Obstacles to individual home ownership in Nigeria

Chika Ezinwanne Udechukwu

International Journal of Housing Markets and Analysis, 2008, vol. 1, issue 2, 182-194

Abstract: Purpose - This paper sets out to investigate the various inhibiting factors to individual home ownership in Nigeria. It aims to establish just how feasible home ownership is in Nigeria. Design/methodology/approach - Secondary data were obtained from journals, government publications and technical reports. The sources are sorted into sections: prices of the houses, inflation rate, income levels of Nigerians. Findings - The dominant informal sector in the national economy does not augur well for housing delivery; job creation and economic empowerment are the primary catalysts for increased disposable incomes and savings that will subsequently boost investment in home‐ownership. Practical implications - With hard work and diligence in policy formulation, project implementation and economic resuscitation, home‐ownership will no longer be a utopian ideal but a national reality. The nation's policy makers must begin to adopt strategies that have practical application in the immediate environment. Originality/value - This paper comprehensively highlights the various home ownership finance options available in Nigeria, and critically assesses how practicable these options are to the average Nigerian.

Keywords: Housing; Private ownership; Nigeria; Property finance (search for similar items in EconPapers)
Date: 2008
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijhmap:v:1:y:2008:i:2:p:182-194

DOI: 10.1108/17538270810877790

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