than take loans at high interest rate which is presently
being dictated by the money market condition.
CURRENT HOUSING DELIVERY APPROACH
In 2003, the federal government also established the Federal Ministry of Housing and Urban
Development, and Proposed a Housing Reform, in view of the fact that there were not many
affordable houses in Nigeria. There was an illusion that houses were available. But most of
them were high-priced. Mabogunje (2004) opined that a number of other legislation needs
to be amended substantially to bring their provisions in line with the new housing regime.
The touchstone in such reviews is to reduce red-tape and ensure that various legislations
are compatible with demands of a free and robust market economy. The period 2003 2004
witness a Housing policy that recognized the private sector on the driving seat of housing
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delivery in the country, the key features of this policy include the placement of the private
sector in a pivotal position, for the delivery of affordable houses, on a sustainable basis;
assignment to government of the responsibility for the development of primary
infrastructure for new estate development; and review and amendment of the Land Use Act
to ensure better access to land and speedier registration and assignment of title to
developers. Others are the development of a secondary mortgage market, involving the
FMBN and the establishment of a new mortgage regime, under the NHF, to facilitate more
favourable mortgage terms; and a five-year tax holiday for developers (Thisdayonline,
2009).
AFFORDABLE HOUSING SCHEME
There are several affordable housing schemes that are either fully funded by government or
or in partnership with the government under the Public Private Partnership (PPP) scheme. In
some cases selected developers were given some kind of concession by government with
the aim of providing affordable housing for instance, in the Federal Capital Territory. Such
efforts were further complemented with the Private Finance Initiative (PFI). Jibrin (2009)
further argued that while the quality of the existing stock is also under a heavy scrutiny in
term design and desired functions including acceptable livable neighborhood, 87% of the
existing stocks are backlogs which are stocks that do not meet the minimum quality
requirement.
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Site and Services Scheme
The pressure for this came from the international lending community and in particular the
World Bank. Given the rising figures of spontaneous or squatter settlements, in cities all
over the third world, in the face of tight planning control, regular demolitions, and high-cost
construction programmes, the World Bank argued for a new approach to urban
development which incorporated various forms of aided self-help (World Bank, 1972) the
two packages which received the most support were sites and services scheme, and
upgrading schemes.
Essentially, the first provided low-income beneficiaries with serviced plots including tenure
security and help to build their own houses; the second approach helped house-owners in
existing squatter areas obtains tenure to their land, and to improve their dwellings. Many of
these sites exist all over the country essentially provided by the government. And, inspite of
the fact that they may help to improve tenure security, the programme is capital-intensive
in nature and the initial target population, low-income, usually do not benefit from them.
Aluko (2002) opined that the cost attached to each plot is usually beyond the reach of the
urban poor.
THE WAY FORWARD
Housing is an economic activity with an inherent multiplier effects. Once the housing sector
is buoyant, it would positively rub on other sectors of the economy, be it finance, building
materials, employment, real estate, and land transactions, among others. The government
can accomplish a lot in the housing sector through concerted effort and adequate funding.
While the record of government interventions in the housing sector in Nigeria looks quite
impressive, policies are rarely implemented or haphazardly implemented. In other words,
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urbanization, natural disasters, political upheaval, and persistent poverty (Awake, 2005;
Olotuah, 2005; Mabogunje, 2002). These factors, among others, must be adequately
addressed by the government if appreciable progress is to be made in its quest for providing
good housing for all.
My Proposal
Three issues that merit consideration in this context are the escalating prices of building
materials, the constraints in the land delivery system and the high physical standard which
militate against the affordability of these housing. This situation must be reversed quickly if
the housing pressure is not to assume a crisis proportion during this new millennium.
(i) Establishment of Construction Bank: Part of the problem of the industry is the liquidity
i.e. in accessibility to credit facilities. The Commercial Banks are not setup to loan money on
long term bases. The establishment of the Construction Industry own bank where lending is
a lot easier and interest rates are far less than commercial rate and the Minimum
Rediscount Rate (MRR), would not only boost construction activity, it would help jump start
up and coming young players in the industry. Part of fund that could be made available for
this Bank could be pension funds from government agencies and parastals which are
currently being wasted through wrong usage .It is important to note that regardless of the
availability of long-term lending and the appropriate institutions to render the required
services, housing finance can only become effective when a substantial proportion of the
population can be served.
