Social Policy And Housing Need in Nigeria By SEO MORDI Presented: At A Two-Day Workshop on Your Right To Own A house Organized by the Delta State Ministry of Housing On 26 & 27 June 2002 In Asaba

Housing need, one of the three basic human needs for food. clothing and shelter is considered in this paper as a social problem. Like many other major social problems such as such poverty, crime, population growth in relation to natural resources and drug abuse, housing problem has five major characteristics.

Accordingly and as much as possible, housing need will be examined under five characteristics namely; social causation, evaluation as a problem, citizen concern, people affected, that is the sufferer and actions taken so far to alleviate or reduce housing problem: Before concluding some perspectives aimed at ameliorating housing problem will be highlighted.

Social policy may be defined as the guidelines, decisions, programmes or plans and positions of government and public authorities intended to resolve or reduce the problem of housing. Social Policy precedes social action, which is largely interpreted through the social services. Social services depend upon financial and other resources. Besides looking at social policy on housing, an attempt will be made to examine actions taken by government to influence housing situation.

In any area of social policy a major problem is the definition and interpretation of need. This is more difficult in the area of housing because of the wide range of objective and subjective factors that must be taken into account by those responsible for the formulation, Grafting and implementing policy as well as the varied needs of the sufferer of housing problem and professionals in the housing industry.

It is however useful to make a distinction between housing need and effective demand. Housing need for government officials and planners is essentially the extent to which existing housing accommodation fails to meet in standard. This is regardless of the ability to pay or any peculiar preferences. In the Marxian term, housing need is determined by the absolute requirement of the individual irrespective of his level of income or productivity.

On the other hand, effective demand is basically a concept, most commonly used, by such market professionals as building society managers, estate agents, surveyors and Solicitors. These professionals are mainly concerned with the quantity and quality of housing that a household can afford to pay for out of present and expected future income. It is an economic concept and does not have any normative implications.

From the point of view of an individual household seeking to meet what it perceives as its housing needs there are more or less tangible objective elements and less tangible, but nevertheless important, subjective considerations. The three most important objective elements will be, the physical standard of the dwelling, its location and the security of tenure attached to a dwelling. The subjective elements are limitless. According to Turner1, these include identity, security and opportunity. Identity has to do with the tact that housing is often a reflection of personal status; by security Turner means the role that housing can play in crystallizing past achievement; opportunity refers to the role housing circumstances play in facilitating access to social and economic advancement

The definitions of housing need by government officials, market professionals and individual household are relevant and valid. The point in including subjective elements in the" definition of housing need is to stress that any housing policy aimed at realizing only the quantifiable factors, however energetically pursued, may still fail to meet the aspiration of many households.

Though we speak of standard or quality of housing, neither the government officials nor the market professionals, talk less of the individual household, have defined these concepts in absolute or relative terms. The architects and town planners, per chance, do impose some standard or quality on builders who may not be the occupiers of houses. The policy implication of this situation is for the policy maker on housing to reconcile the varying views of housing needs as conceptualized by government officials, market professionals and individual household.

Housing Problem

According to the Human Development, Nigeria 19982, the unprecedented growth of urban population is largely responsible for housing problem in Nigeria. The States with the largest proportions of urban dwellers, far in excess of the national average are Lagos (94 percent), Oyo (69 percent), Anambra (62 percent), Osun (56 percent), Edo (45 percent), Ogun (45 percent) and Kwara (43 percent). The inevitable outcome of this explosion is the aggravation of urban blight and squalor resulting in the majority of urban dwellers living under subhuman conditions in slums and squatter settlements without employment and any visible means of livelihood.

As far back as 1954. Ekwensi 3 in his novel, people of the city described the housing condition of a typical household in urban center as experienced by a visitor them:

I have come to see Aina's mother, 'Go in; He could not see his way forward. With hands outstretched he groped towards what might be a door. His head caught against something and he ducked. He was in. He could feel the room was large, like a low ceiling hall. In one corner a light flickered. He tried to move, but something caught his step and he staggered. Then he realized that the entire floor was covered with sleeping bodies. He was in a kind of bedless open dormitory. Everyone but the old woman slept on the floor. Old, young, lovers, enemies, fathers, mothers they all shared this hall. From early childhood Aina had listened to talks about sex, seen bitter quarrels, heard and perhaps seem adults bare their passions shamelessly like animals. from early childhood she had learnt the facts of life without being taught.

