The Impact Of Mortgage Institutions On The National Housing Policy And Development In Nigeria

The Impact Of Mortgage Institutions On The National Housing Policy And Development In Nigeria

Abstract

The subject matter of this exploration work examined the impact of Mortgage institutions on the National casing policy and Development in Nigeria. This study also examined the effect of mortgage finance and National Housing Fund on Nigerian Citizens towards acquiring their own houses. The work outlined and rated critically the benefactions of Federal Mortgage Bank of Nigeria and Primary Mortgage Institutions to Housing Development in Nigeria. The data for the exploration work were collected by the use of primary and secondary sources Primary sources of data collection grasp questionnaire, secondary sources on the other hand include data from review of affiliated literatures, journals, and forum papers. Applicable suppositions were formulated and tested. The findings showed that Federal Mortgage Bank of Nigeria is a mortgage finance institution and has been aiding a considerable number of Nigerians with cheap casing loans for the once 46 times. The Federal Government announced the National Housing Fund Decree No 3 of 1992, primarily to address the constraint to the rallying of long term finances for casing development and to insure that Nigerians have access to casing loans at affordable rates of interest. Conclusively, if the system can press forward along these lines, and Banks and the NHF operating constraints are removed, the general picture of the mortgage assiduity and casing delivery will be unnaturally different, in many times to come.

TABLE OF CONTENTS

TITLE runner runner

instrument i

fidelity ii

Acknowledgement iii

Abstract v

Table of contents vi

CHAPTER ONE preface

preface 1

Background to the study 1

Statement of the problem 5

points and ideal of the study 8

compass of the study 9

Statement of Hypothesis 9

description of terms 10

CHAPTER TWO LITERATURE REVIEW

Literature review 13

Theoretical and abstract frame 13

elaboration and development of Nigerian casing 19

programs and programmes

The Nigerian National casing policy( NHP) 30

National casing finances( NHF) 34

Problems of Mortgage backing in Nigeria 38

Strategies for effective resource rallying 41

Development of Mortgage finance system in Nigeria 43

Sources of fund to Mortgage finance institutions 48

Types of Mortgage loans 48

Federal Mortgage Bank of Nigeria( FMBN) 49

Primary Mortgage institutions( PMIs) 51

casing pot 53

Empirical review

CHAPTER THREE exploration METHODOLOGY

preface 59

Sources of data collection 59

exploration design 60

Population, sample design and procedure 60

system of data analysis 61

CHAPTER FOUR donation, ANALYSIS AND RESULTS

preface 62

Data donation and analysis 63

Analysis of questionnaire served and entered 63

during the study

Test of suppositions 72

Recrimination of findings 77

CHAPTER FIVE SUMMARY, CONCLUSION AND RECOMMENDATIONS

Summary 78

Conclusion 80

Recommendations 82

References 85

excursus 88