Journal of Emerging Trends in Economics and Management Sciences: Home

Article Title:
National Housing Trust Fund and Low-Income Housing Delivery in Nigeria: A Discourse
by Jolaoso, B. A., Musa N.A. and Oriola, O. A

Abstract:
Housing is one of the basic needs for human existence, yet not many people can provide for themselves because of limited means. Difficulty in accessing credit facilities have resulted into the emergence of informal settlements through self-help approach which might have instigated the establishment of National Housing Trust Fund (NHTF) in Nigeria. This paper discusses the challenges of accessing NHTF credit facility, with a view to establishing or otherwise the workers? eligibility and affordability based on Federal Mortgage Bank of Nigeria?s Repayment Plan and their income. Data were collected from literatures and complimented with reconnaissance survey on selected building types in Abeokuta, Ibadan and Jos metropolises and their relative cost of construction. The study is limited to workers in the civil/public services, using subsisting Consolidated Public Service Salary Structure in Nigeria as guide. The Average Basic Monthly Income- Repayment Plan was derived from prevailing FMBN affordability table (2008) on the National Housing Fund loan to ascertain workers? eligibility and affordability or otherwise. Information gathered was reviewed, discussed and descriptively presented. Findings are that NHTF is not easily accessible for low income housing delivery due to low income and savings; stiff pre-conditions for accessing land and credit facilities etc; and concludes that increase in workers? salary will stimulate more participation/contributions and improve upon investible fund that will in turn enhance accessibility to NHTF credit facility for low income housing delivery.

Keywords: low-income housing, credit, accessibility, affordability, eligibility

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