Upon the creation of Delta State in 1991 and consequent upon the influx of people from Edo State and elsewhere into Asaba, the small town almost certainly witnessed an experience similar to the episode narrated by Cyprian Ekwensi. Other towns, such as Warn, Sapele, Agbor, Ughelli, Ibusa and Ogwashi-Uku, to a lesser degree experienced population explosion relative to the available accommodation.

In a series of Household Studies and Housing and Building Surveys of Bendel State Local Government Headquarters 4 carried out by the Ministry of Finance and Economic Planning, Department of Statistics. Benin City in 1972. 1975 and 1980, it was found that average household size was 6 and, in most cases, a household lived in a one room apartment. In effect, the occupancy rate is 6 persons per room. In a number of cases, one room housing 6 persons also serves as sitting room, bedroom, dining room, kitchen and store. Thus the cases of overcrowding and living subhuman life like rats in a hole are established.

Compare the Nigeria situation with the English housing condition in the 1930s. According to Part IV of the Housing Act, 1936 overcrowding is defined in Section 58 and the Fifth Schedule to the Act by reference to either the number of persons sleeping in the same room or the number of persons in relation to the number and floor area of the rooms. The number of persons permitted in relation to a dwelling room are as follows:

Table I

 Where a house consists of -

(a) one room                                                                                                            2

(b) two rooms                                                                                                           3

(c) three rooms                                                                                                         5

(d) four rooms                                                                                                         71/2

(e) five rooms or more                                                                                             10

with an additional 2 in respect of each room in excess of five

Table II

Where the Floor area of a room is -

(a) 110 sq ft. or more                                                                                                2

( b) 90 sq ft or more but

(c) less than 110 sq ft                                                                                                11/2

(d) 70 sq ft or more but less than 90 sq ft                                                                     1

e) 50 sq ft or more but less than 70 sq ft                                                                     1/2

f) Under 50 sq ft                                                                                                         Nil

Continuing, the Section provides for offences in relation to overcrowding. For example, "If the occupier or landlord cause or permits a house to be overcrowded, he shall be guilty of an offence".

Furthermore, the 2 persons permitted per room should not be of opposite sexes except both are husband and wife or one of the persons is below the age of one year.

By implication, if we want to achieve the concept of housing for all, we must reduce our rate of 6 persons per room to 2 persons per room.

This means stepping up our investment in new housing by upwards of 300 percent. It could be as high as 600 percent if we realize that most houses funded by private effort take 2 to 6 years to complete.

In terms of quality, the Human Development Report, Nigeria 19866 stated at page 24 that with respect to access to toilet facilities the households nationwide are distributed as follows:

(a) Uncovered Pit Toilet                                                                                                  3%

(b) No Facilities                                                                                                             46%

(c) Sewage                                                                                                                   1%

(d) Septic Tank                                                                                                             2%

(e) VIP - 8%

(f) Covered Pit                                                                                                               27%

(g) Others                                                                                                                     13%

The Housing and Building Survey on Asaba (1980) at Table 4.5 found houses with amenities as below:

(a) Tap Water in the Compound                                                                     42.4%

(b) No Tap Water in the Compound                                                                 57.6%

(c) With Electricity                                                                                        58.6%

(d) With Telephone                                                                                        2.5%

(e) Water Cistern Toilet                                                                                  41.8%

(f) Pit Latrine                                                                                                 55.9%

(g) Bucket Latrine                                                                                         1.0%

(h) No Toilet                                                                                                 1.00%

(i) Unspecified                                                                                               0.3%

With regard to the British standard or quality. Ferns found that 83% of the houses in 1971 have water and water cistern toilet. This is against the Nigeria situation of the national average of 11% and urban rate of about 40%.

Causes of Housing Problem

As far back as 1960 Aboyade9 wrote that labour content of housing cost was about one quarter or 25% while imported materials contributed 40% of the cost. He also argued that shift from the construction of residential houses to the provision of office space, hospitals and educational building had a toll on the cost of housing.

Truly, the continuous re-organization, decentralization and reform of government and administration have their impacts on the provision of housing. The Nigerian Federation with 3 regions in 1960 rose to 4 in 1963 and subsequently went to 12 and 19 before resting on 36- state structure. The local government areas have risen in number over time from under 100 in 1960 to774 now. Similarly the bureaucratic set up, the legislature, executive and judiciary arms of government have multiplied at the federal, state and local government levels. To accommodate these changes, funds spent on the provision of office space, schools and hospitals mean opportunity costs for housing.

