Nigeria : Developing Housing Finance
This report summarizes the results of the analytical work on housing market finance carried out by the World Bank Group at the request of the Ministry of Finance. The purpose of the work was to inform the policy dialogue about how best to develop a...
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| Format: | Report |
| Language: | English en_US |
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World Bank, Washington, DC
2016
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| Online Access: | http://documents.worldbank.org/curated/en/102491481528326920/Nigeria-Developing-housing-finance http://hdl.handle.net/10986/25780 |
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okr-10986-257802021-05-25T08:56:26Z Nigeria : Developing Housing Finance World Bank Group housing finance housing needs poverty inequality land rights land administration land use mortgages construction sector microfinance This report summarizes the results of the analytical work on housing market finance carried out by the World Bank Group at the request of the Ministry of Finance. The purpose of the work was to inform the policy dialogue about how best to develop a sustainable housing finance market in Nigeria, and improve the effectiveness of interventions aimed at stimulating the housing market and providing quality housing to the population. The work was funded by DFID and carried out over 2013 and 2014. Experience has shown that an increase in housing production, especially at the lower reaches of the market, stimulates job creation, both skilled and unskilled; and that housing and other infrastructure investment is strongly linked to economic growth. While the availability of housing finance is essential for increasing housing production, sustainable and equitable housing production also depends on: (a) access to residential lands and basic services; (b) an efficient and transparent land administration; (c) legal protections; and (d) a macroeconomic environment that maintains low inflation and low interest rates. An essential part of making housing finance work for the poor is the availability of houses at lower prices in the market. The report summarizes the institutional landscape, policy framework, and public and private sector actors involved in housing finance, and focuses on the underlying reasons for the lack of housing finance, particularly for lower-priced houses for the poor. The report also summarizes issues related to the construction industry and building materials, an understanding of which is key to developing transformative policies in the sector. Finally, the report proposes possible new approaches to housing finance in Nigeria, based on international best practices. 2016-12-16T21:43:53Z 2016-12-16T21:43:53Z 2016 Report http://documents.worldbank.org/curated/en/102491481528326920/Nigeria-Developing-housing-finance http://hdl.handle.net/10986/25780 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Other Financial Sector Study Economic & Sector Work Africa Nigeria |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
housing finance housing needs poverty inequality land rights land administration land use mortgages construction sector microfinance |
| spellingShingle |
housing finance housing needs poverty inequality land rights land administration land use mortgages construction sector microfinance World Bank Group Nigeria : Developing Housing Finance |
| geographic_facet |
Africa Nigeria |
| description |
This report summarizes the results of
the analytical work on housing market finance carried out by
the World Bank Group at the request of the Ministry of
Finance. The purpose of the work was to inform the policy
dialogue about how best to develop a sustainable housing
finance market in Nigeria, and improve the effectiveness of
interventions aimed at stimulating the housing market and
providing quality housing to the population. The work was
funded by DFID and carried out over 2013 and 2014.
Experience has shown that an increase in housing production,
especially at the lower reaches of the market, stimulates
job creation, both skilled and unskilled; and that housing
and other infrastructure investment is strongly linked to
economic growth. While the availability of housing finance
is essential for increasing housing production, sustainable
and equitable housing production also depends on: (a) access
to residential lands and basic services; (b) an efficient
and transparent land administration; (c) legal protections;
and (d) a macroeconomic environment that maintains low
inflation and low interest rates. An essential part of
making housing finance work for the poor is the availability
of houses at lower prices in the market. The report
summarizes the institutional landscape, policy framework,
and public and private sector actors involved in housing
finance, and focuses on the underlying reasons for the lack
of housing finance, particularly for lower-priced houses for
the poor. The report also summarizes issues related to the
construction industry and building materials, an
understanding of which is key to developing transformative
policies in the sector. Finally, the report proposes
possible new approaches to housing finance in Nigeria, based
on international best practices. |
| format |
Report |
| author |
World Bank Group |
| author_facet |
World Bank Group |
| author_sort |
World Bank Group |
| title |
Nigeria : Developing Housing Finance |
| title_short |
Nigeria : Developing Housing Finance |
| title_full |
Nigeria : Developing Housing Finance |
| title_fullStr |
Nigeria : Developing Housing Finance |
| title_full_unstemmed |
Nigeria : Developing Housing Finance |
| title_sort |
nigeria : developing housing finance |
| publisher |
World Bank, Washington, DC |
| publishDate |
2016 |
| url |
http://documents.worldbank.org/curated/en/102491481528326920/Nigeria-Developing-housing-finance http://hdl.handle.net/10986/25780 |
| _version_ |
1764460160576651264 |