Housing finance inaccessibility: evidence from the Nigerian Pensioners

Ebekozien, Andrew; Aigbavboa, Clinton; Aigbedion, Marvelous; Ogbaini, Iliye Faith; Awe, Emmanuel Omoniyi

doi:10.1108/pm-09-2021-0064

Cited by 5 publications

(9 citation statements)

References 41 publications

(80 reference statements)

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“…The study engaged six construction consultant experts from each location that have been directly or indirectly involved in the three case studies and two senior government officials from relevant ministries before saturation was achieved. To strengthen the study's reliability, the researchers tackle the restrictions of non-probability sampling methods such as researchers' biases, cost and time-effectiveness (Ebekozien et al, 2022). Fourteen interviewees from Abuja and Lagos were engaged.…”

Section: Methodsmentioning

confidence: 99%

Unravelling the encumbrances in procurement management of Nigeria's infrastructure development: pitfalls and prospects of projects

Ebekozien

Samsurijan

Aigbavboa

et al. 2022

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PurposeProcurement management in infrastructure development has gained considerable attention in developing countries. It is because of the success in the developed nations. Studies have shown that Nigeria's infrastructure development needs far exceed its current provision. Also, studies are scarce to reveal whether procurement management has been successful in infrastructure development projects in Nigeria. Therefore, this paper investigated the root cause of the perceived encumbrances impeding procurement management in infrastructure development projects and proffered policy measures to improve future Nigeria's infrastructure development.Design/methodology/approachData were collected via unexplored exploratory virtual interviews and selected cases from secondary sources. The engaged construction and engineering consultants have been involved in the procurement management of infrastructure projects in Nigeria. Thematic analysis was adopted to analyse the collected data.FindingsThe root causes of the pitfalls that emerged from the study include lack of competition and transparency, embezzlement and mismanagement of public funds, snail speed bureaucracy and bottleneck and lack of skills and knowledge. Others are collusion/bid-rigging/price-fixing/cartel formation, corruption, lack of professionalism, unbridled politicking, embezzlement and mismanagement of public funds, incompetence of tender boards, lack of patriotism to national service and lack of government organisations’ procurement capacity.Research limitations/implicationsThis paper is restricted to unravelling the encumbrances in procurement management of Nigeria's infrastructure development projects. Future research is desirable to adopt a quantitative approach for more extensive coverage and validate findings from this paper.Practical implicationsThe paper findings, including those learnt from each case study evaluated, would undoubtedly influence policymakers and construction and engineering practitioners on the key strategies to employ in implementing future procurement management in Nigeria's infrastructure development projects.Originality/valueThis paper would assist policymakers and other stakeholders desirous of improved infrastructure to focus their priorities in mitigating the identified root cause hindering procurement management in Nigeria's infrastructure management.

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Section: Methodsmentioning

confidence: 99%

Unravelling the encumbrances in procurement management of Nigeria's infrastructure development: pitfalls and prospects of projects

Ebekozien

Samsurijan

Aigbavboa

et al. 2022

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“…shows that demand and supply affect housing affordability in the study area. The previous study by Ebekozien et al (2022) shows that affordability in housing was largely affected by the demand and level of supply in the market. et al (2019), where the economic recession and level of corruption affected price control.…”

Section: Analysis Of Factors Affecting Residential Property Developmentmentioning

confidence: 96%

“…In addition to building expenditures, interest expenses are among a property developer's major expenses. Whether or whether the house was sold, interest on property loans must be capitalized and subtracted, just like other development expenditures (Ebekozien et al 2022).…”

Section: Purchasing Powermentioning

confidence: 99%

An Analysis of Problems in Housing Ownership and Property Development in Abuja, Nigeria

Wuyokwe

Yakubu

Miala

2022

JADHUR

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Since housing ranks second in the hierarchy of human needs, real estate development and the housing crisis have taken on a significant dimension today. In Abuja, Nigeria, several elements have an impact on these issues. Real estate development may evoke various feelings, depending on one's perspective. Several factors are considered a problem for housing ownership and property development. This study analyzes the problems associated with housing ownership and property development in Abuja, Nigeria. The study used quantitative research; 121 questionnaires were given to real estate developers, and 77 were retrieved and used for analysis. According to the study's findings, the following factors are known to affect residential property development: access to land, funding, exorbitant building material costs, corruption, government policy, high capital costs, high labor costs, Cost of land, mortgage interest rate, building costs, perception of buyers' lack of price control, and household expenditures are further factors. Factors impacting affordability are revealed to be mostly outside of the control of the landowner but are still subject to government regulation. As a result, to provide a solution for this element, the government must improve the welfare of its population concerning housing.

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“…Accessing mortgages by urban LIE is challenging to buy homes in many developing countries, including Nigeria. In Nigeria, a few studies (Wapwera et al, 2011;Taiwo et al, 2017;Adegun and Olusoga, 2019;Ekpo, 2019;Dafeamekpor et al, 2022;Ebekozien et al, 2022) attempted to examine the relevance of self-help in housing provision, but rare from the perspective of improving sustainable urban resilience in low-income housing provision. Wapwera et al (2011) identified and analysed Nigeria's housing finance methods for the LIEs.…”

Section: Introductionmentioning

confidence: 99%

“…In Nigeria, a few studies (Wapwera et al ., 2011; Taiwo et al. , 2017; Adegun and Olusoga, 2019; Ekpo, 2019; Dafeamekpor et al ., 2022; Ebekozien et al ., 2022) attempted to examine the relevance of self-help in housing provision, but rare from the perspective of improving sustainable urban resilience in low-income housing provision. Wapwera et al .…”

Section: Introductionmentioning

confidence: 99%

Urban resilience for sustainable homeownership: the role of self-help in the ancient city of Benin, Nigeria

Ebekozien¹,

Aigbavboa²,

Samsurijan³

et al. 2023

IJBPA

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PurposeThe organised self-help approach successfully enhances urban low-income earners' (LIE) homeownership in some developing countries. The technique can enhance urban resilience for sustainable LIE homeownership. There is a paucity of studies concerning sustainable homeownership for Nigeria's urban LIE through a self-help approach. The study investigated the housing needs of the urban LIE via organised self-help mechanisms and how the same can enhance urban resilience for sustainable homeownership in the Ancient City of Benin, Nigeria.Design/methodology/approachGiven the unexplored nature of the issue, 20 face-to-face interviews were conducted with experts and analysed through a thematic approach.FindingsFindings identified eleven main barriers faced by the urban LIE. This includes the absence of government housing policy, funding frameworks, urban land scarcity, high property development costs, naira devaluation, high-interest rates, inflation, bribery and corruption, lax mortgage sub-sector, high cost of infrastructure, and government bureaucracy.Originality/valueThis study will contribute to pioneering the role of organised self-help mechanisms in urban resilience for sustainable LIE homeownership in developing cities via a qualitative approach. Also, findings would significantly contribute to developing countries' sustainable housing and urban resilience literature.

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Housing finance inaccessibility: evidence from the Nigerian Pensioners

Cited by 5 publications

References 41 publications

Unravelling the encumbrances in procurement management of Nigeria's infrastructure development: pitfalls and prospects of projects

Unravelling the encumbrances in procurement management of Nigeria's infrastructure development: pitfalls and prospects of projects

An Analysis of Problems in Housing Ownership and Property Development in Abuja, Nigeria

Urban resilience for sustainable homeownership: the role of self-help in the ancient city of Benin, Nigeria

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