The collapse of the naira against the hard currencies from which over 40% of the building materials are imported has given a great blow to the housing industry. In the early 1980s, the naira was exchanging for about 3 dollars or 2 British pounds. In 1997 and 1998 the naira officially was exchanging at the rate of N22 to $1 or N77 to N80 per dollar at the parallel market. Today, the naira is exchanging at between 112 to 135 per dollar and 167 to the British pound.

Closely related to the collapse of the naira in the world market is the effect of price inflation. As reported at page 21 of the European And Statistical Review 1998 by the National Planning Commission, Abuja the average inflation rate over the years is as follows:

Year         1994        1995                 1997                 1998                     Total

Rate%     61.7         62.5                 65.3                     12                     204.3

By 1999 inflation had climbed again to 10.00%. Today it stands at some 19.5%. During the period under review real gross domestic product was stagnating at some 2.5%. In real term, individual households could not save enough to meet the rising costs of housing.

Investment returns on housing are very low compared to alternative investments available- For it is more attractive to invest on bank deposits and treasury bills, which yield upwards of 15 to 22%, than investing on housing with returns of 3 to 10%. When alternative avenues for investment opened up coupled with inflation, the locally based system of self- generated fund collapsed and no comparable source of finance for landlords has since evolved. Banks do not normally lend for long enough periods and if they do at all their rates of interest of 25 to 35% far exceed the returns of 4 to 10% on housing. Building society or mortgage institutions terms are not generally acceptable to Landlords.

As indicated by the 1980 Housing and Building Survey12 housing has in the past, been funded as below:

Source of Fund

From the Table above individual household funded between 91 and 98% of housing. Commercial banks funded less than 2.5% of the housing while DDPA or Mortgage firms met up to 3.5% of the housing fund. Now that individual savings or self-generated source has been impaired by the collapse of the naira and inflation, what source do we resort to? The

Commercial banks are not forthcoming as explained above. Can we then look at the role of government - federal, state and local governments —in the provision of housing. Once more we have recourse to the Housing and Building Survey 1980 as below:-

Distribution of Residential Houses by Ownership

While individuals provide about 95% of the housing stock, the Federal government provides, on the average, 1%, the state government provides about 2.5%, the local government meets 0.5% and the business organization provides 0.02%.

As contained at page 50 of Nigeria Federal Republic Expenditure Review 4 by World Bank, April, 1996. Report No. 14447/UNI, Federal Government's capital expenditure on housing over 8 years is as below:

Year 1986 1987 1988 1989 1990 1991 1992 1993 % Total

Exp. (Nbillion) 0 012 13 14 9 13 12 11

% Change 0 0 infinity 8 7 -36 44 8

There is inconsistency or instability in expenditure on housing. Spending 11% of capital expenditure to produce 6 persons per room may require over 33%, which is unacceptable to Federal Government, to achieve 2 persons per room. Federal residential houses are more for staff occupation while in office and may not meet individual need for permanent quality, location and security of tenure. The State housing programmes and activities are not remarkably different from the Federal situation. Local government and business organization cannot be relied upon. Where then do we go to?

Citizen Concern

As indicated above, when Cyprian Ekwensi15 wrote his book, People of the City, a satire on city life as opposed to rural way of life as far back as 1954, he saw housing problem as dehumanizing and the inhabitants of the stums, ghettos and shanty towns having their own subculture or counterculture different behaviour patterns, value systems and expectations. The living conditions are not only degraded but are accompanied with crimes and violence. Though Ekwensi was touched and concerned with housing need in the city, he made no attempt to protest or reform the situation.

Prominent leaders such as Brigadier Samuel Ogbemudia, former Military Governor of Bendel State, Chief J. A. Jakande, former Governor of Lagos State and Alhaji Shehu Shagari, Ex-President of Nigeria showed considerable concern for housing need in Nigeria. Brigadier Ogbemudia initiated studies on housing problems, set up housing institutions and developed housing estates for the low and medium income groups in all Bendel State Local Government' Headquarters.

Chief Jakande was famous for land reclamation, slum decongestion and development of low-income estates in Lagos. When he became a minister of the Federation under the military, he initiated low cost housing programmes in all the State Capitals. His programme was cut short and abandoned by a change of government in 1993.

