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Cover page

Title page

Approval page



Table of content




1.1  Background of the study

1.2     Statement of the problem

1.3     Objective of the   study

1.4     Significance  of the study

1.5     Limitations of the study

1.6     Definition of the  terms



2.1     Review of related literature

  • Urban development bank and other development banks
  • Similarities Between urban development Banks
  • Differences Between urban development Bank and other development banks.




Research design and methodology

3.1     Source of data (secondary source only)

3.2     Location of data

3.3     Method of  collection



General findings


Recommendation and conclusion




In the history of Nigeria most of the government at one time or the other and also the  articulate member of the public have recognized the growing need of urban infrastructual development in Nigeria this can easily be inferred from the   alarming rate of urbanization in Nigeria over the past few years and the continued deterioration stats  of urban  environments and the numerous attendants problems .

The background to the settling up of the urban development Bank of Nigeria PLC can betrayed to the preparation of the third National development plan in 197475. at that period , urban  problems were b becoming more visible and important that the than federal Government had to set up a federal ministry of urban development  and the Environment. This ministry had to b e scrapped about three years late due to the inhabit of the ministry to properly execute its operations, as a realty of the failure of conceptualization of what showed be the omission of the  ministry

In appreciation of the necessity to redress the situation of deteriorating state of our urban environments various committees had been setup by Government to look into the matter adequately. These committees came up with  various reports and proposals to establish a commission of urban Affairs or urban development. One of these proposals gave his to the establishment in 1977 of the Nigeria state urban development programme (NSUDP) for the propose of reducing the acute  shortage  of accommodation on the then newly created states of abaci, Bennie, Googol, IMO, Niger, Ogun and Ondo. But it was soon realized that the programme was not capable of  adequately handling the problem of urban development .


As a result of this inadequately the infrastructure development fund (IDF) was in 1985 as a replacement for the Nigerian states urban Development programmes. The infrastructual Development fund soon ran into troubled waters in order to find a permanent (or lasting solution to the problem, government accepted the proposal of developing a financial structure based on local initiatives and resources for urban development with increased value of financial discipline. Hence, the urban development bank of Nigeria plc was established under decree No 51 of 1992, better known as the urban development bank of Nigeria decree of 1992.

In  conclusion, the urban development Bank of Nigeria plc was established and charged within the promotion and development of urban centers through the provision of financial credit on along term basis to states, local government and private sectors for the purpose  of the urban project financing.

The bank expected to finance projects on urban infrastructure, urban general economic development project, social projects and institutional development.



The supply, upkeep and systematic expansion of various categories of infrastructual is of great importance to any programme of urban enhancement. It is therefore not far-fetched for the reason behind section3 of the enabling decree establishing the urban development bank of Nigeria plc which categorically states that the “faster the rapid development of urban infruacture throughout the federation through the provision of finance and banking services”. To be able to fully comprehend his objective of the bank, it is quite pertinent to comprehend the nature of infrastructure. Infrastructure is basically social overhead  capital which needs  to be differentiated from directly productive activities. According to Hirsman, “social overhead capital  exhibits the following characteristics:

(a)  The services cannot be imported” according to  Mabogunje   “Nigeria is recognized as one of the countries in Africa with a relative high level of urbanization.

(b) The services are predicted in practically all countries by public agencies or by private agencies subject to some public control they are provided free of charge or at rates regulated by public agencies.

(c) The services they facilitates or are in same sense basic to the carrying on of a great variety of economic activities. In respect of cities with at least half a million people, Nigeria has nine (9) out of the total in substance Africa as at1987, many activities in Nigeria today have along history, many of them developing from one area of long winding streets and roads with attendant poor housing to another.  Infact the system of indirect rule used by our colonial masters meant that little attention was given to deals of administration as long as the paramount ruler was able to collect taxes from his subjects. But this nonetheless, colonial masters had interest in some Nigeria cities for the purpose of providing decent residential area for the Europeans. In 1977, Lord Luggard categorized Nigeria n cities into three (3) classes, on the ability of those cities to raise funds and provide their infrastructual  needs.


Consequently, these cities were allowed some degree of autonomy.  The only grade one city in Nigeria then was Lagos .Though raising of funds from property tax and other sources available to it. Lagos was able to provide itself with many infrastructual facilities of modern urban existence with it’s water works dating back to 1914, other Nigerian cities like Calabar, Benin-city, Ibadan, Sokoto, Zaria and Kano were either Grade II or III cities. It is quite clear that none of these visible effects be addressed without enough financial resources. Without these financial resources, Nigeria cannot embark or any meaningful urban reformation exercise. Finally, it is in recognition of the efforts of the urban Development Bank of Nigeria in financing of infrastructual amenities in urban centers, the problem associated with such project financing the benefit or urban infrastructure development in urban centers first and in Nigeria as a whole, that inspired the writers to take on the topic “ AN EVALUATION OF THE IMPACT OF URBAN DEVELOPMENT BANK IN PROJECT FINANCING IN NIGERIA (1992-1966).



The purpose for which the writer decided to undertake this study is listed bellows.

  1. To review the sources of funds available to the urban Development Bank of Nigeria plc.

ii To identify the various types of project financed by the urban Development Bank of Nigeria.

iii To found out extent of participation in projects by the urban Development Bank of Nigeria.

iv To evaluate the impact of urban Development Bank of Nigeria on the Nigeria Economy.

v To review how the urban Development  Bank of Nigeria grants loans to its customers.

To its identify performance of  urban development bank of Nigeria to assess the effects of government polices on the operations of urban development bank of Nigeria .

To make recommendation based on the findings of the research. .to see if management of urban development bank Nigeria is making inadequate investment with mobilizes funds.



Although the bank is not financed adequately it has been able to embark upon some projects which include infrastructure loan scheme: the bank has granted a loan of N263 million to eleven local government councils and a tourism firm for the execution the infrastructure loan scheme is a participatory fund mobilized to provide soft loans for the provision of sustainable cities programme has introduced by the united nations center for human settlements to assist cities in the thieved world counties to arrest infrastructure leeway and strengthen environmental management capacity to the programme .already abandon cannoned Enugu ere Nigerian cities that benefited from the programme. Municipal enterprises the bank made available the sum of N402 million as loan to 23 local governments for municipal development and for the provision of social services . Nigerian the establishment of the Nigerian urban forum the bank initiated the establishment of the Nigerian urban forum which is erudite –disciplinary in-governmental organization to be a watchdog of the urban environment .

Secure and execute two able to secure and execute consult involving rehabilitation programme involving rehabilitation and procurement of mass transit vehicles and urban social waste management .

  1. Urban basic services programme: It works in collaboration  with the Federal Ministry of works and Housing  and UNICEF in the implementation of the Urban Basic services programme.  This scheme provides micro credit facilities to complement physical provision of urban send to ensure employment end income generation in the urban areas.



The researcher during the course of this research was limited by shortage of finance, mistily as a result of the harsh economic condition that as prevailing in the country.  The  nature  of  the  academic calendar of  institute  greatly  reduced    the time available  to the  work.

Finally, the inability  of  the  banks  officials to finish  the

researcher  with  certain  facts and  figures due largely  in  the  Bank’s

policies  concerning  giving all  of such  information.



The following  terms  were  used  in this chapter.

  1. IDF-Industrial Development fund.
  2. UDBN-Urban Development Bank of  Nigeria   PLC.
  3. NSUDP-Nigeria States Urban Development Program



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