Journal • CITN Journal

Editorial Board

Editor-in-Chief

Professor Rafiu Oyesola Salawu

Department of Management & Accounting, Faculty of Administration, Obafemi Awolowo University, Ile-Ife

Managing Editor

Professor Godwin Emmanuel Oyedokun

Department of Management & Accounting, Lead City University, Ibadan, Nigeria

Editorial Board Secretary

Mary-Fidelis Chidoziem Abiahu

Director, Research and Professional Standard, Chartered Institute of Taxation of Nigeria

Editorial Board Members

Professor Chinedum Nathaniel Nwezeaku

Federal University of Technology, Owerri

Professor John Adeoti

Nigeria Institute of Social and Economic Research (NISER), Ibadan

Professor Uche Jack-Osimiri

Faculty of Law, River State University, Port Harcourt

Professor Aruwa Suleiman Akwu-Odo Salihu

Nasarawa State University, Keffi Nasarawa State Nigeria

Dr. Eiya Ofiafoh Ofiafoh (Associate Professor)

Department of Accounting, University of Benin, Benin City, Nigeria

Dr. Stephen Chukwuemeka Mark Abani

MCSA Worldwide Projects Limited, Abuja, Nigeria

Dr. Kenny Adedapo Soyemi

Department of Accounting, Olabisi Onabanjo University, Ago Iwoye, Ogun State, Nigeria

Professor Joseph Uchenna Uwaleke

Department of Banking & Finance, Nasarawa State University, Keffi Nasarawa State, Nigeria

Barrister Chukwuemeka Eze

Faculty of Law, Nasarawa State University, Keffi Nasarawa State, Nigeria

Mr. Simon Nwanmaghyi Kato

Federal Inland Revenue Service, Chairman’s Office, Abuja, Nigeria

PRIMARY MORTGAGE INSTITUTIONS FINANCING OPTIONS AND HOUSING SECTOR DEVELOPMENT IN NIGERIA

Description

PRIMARY MORTGAGE INSTITUTIONS FINANCING OPTIONS AND HOUSING SECTOR DEVELOPMENT IN NIGERIA

Authors

SOYEMI, Kenny Ade, ARIYIBI, Mayowa Ebenezer and OLAIYA, Kehinde Isiaq

Abstract

Among, the necessities of life, food, clothing, and shelter are the three most important needs that an individual requires and that must be made available by the government of a nation to its populace, but in Nigeria shelter has continuously become a menace among the citizens. Based on this lacuna, this study examined the impact of primary mortgage institution financing options and housing sector development in Nigeria. The study adopted ex-post facto research design where panel data was sourced from audited financial statements of eight (8) primary mortgage institutions in Nigeria, from the year 2011 to 2022. The convenience sampling technique was used in selection of the mortgage banks for data availability purposes. The panel regression estimation technique was applied on the model intending to examine the impact of the financing option of customer deposit, national housing fund, development loan, and shareholder equity on housing development proxied with urban population. The findings from fixed effect model revealed that national housing fund and shareholder’s equity have positive and significant effect on the urban population while customer deposit has negative and significant effect on urban population in Nigeria. It is concluded that national housing fund in the treasury of the primary mortgage institutions should be channeled accurately with the required interest thereby improving on the housing development in the economy.

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