Financing affordable housing in Niger State of Nigeria through commercial banks : trend, issues and future directions / Namnso Bassey Udoekanem

This study explored the trend in interest rates on real estate loans granted by commercial banks in Nigeria. Primary data used for the study were collected from selected real estate firms in Minna, the capital of Niger State of Nigeria, which are active in the residential property market in the cit...

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Main Author:	Namnso, Bassey Udoekanem
Format:	Article
Language:	English
Published:	Research Management Institute (RMI) 2011
Subjects:	Banking Financial management. Business finance. Corporation finance
Online Access:	http://ir.uitm.edu.my/id/eprint/13092/ http://ir.uitm.edu.my/id/eprint/13092/1/AJ_NAMNSO%20BASSEY%20UDOEKANEM%20SMRJ%2011%201.pdf

id	uitm-13092
recordtype	eprints
spelling	uitm-130922016-06-30T06:03:42Z http://ir.uitm.edu.my/id/eprint/13092/ Financing affordable housing in Niger State of Nigeria through commercial banks : trend, issues and future directions / Namnso Bassey Udoekanem Namnso, Bassey Udoekanem Banking Financial management. Business finance. Corporation finance This study explored the trend in interest rates on real estate loans granted by commercial banks in Nigeria. Primary data used for the study were collected from selected real estate firms in Minna, the capital of Niger State of Nigeria, which are active in the residential property market in the city. The secondary data were obtained from the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS). Results of data analysis revealed that variation in interest rates on real estate loans granted by commercial banks in Nigeria in the past three years was statistically significant at 0.05 level ofsignificance, an indication that interest rates on real estate loans granted by commercial banks in the country did not follow a similar trend. The paper examined the implications ofthis trend on affordable housing finance in Niger State of Nigeria and argues that more than 90 per cent of the households in Niger State could not afford real estate loans granted by commercial banks for housing development and acquisition in the area at the current interest rates. The paper concluded that greater involvement ofthe government at all levels in the provision of long-term real estate credit at affordable interest rates is necessary if housing finance to be made affordable for the low-income groups in Niger State, Nigeria. Research Management Institute (RMI) 2011 Article PeerReviewed text en http://ir.uitm.edu.my/id/eprint/13092/1/AJ_NAMNSO%20BASSEY%20UDOEKANEM%20SMRJ%2011%201.pdf Namnso, Bassey Udoekanem (2011) Financing affordable housing in Niger State of Nigeria through commercial banks : trend, issues and future directions / Namnso Bassey Udoekanem. Social and Management Research Journal, 8 (1). pp. 85-104. ISSN 1675-7017
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Teknologi MARA
building	UiTM Institutional Repository
collection	Online Access
language	English
topic	Banking Financial management. Business finance. Corporation finance
spellingShingle	Banking Financial management. Business finance. Corporation finance Namnso, Bassey Udoekanem Financing affordable housing in Niger State of Nigeria through commercial banks : trend, issues and future directions / Namnso Bassey Udoekanem
description	This study explored the trend in interest rates on real estate loans granted by commercial banks in Nigeria. Primary data used for the study were collected from selected real estate firms in Minna, the capital of Niger State of Nigeria, which are active in the residential property market in the city. The secondary data were obtained from the Central Bank of Nigeria (CBN) and the National Bureau of Statistics (NBS). Results of data analysis revealed that variation in interest rates on real estate loans granted by commercial banks in Nigeria in the past three years was statistically significant at 0.05 level ofsignificance, an indication that interest rates on real estate loans granted by commercial banks in the country did not follow a similar trend. The paper examined the implications ofthis trend on affordable housing finance in Niger State of Nigeria and argues that more than 90 per cent of the households in Niger State could not afford real estate loans granted by commercial banks for housing development and acquisition in the area at the current interest rates. The paper concluded that greater involvement ofthe government at all levels in the provision of long-term real estate credit at affordable interest rates is necessary if housing finance to be made affordable for the low-income groups in Niger State, Nigeria.
format	Article
author	Namnso, Bassey Udoekanem
author_facet	Namnso, Bassey Udoekanem
author_sort	Namnso, Bassey Udoekanem
title	Financing affordable housing in Niger State of Nigeria through commercial banks : trend, issues and future directions / Namnso Bassey Udoekanem
title_short	Financing affordable housing in Niger State of Nigeria through commercial banks : trend, issues and future directions / Namnso Bassey Udoekanem
title_full	Financing affordable housing in Niger State of Nigeria through commercial banks : trend, issues and future directions / Namnso Bassey Udoekanem
title_fullStr	Financing affordable housing in Niger State of Nigeria through commercial banks : trend, issues and future directions / Namnso Bassey Udoekanem
title_full_unstemmed	Financing affordable housing in Niger State of Nigeria through commercial banks : trend, issues and future directions / Namnso Bassey Udoekanem
title_sort	financing affordable housing in niger state of nigeria through commercial banks : trend, issues and future directions / namnso bassey udoekanem
publisher	Research Management Institute (RMI)
publishDate	2011
url	http://ir.uitm.edu.my/id/eprint/13092/ http://ir.uitm.edu.my/id/eprint/13092/1/AJ_NAMNSO%20BASSEY%20UDOEKANEM%20SMRJ%2011%201.pdf
first_indexed	2023-09-18T22:49:51Z
last_indexed	2023-09-18T22:49:51Z
_version_	1777417470775132160

Financing affordable housing in Niger State of Nigeria through commercial banks : trend, issues and future directions / Namnso Bassey Udoekanem

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