A model for effective national housing fund in Nigeria

The housing sector and homeownership are characterized by a number of benefits which have significant impacts on human lives and economic growth. Effective housing finance system, therefore, plays a key role in assuring the realization of such benefits. Despite the existence of successful housing fi...

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Main Author:	Oluwatosin, Adediran Anthonia
Format:	Thesis
Language:	English
Published:	2021
Subjects:	TX955-985 Building management
Online Access:	http://eprints.utm.my/id/eprint/96221/1/AdediranAnthoniaOluwatosinPFABU2021.pdf.pdf
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id	my-utm-ep.96221
record_format	uketd_dc
spelling	my-utm-ep.962212022-07-05T03:27:36Z A model for effective national housing fund in Nigeria 2021 Oluwatosin, Adediran Anthonia TX955-985 Building management The housing sector and homeownership are characterized by a number of benefits which have significant impacts on human lives and economic growth. Effective housing finance system, therefore, plays a key role in assuring the realization of such benefits. Despite the existence of successful housing finance models across countries, Nigeria housing finance system is yet to have a model that supports the operation of government initiated National Housing Fund Scheme, a source of housing mortgages for the public servants and private housing developers. To put it succinctly, housing finance in Nigeria has been ineffective, while workable policies appear to be a long way off the entire policy. This study seeks to fill this gap by developing a model for an effective National Housing Fund Scheme to aid homeownership in the country. This study has three objectives: 1) to identify the constraints affecting National Housing Fund Scheme loan transactions; 2) to develop a model and action plan for effective national housing fund in Nigeria through identified indicators, and 3) to validate the implementation model for effective national housing fund in Nigeria. In accomplishing the research goal, four stages of survey were performed. In Stage 1, interviews were conducted with housing related professionals, academics and mortgage institution officials; in Stage 2, four hundred and fifteen questionnaires were administered among public workers across the southwest of Nigeria; in Stage 3, a two-stage FGD was conducted involving fourteen individuals consisting of housing related professionals, academics, public servants and housing finance experts, and in Stage 4, a questionnaire survey on model validations was carried out with twenty-seven housing experts. SPSS, Structural Equation Model and NVivo were used to analyse the obtained data. The results show that the facilitation of effective National Housing Fund Scheme in Nigeria falls under three categories namely Macro-economic operations, Micro-economic operation and Action Plan, which were then pooled together to develop a model for effective National Housing Fund. A pool of experts unanimously gave their support to the appropriateness, validity and easy comprehension of the model, suggesting its validity. The capacity of the Model in providing guides to all stakeholders on housing mortgage transactions was also confirmed. Based on the findings, the dual stages of effective National Housing Fund Model are essential in enabling concerned individuals or groups to better understand their roles in Housing Finance Originations and subsequent transactions towards stakeholders’ homeownership. 2021 Thesis http://eprints.utm.my/id/eprint/96221/ http://eprints.utm.my/id/eprint/96221/1/AdediranAnthoniaOluwatosinPFABU2021.pdf.pdf application/pdf en public http://dms.library.utm.my:8080/vital/access/manager/Repository/vital:142728 phd doctoral Universiti Teknologi Malaysia Faculty of Built Environment & Surveying
institution	Universiti Teknologi Malaysia
collection	UTM Institutional Repository
language	English
topic	TX955-985 Building management
spellingShingle	TX955-985 Building management Oluwatosin, Adediran Anthonia A model for effective national housing fund in Nigeria
description	The housing sector and homeownership are characterized by a number of benefits which have significant impacts on human lives and economic growth. Effective housing finance system, therefore, plays a key role in assuring the realization of such benefits. Despite the existence of successful housing finance models across countries, Nigeria housing finance system is yet to have a model that supports the operation of government initiated National Housing Fund Scheme, a source of housing mortgages for the public servants and private housing developers. To put it succinctly, housing finance in Nigeria has been ineffective, while workable policies appear to be a long way off the entire policy. This study seeks to fill this gap by developing a model for an effective National Housing Fund Scheme to aid homeownership in the country. This study has three objectives: 1) to identify the constraints affecting National Housing Fund Scheme loan transactions; 2) to develop a model and action plan for effective national housing fund in Nigeria through identified indicators, and 3) to validate the implementation model for effective national housing fund in Nigeria. In accomplishing the research goal, four stages of survey were performed. In Stage 1, interviews were conducted with housing related professionals, academics and mortgage institution officials; in Stage 2, four hundred and fifteen questionnaires were administered among public workers across the southwest of Nigeria; in Stage 3, a two-stage FGD was conducted involving fourteen individuals consisting of housing related professionals, academics, public servants and housing finance experts, and in Stage 4, a questionnaire survey on model validations was carried out with twenty-seven housing experts. SPSS, Structural Equation Model and NVivo were used to analyse the obtained data. The results show that the facilitation of effective National Housing Fund Scheme in Nigeria falls under three categories namely Macro-economic operations, Micro-economic operation and Action Plan, which were then pooled together to develop a model for effective National Housing Fund. A pool of experts unanimously gave their support to the appropriateness, validity and easy comprehension of the model, suggesting its validity. The capacity of the Model in providing guides to all stakeholders on housing mortgage transactions was also confirmed. Based on the findings, the dual stages of effective National Housing Fund Model are essential in enabling concerned individuals or groups to better understand their roles in Housing Finance Originations and subsequent transactions towards stakeholders’ homeownership.
format	Thesis
qualification_name	Doctor of Philosophy (PhD.)
qualification_level	Doctorate
author	Oluwatosin, Adediran Anthonia
author_facet	Oluwatosin, Adediran Anthonia
author_sort	Oluwatosin, Adediran Anthonia
title	A model for effective national housing fund in Nigeria
title_short	A model for effective national housing fund in Nigeria
title_full	A model for effective national housing fund in Nigeria
title_fullStr	A model for effective national housing fund in Nigeria
title_full_unstemmed	A model for effective national housing fund in Nigeria
title_sort	model for effective national housing fund in nigeria
granting_institution	Universiti Teknologi Malaysia
granting_department	Faculty of Built Environment & Surveying
publishDate	2021
url	http://eprints.utm.my/id/eprint/96221/1/AdediranAnthoniaOluwatosinPFABU2021.pdf.pdf
_version_	1747818649243090944

A model for effective national housing fund in Nigeria

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