Alhaji Shehu Shagari, piqued by the housing need of the poor decided in 1979 to build 1000 Low cost housing units in each of the State Capitals during his tenure in office as President between 1979 and 1987. He really started to implement his programme during his first term 1979 — 1983. His programme was aborted by a military coup in December 1983 at the outset of his second term.

Workers and middle income groups showed remarkable concern about housing need by demanding from their employers staff accommodation while in office and staff housing loan. Often and again, the demands were backed with industrial action. Senior Staff too showed interest in housing and were able to secure accommodation areas known during the colonial time as European Quarters.

The United Nation Development Programme16 (UNDP), through a series of its Human Development Reports, Nigeria 1985, 1992 and 1997 consistent showed that the proportion of Nigerian poorly housed ranged from 34.7% in 1992 to 47% in 1997. Hav'ng brought the degenerating situation to public limelight, the UNDP made a number of suggestions (macro in nature) for redressing the problems.

At the statistical level, the Ministries of Finance and Economic Planning, Federal Office of Statistics, Central Bank of Nigeria and National Planning Commission have, through their reports and surveys since the 1960s, brought to the public the housing need in terms of quantity and quality. Of course, these agencies publish their reports as routine duty. They made neither recommendations nor policies on how to tackle the problem.

Actions to Reduce Housing Need

Right from colonial time up to Nigerian Independence, the housing problem was overwhelmingly a preoccupation with the health of towns. Government involvement in the housing condition of colonial or expatriate staff, the poor and working classes was not primarily benevolent. It was a by-product of the attempt to impose sanitary control on the anarchic unplanned twentieth-century cities. Government was concerned with the necessity for adequate drainage, fresh water supplies and clean air, all essential to combat recurrent epidemics of cholera and typhoid which struck at the rich and poor. Later came reforms involving the reduction of urban congestion by means of slum clearance, the imposition of density standards and the control of building plots and street layouts. These measures were often not popular with the sufferers of housing problems.

Basically, government has taken two approaches to the amelioration of the housing problem These are by direct provision of houses and involvement in the private housing markets.

Government, at the federal, state and local government levels and through housing corporations, such as the Federal Housing Authority (FHA), Lagos State Development and Property Authority (LSDPA) and Bendel Development Property Authority (BDPA). have, since independence, been constructing houses for sale to the public. This approach, which absorbed 11% of Federal capital budget, was able to meet not more than 2.5% (federal), 7.5% (state) and 0.2% (local) housing required. To be able to meet the quality and quantity of housing where the occupancy rate will be about 2 persons per room and over 80% of the households have water cistern toilet system government needs to step up its investment in housing by over 300%. This will consume over 33% of the capital vote and may be unacceptable to government.

The second approach involves government in private housing market. By this, government creates the enabling environment through laws, regulations, grants, loans, subsidies, tax reliefs, rent, and price control. Accordingly such agencies as the building societies, Federal Mortgage Bank of Nigeria, Primary Mortgage houses or corporation came into being. In particular, the National Housing Fund Policy was introduced to assist the sufferers of housing problem to benefit.

Due to teething problems and slow take off of the National Housing Fund (NHF) administered by the Federal Mortgage Bank of Nigeria (FMBN), the workers and their union found the policy unacceptable. The abrogation of the NHF was part of the grievances for workers strike in 1979. Workers complained of lack of passbooks to document their 2.5% 10 contribution, non-grant of loan by the FMBN and the unlikelihood of obtaining early refund of the contribution after retirement.

Two alternatives were left to the workers. One is direct housing loan from the employer while the other is self-generated savings. We have found that loans from employers, whether government or business organization, cannot impact housing need by as much as 10%. This alternative, to me, is a none issue and ought to be foreclosed as a symbolic gesture only.

Self-generated fund in the past met over 97% of housing stock. But since the collapse of the naira, increased cost and proportion of imported materials and price inflation of double digits, reliance on self-funding has been failing. Consequently buildings take between two and six years to complete or they are abandoned.

Furthermore, it is generally accepted that building cost not less than two and half times annual income. With savings ratio of 10%. a worker's requires 10 years to save one year's income or 25 years to save two and half years salary. At this rate most workers will never be able to build their own houses while working.