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The problem is to appropriately finance the housing needs of middle and low income groups
that constitute the majority through this medium. It shall be a private sector led-bank with
government just having an equity interest.
(ii) The Use of Local Building Materials: The use of local building materials and intermediate
technology must be followed with the provision of other basic infrastructures like safe
drinking water, roads, electricity supply and other social amenities especially to improve the
quality, live ability and attractiveness of low-cost housing. Presently houses are built and
rely solely on cement. The nation needs about 8.5million metric tonnes yearly. While our
cement companies are only able to produce about 2-3million metric tonnes. This short fall
has always accounted for the galloping cost of cement every year as shown in the table
below. Over half of Nigerias cement need is imported. According to recent survey, Nigeria is
the world largest importer of cement with about 70.5% dependence on importation. The
chances of the local industry rising to the task remain very slim as only four (4No) out of the
seven (7No) of the cement companies in the country are still limping along at various levels
of capacity utilisation.
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Table 3.
Cost of Cement Per 50Kg Bag
(WAPCO) Price
Years
Amount
1990
32
1991
40
1992
85
1993
85
1994
180
1995
410
1996
430
1997
500
1998
550
1999
600
2000
650
2001
850
Fig. 1
There is also the campaign to use less of cement blocks in housing construction especially
the low-income housing. The research has shown that a 225mm block wall plastered and
painted on both sides with emulsion paint cost N1,700/m2 while a similar solid brick wall
plastered and painted on one side with emulsion paint cost N1080/m2. A savings of
N520/m2 . A further savings has been observed could be made with the use of bamboo
shoots. Thus financing the construction of housing for all income groups require creative
framework through localized design and packaging as opposed to imported design.
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(iii) Evolution of Simpler Form of Design: A need to do away with over designing and
concentrate more on functional design. The local Architects have to take the lead in this
regard. A more cost effective design is highly desirable at this point in time if mass and
cheap housing is to be assured.
(iv) Review of land use Decree of 1976:- Whereby all lands in government ownership is freed
in order to enhance intense private sector participation in the industry by making access to
land very easy. This would help in the empowerment of the real sector and thus an active
and vibrant industry. A situation such as witnessed in the 2000 Budget of a paltry sum of
N1.8 Billion for social housing would become a childs play if more land is freed or ceded to
the private sector.
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CONCLUSION
In conclusion, what Nigerians need to survive the wounds of near-homelessness include
good governance, increased access to land, credit, affordable housing and environmentally
sound and serviced human settlements. Government should therefore undertake steps by
all appropriate means and to the fullest of funds at his disposal to achieve progressively the
tenets of adequate shelter for Nigerians especially the vulnerable group. This must be done
without discrimination as to status, sex, tribe and without fear of favour. It is indeed hoped
that the above framework which is indicative of bright prospects for financing housing
construction will rapidly expand the quantum of finance available and dampen the high cost
of funding and construction. With the restructuring of the domestic economy, it is my belief
that there is a bright prospect for housing financing large scale in Nigeria in this near future.
It is recommended that more emphasis be placed on providing low and medium income
housing units in Nigeria using earth blocks and intermediate technology. It is also expected
that to avoid the takeover of these houses by the high income group, national or state
monitoring groups made up of NGOs, government institutions and other public and private
stakeholders be established to monitor progress and make sure that target populations
benefit. The use of sample walls using stabilized blocks, reinforced concrete in beams and
lintels and combining this with corrugated roofing sheet would reduce construction cost by
about 60%. It should be noted that reduction in unit cost would produce more units so as to
meet up the 8 million units required to adequately house the Nigerian population. Housing
finance policies must be made to integrate the lower income classes. This can be possibly
done by giving long term loans with sustainable interest rates and no collateral. Co-
operative, communal and self build practices must be encouraged by the appropriate
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ministries and NGOs to further help increase self reliance and help. Establishment of the
construction Bank is a sine-quo-non in this regard.
The national Road and Building Research Institute must be empowered to do a lot of
research into cheap and effective materials for both housing and road constructions.
Efficient land markets and sustainable land use policies are indispensable and there is need
to change the Land Use Decree to a more housing friendly legislation.
Thank you for this opportunity.
Thank you for your patience.
Thank you for listening.
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