1.1 BACKGROUND TO THE STUDY
With a population of about 173 million people, Nigeria is the
largest country in Africa and accounts for 47% of West Africa’s
population. Given these large reserves of human and natural resources,
the country has significant potential to build a prosperous economy
characterized by rapid economic growth through real estate rebranding
leading to infrastructural development that can significantly reduce
poverty, inequality and improve standards of living of the population
through better access to and quality of health care, education and
infrastructure services (Falade, 2007).
One of the organization that has been promoting
real estate agency rebranding in Nigeria is The Real Estate Developer’s
Association of Nigeria (REDAN) which is the principal agency of the
organized private sector recognized by government and approved by the
Federal Mortgage Bank of Nigeria (FMBN) the apex mortgage lender in
Nigeria to facilitate the delivery of affordable mass housing in
Nigerians (REDAN, 2015).
Housing policy in Nigeria is as old as the
history of the country. Thus, we can broadly categorize its historical
development under the five distinct phases of the colonial period
(before 1960), the post- independence period (1960-1979), the second
civilian administration (1979-1983), the military era (1984-1999), and
the post military era (1999 to date). The major characteristic of the
colonial period was the provision of staff quarters for expatriates and
other indigenous staff of parastatals and organizations. This era
witnessed the creation of Urban Councils in 1946, the establishment of
Lagos Executive Board (LEBD) in 1954, the formation of Nigerian Building
Society in 1955, as well as the enactment of Regional Housing
Corporation in 1959. Also, the post-independence period experienced
some improvements in housing provision during the First National
Development Plan period (1962-1968) and the second National Development
Plan 1970-1974). Specifically, the formulation of the National Council
on Housing in 1971 led to further improvement in housing delivery. The
third National Development Plan (1975-1980) made further improvements
on housing programmes, policies and The transformation of the Nigerian
Building Society into Federal Mortgage Bank of Nigeria with the
promulgation of Decree No 7 of 1977 also brought some improvements into
housing delivery in Nigeria. The Land Use Decree (LUD) of 1978 was
promulgated in order to guarantee access to land by all Nigerians.
Before the promulgation of the LUD, dual land tenure structure was
paramount in the country. The LUD came to stabilize the ownership and
acquisition of land. Also, during the era, the constitution of the
Federal Republic of Nigeria (1979) laid emphasis on the importance of
local building materials and the relevance of labour and construction
industry. In this same year, the Employees Housing Scheme Decree No 54
of 1979 was promulgated.
This decree made provision for staff housing and
housing estates. The housing policy in the 1980s and 1990s was the
means by which divided society was being created. The rural areas were
neglected and the housing stocks in the urban areas were improved upon.
This was as a result of high rate of urbanization and the subsequent
housing shortage in urban centres. The military era witnessed further
improvements in housing policies and delivery. This was facilitated by
the promulgation of the Mortgage Institutions Decree No 53 of 1989. The
decree promoted the realization of the major and specific objectives
of the National Housing Policy. Furthermore, the Economic
Liberalization Policy of Babangida’s administration supported the
participation of the private organization in housing delivery. This was
closely followed by the promulgation of the Urban and Regional Planning
Decree 88 of 1992 as well as the National Housing Fund (NHF) Decree No
3 of 1992. The NHF was saddled with the responsibility of ensuring
continuous flow of fund for housing construction and delivery.
Prior to the millennium, the policy of ‘housing for all in year
2000’ was formulated. This policy was rigorously pursued, but it was
besieged by administrative bottlenecks which made the policy difficult
to be realized by the year 2000. Nevertheless, in year 2002, the
Housing and Urban Development Policy was formulated. This policy was
meant majorly to correct the inconsistencies of the Land Use Act as
well as to allow land banking and ownership to operate in a free market
economy. The post military era has been able to witness tremendous
improvement in the Nigerian housing situation (Akeju, 2007). However,
the federal government policy on monetization and privatization are
negating the objectives of housing policies and progammes. Other
constraints to housing development and delivery in Nigeria are poverty,
high cost of building materials, inadequate financial instruments for
mobilization of funds, short maturity preference of lending institution,
high rate of rural-urban migration, as well as high rate of poverty
(Kabir, 2004). Infrastructural development through mass housing
delivery in Nigeria will significantly boost the economy of the nation.
1.2 STATEMENT OF THE PROBLEM
Agbola (1998) noted that the effort of the government in terms of
the formulation and implementation of the National Housing Policy is
quite commendable. On the other hand, he opined that the efforts have
not shown remarkable improvement in the status quosince
many Nigerians are still homeless while up till this time, many are
living in dingy and ramshackle structures. Another major criticism of
the policy lies in the area of monitoring, evaluation and review. An
housing policy is derived from laws, regulations and administrative
practices that can aid the production and delivery of housing. However,
the researcher is of the opinion that infrastructural development e.g.
good housing can only be achieved through crops of professional real
1.3 OBJECTIVES OF THE STUDY
The following are the objectives of this study:
- To examine the level of infrastructural development in Nigeria.
- To determine if real estate agency rebranding can contribute to economic growth.
- To identify the effects of national housing policy on infrastructural development in Nigeria.
1.4 RESEARCH QUESTIONS
- What is the level of infrastructural development in Nigeria?
- Can real estate agency rebranding contribute to economic growth?
- What are the effects of national housing policy on infrastructural development in Nigeria?
1.6 SIGNIFICANCE OF THE STUDY
The following are the significance of this study:
- The outcome of this study will educate the professionals in
building industry on how the rebranding of real estate agency and the
national policy can enhance infrastructural development thereby
contributing to the economic growth.
- This research will also serve as a resource base to other
scholars and researchers interested in carrying out further research in
this field subsequently, if applied will go to an extent to provide
new explanation to the topic
1.7 SCOPE/LIMITATIONS OF THE STUDY
This study on infrastructural development, real estate agency
rebranding and review of nation housing policy as a road map to
economic development will cover the level of housing and other
infrastructural development in Nigeria. It will also cover how real
estate agency rebranding can be used as a tool for economic growth.
LIMITATION OF STUDY
Financial constraint- Insufficient fund
tends to impede the efficiency of the researcher in sourcing for the
relevant materials, literature or information and in the process of
data collection (internet, questionnaire and interview).
Time constraint- The researcher will
simultaneously engage in this study with other academic work. This
consequently will cut down on the time devoted for the research work.
Agbola, T. (1998). The Housing of Nigerians: A Review of
Policy Development and Implementation, Research Report No 14, Ibadan,
Development Policy Centre.
Akeju, A. A. (2007) Challenges to Providing Affordable
Housing in Nigeria. Paper Presented at 2nd Emerging Urban Africa
International Conference on Housing Finance in Nigeria. Held at
SheuYa-adua Centre, Abuja, Nigeria. October 17th – 19th 2007.
Falade, J. O. (2007) Planned City as Foundation for
Sustainable City. Being the Text of a Paper Presented at the Conference
on Sustainable Cities Orgnaised by the New Economic Partnership on
African Development (NEPAD), held at Transcop Hilton Hotel, Abuja. May
Kabir, O. K. (2004) Low-cost Technology and Mass Housing
System in Nigerian Housing. Journal of Applied Sciences. 4 (4):