In the developed world who funds housing?. In the United States, according to Peter G. Miller17, majority of the residential house are funded through home equity mortgages and loans, insurance loans and pension funds. Traditional lenders, commercial bank facilities and credit cards are used as bridging loans. Federal Housing Authority (FHA) loans are available to only owner-occupants who purchase single-family properties. Pure investors are prohibited from FHA financing. To qualify for the FHA loan applicants contribute 30% of the first $25,000.00 5% of the next $100,000.00 and 10% of any higher amount.

As obtained in England18 in 1977, 69% of housing is funded by private markets while 31% is met by public authorities (Local Government) group and carry some stigma of poverty. With respect to funded houses households are required to contribute 20 to 25% of the cost.

In Nigeria over 97% of housing are funded by individual households, about 10% by public authorities, 3% by mortgage institutions, less than 1% by banks and business organization respectively. Under the NHF, a prospective house owner is required to contribute only 2.5% of his income as against 10 to 25% in the USA and in England. While interest rate for housing in the developed world is about 3% less than Commercial bank rates, in Nigeria, the FMBN on-lending rate to housing is 9% against the Commercial bank rates of 25 to 35%.

Who Suffers From Housing Problem?

The poor and the middle income group are the immediate sufferers of the housing problem. About 7% of the Nigerian population, the very poor are either homeless or live in shanties and batchers. Some 40 percent of the population spends about 36% of their income on rent. In Asaba, Warri and Lagos, for example, the middle income group on a monthly salary of N22.000.00 pay N8.000.00 per month as rent for 3-Bedroom house. This works out as 36.36% of the salary. Worse still, the tenants are required to pay one year to two years rent in advance.

According to the United Nation norm. adopted by Bendel State in the 1970s and 1980s, an individual is expected to spend not more than 20% of his income on housing. In' Nigeria, following this norm, an excess of 16% rent is extreme hardship on the people.

It is not only the low income group and middle class that are suffering from housing problem. The suppliers, traders, transport operators, cement and steel manufactures, timber and woodworkers are suffering from housing problem. The Nigerian economy is even suffering. As indicated at pages 49 - 51 of the Economic and Statistical Review191996 by the National Planning Commission, Abuja the contribution of housing to the Gross Domestic Product (GDP) stagnated between N2.25 and N2.64 billion for the period 1992 to 1997 as follows:

Housing contribution to GDP

Year1992 1993 1994 1995 1996 1997

Amount Nb 2.25 2.34 2.41 2.49 2.51 2 64

As pointed by Aboyade20, there is a case of pockets of excess capacity in housing due to misinvestment or conspicuous consumption. Some people build large and magnificent houses in the rural areas and live in squalor in urban center. Accordingly Aboyade:

Nor is the existence of excess capacity in buildings confined to the private sector. In broad terms about 60% (in value) of government buildings (and this ratio holds true for both stock and the recent flows) are for residential purposes; and these are further dominated by the requirement for senior staff housing at highly subsidized rent. (8%) Now apart from the social injustice involved, most of us are probably also aware of the inefficient way in which these buildings are used, the classic example being the Parliamentary flats in Lagos. The social and political injustices may be left to Journalists and social commentators. As professional economists our immediate concern is to attempt to measure these excess capacities in money terms to indicate the opportunity costs involved and to assess the impact of such maladministration of investing funds on out rate of economic growth

In effect, housing problem affects the low and high income groups, the businessmen in the building industry and hurts the economy in many ways.

Perspectives On the Amelioration of Housing Need

Government should intensify its involvement in private housing market by creating favourable macro-economic environment. In particular, government should shore up the naira against further depreciation, reduce rates of interest and keep inflation below double digits. More subsidies in the form of tax relief, grants, loans at low interest rates should be made available to the mortgage finance institutions, which should pass on these incentives to housing loan borrowers.

Less emphasis should be placed on direct provision of housing. In fact, the provision of housing accommodation to government functionaries, as recommended by the Revenue Generation and Allocation Commission, should be monitized to stem misinvestment of government funds and reduce social and political injustices as pointed out by Prof. O. Aboyade.

Private individual households and employees should focus on self-generated savings and the National Housing Fund Scheme as sources of housing finance. The National Housing Fund appears to be more reliable than any other source because its terms are borrower friendly. The requirement of 2.5% contribution is the lowest all over ine world and the rate of interest charged, 9%, is also the lowest in Nigeria. The assurances of the refund of contribution, probably with interest upon retirement with benefiting from the loan scheme is attractive.

In order to reduce mistrust between the managers of the NHF. the Federal Mortgage Bank of Nigeria and the contributors, the FMBN should empower the contributors through information sharing, training, coalition building and synergy. The FMBN should create appropriate forum for meeting with the workers, unions, contributors and mortgage institutions to dialogue and eliminate mistrusts and misunderstandings.

Arrangement should be put in place, whereby retiring contributors who did not benefit from the loan scheme, should be paid their contribution with interest along with their gratuities. This will reduce anxiety over the refund of the contributions. The FMBN should review its lending conditionalities and ensure that not less than 75% of the fund is loaned out. This will give encouragement and hope to the contributors.

Conclusion

In this paper, my thesis is that the most viable option for meeting housing need as a social problem is mortgage financing on long term basis. By implication, the individual householder cannot meaningfully avoid mandatory savings if he or she is to own a house.

Nigeria housing problem occurs in the forms of shortage in quantity and low quality or standard. While the developed world enjoys 2 persons per room, Nigeria suffers 6 persons per room. Worse still against the United Nation norm of 20%, on rent. Under 50% of housing in Nigeria, compared to over 80% in the developed world, are of high quality with water supply, electricity, telephone and water cistern toilet system.

Shortage of housing is due to the increasing cost of building material over 40% of which are imported from hard currency countries, the collapse of the naira. price inflation, more attractive returns on non-housing investments and declining propensity to save.

Housing problem affects mainly the low and medium income group who spend over 36% of their income on rent. About 7% of Nigerians are either homeless or live in shanties and batchers. Businessmen and organizations in the building industry have stagnated. Nigerians who live in or pass through the slums, ghettos and shanties are victims of crimes and violence associates with the counter culture in these areas. The whole Nigerian economy is adversely impacted in the form of almost trendless contribution of housing to the GDP.

The individuals, government and business organizations have. shown concern for housing as a social problem. Individual funding had been greatest in the past. This is now retrogressing due to the weight of naira depreciation, price inflation and increasing costs of materials. The contribution of public authorities and business organization are less than 11%. Government direct provision of housing has led to inefficiency and social injustice. Only government involvement through the housing market has a future and is more capable of impacting housing need. Mortgage Finance Institutions seem to be the most viable option in reducing housing need.

Government should provide the enabling environment to enable the private housing market flourish. The prospective house owner should realize early enough that the easiest and surest way to own a house is through contribution to the NHF on long-term basis. Any other approach may appear to be described as quick fix and this is never the most feasible and optimal solution.

Reference

1. Turner, J.F.C. and Fitdor, R. (1972), Ch.7 in Freedom To Builds

Macmillan, London.

2. United Nations Development Programme (1998), Nigeria Human Development Report 1998, P39, Lagos

3. Ekwensi Cyprian, (1954), People of the City, Pages 33-34 Andrew Dakers, London

4. Ministry of Finance and Economic Planning (1980). various pages, Report of Building and Housing Survey, Benin City.

5. Clarke, John J. (1955), p.26, The Local Government of the United Kingdom, Isaac Pitman, London.

6. UNDP (1998), p. 24, Nigeria Human Development Report Lagos.

7. Ministry of Finance and Economic Planning (MFEP) 1980, Table 4.5, Benin-city

8. Ferris, John S. (1979), Ch. 4 in Introducing Social Policy, ed Marsh, David C. Routledge & Kegan Paul, London

9. Aboyade. O. (1960), Some Features of the Building and Construction Activities in Nigeria (Prelimary Stridy) in Conference Proceedings December 1960, NISER, Ibadan.

10. National Planning Commission (NPC) (1998), The Economic and Statistical Survey. Review, p. 25, Abuja.

11. NPC (1998) p.24 Abuja

12. MFEP (1980). various pages, Benin City

13. Ditto, various pages.

14. World Bank (1996), Nigeria Federal Public Expenditure Review, p.

50, Abuja.

15. Ekwensi, Cyprian, Op Cit

16. UNDP, Op Cit

17 Miller, Peter G. (1995), Chs 6-8, Successful Real Estate Investing Haper Perennial, New York

18 Ferris, J. S., Op Cit

19 NPC (1998) pages 49-51, op. Cit

20 Aboyade, O. (1960), p-6 of Conference Proceedings December, 1960, NISER, Ibadan.