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Cover page –        –        –        –        –        –        –        –        –        i

Title page    –        –        –        –        –        –        –        –        –        ii

Certified Page       –        –        –        –        –        –        –        –        iii

Dedication  –        –        –        –        –        –        –        –        –        iv

Acknowledgement –        –        –        –        –        –        –        –        vi

Abstract      –        –        –        –        –        –        –        –        –        vii


1.1     Background of the study –        –        –        –        –         –        1

1.2     Objective of the study              –        –        –        –        –        3

1.3     Research Questions –      –        –        –        –        –        –        4

1.4     Scope of the study –        –        –        –        –        –        –        4

1.5     Significance of the study –        –        –        –        –        –        5

1.6     Limitation of the study             –        –        –        –        –        5

1.7     Definitions of Terms                –        –        –        –        –        6


          Review of Related Literature

2.1     Finance Situation  –        –        –        —      –        –        –        7

2.2     Sources of fund to Finance Housing Estate   –        –        –        7

2.3     Housing Development Estate Finance –        –        –        –        17

2.4     Housing Estate as an investment –       –        –        –        –        17

2.5     Advantage of Housing Estate Investment      –        –        –        18

2.6     Housing Problems in Nigeria-   –        –        –        –        –        18

       Research Design and Methodology     –        –        –        –        21

3.1     Research Design    –        –        –        –        –        –        –        21

3.2     Re-Statement of the Problem    –        –        –        –        –        21

3.3     Brief Description of the Problem-       –        –        –        –        21

3.3.1 Geographical Location-    –        –        –        –        –        –        21

3.3.2 Physical Features   –        –        –        –        –        –        –        22

3.3.3 Climate and Temperature –        –        –        –        –        –        22

3.3.4 Topography  –        –        –        –        –        –        –        –        22

3.3.5 Vegetation   –        —       –        –        –        –        –        –        23

3.3.6 Soil    –        –        –        —       –        –        –        –        –        23

3.3.7 Historical Development    –        –        –        –        –        –        23

3.4     Population of the study   –        –        –        –        –        –        24

3.5     Sources of Data    –        —       –        –        –        –        –        25

3.5     Instrument of Data collection   –        –        –        –        –        27

3.6     Method of Data Presentation and Analysis    –        –        –        27

4.0     Data Presentation –        –        –        –        –        –        –        28
4.1     Data Presentation and Analysis of Data        –        –        –        28

4.1.2 Distribution of Data According –        –        –        –        –        28

4.1.3Distribution of Data According to Age  –        –        –        –        29

4.44 Distribution of Data According to Education –        –        –        30

4.2     Presentation of Data According to Research –         –        –        31

4.3     Presentation of Data According to Research Objective/ Research32 Questions 2

4.4     Presentation of Data According to Research Objective/ Research32 Questions 3

4.5     Presentation of Data According to Research Objective/ Research34 Questions 4


Summary of Findings, Conclusion and  Recommendations

5.1     Recommendation – –        –        –        –        –        –        –        35

5.2     Conclusion –        –        –        –        –        –        –        –        38












Housing is one of the three basic needs of mankind and it is the most important for the physical survival of man after the provision of food.  Decent housing is one of the basic needs of every individual, the family and the community in general.  As a pre-requisite to the survival of man, it ranks secondly only the food.  It is also one of the best indicates of a persons standard of driving and his place in a society.  The housing and individual lives in a symbol of his status, a measure of this achievement and social acceptance, an expression, an expression of his personality and the barometer that seems to indicate in a large measure. The way the individual perceives himself and how the perceived by the large society. Is the measure of all good (or bad) things in life that will come to him and his family (Agbola, 1995).

The importance of housing in human development has been well documented by scholars.  The position of scholars varys depending on the aspect of housing each one delves into.  Omirin (1998), researched into land a accessibility and low income house building in metropolitan Lagos. Based on her analysis of house builders behavior of selected low income earners of Lagos she asserts that it is a wrong notion to continue to rank land accessibility as the greatest constraints of house builders.

She stated that lack of finance an escalating cost now takes precedence overland accessibility.  Williams (2002), opines that access to shelter produced by public agencies continue to conclude the urban poor who simply cannot muster the financial resources required to procure these housing units.  Jaiyeoba and Amole (2002) examined the appropriateness and socio economic implications of law income housing delivery as supportive rather than provider approach.  They stated that what a required is the determination of the extent to which the law income groups require support.  Olusola Aina and Ata (2002) identified lack of soft loan as one of the major obstacle against urban housing production Nigeria.

However, the fact remain that Enugu Metropolis has been the administration centre for the then Eastern region, Enugu metropolis is occupied mainly by government workers with low income. This position makes for their use.  They therefore resort to borrowing from both formal and informal sources in order to find money for housing development and also Enugu metropolis is made up Enugu.

The questions then is the existing financial institutions in Enugu metropolis enough to satisfy the demand for residential housing loans of these law income earner residing in Enugu metropolis? If not how can be situation be improved.  This research worth therefore intends to the existing finical structure of Enugu metropolis with a view to finding out how efficient it has been performing and proposing how the system could be improved.

Housing estates are fundamental and essential features in the urban environment.  Adequate provisions of housing estate have economic and social life of the urban citizens and its inadequate has the Enugu effect.

The shortage of housing estate is one of the major problems facing the urban centers especially in the developing countries this could be attributed to estate development countries this could be attributed to development which involves large amount of money which is usually not within the capability of most urban dwellers particularly the medium and low income groups, the rate of housing estate construction often tend to be small and generally depend on financial resources. This situation of financial scarcity is made worse by the rigid attitude of financial institution towards lending for housing development.  Their system of housing is granting loan made it very difficult for the medium and low income groups to the benefit from the available facility.  The bulk of the mortgage loan go to the upper class.(bichi 2ooo) mortgage bank of Nigeria in financing procurement of housing infrastructure In Nigeria workshop paper organized by the Nigeria instate of quantity surveyors abujaa.


The main objective of this study is to examine the role of financial institutions in housing development in Enugu metropolis with a view to:

  1. To examine the extent to which the financial institution have contributed in the housing developing in Enugu State.
  2. To examine the relationship between financial institutions and housing development in Enugu.
  3. To determine effect of the prevailing housing development in Enugu.



  1. To what extent has the financial institutions contributed in the housing development in Enugu state?
  2. What is the relationship between financial institutions and housing development in Enugu?
  3. What are the effects of prevailing interest rate on housing development.
  4. What are the challenges encountered by financial institution towards housing development in Enugu.


This topic the role of financial institutions in housing development in Nigeria (A case study of Enugu Metropolis, Enugu State) is very vast but for purpose of manageability, and finance constraints, it has therefore been restricted or limited itself to financial institutions, Enugu State.  In choosing the financial institutions the researcher has limited his research to those areas of the financial institutions, a operations of the institutions that helps. In the development of housing in the sate this has been so because the research assumed that financial institutions are saddle with the responsibility of enhancing even in the development of hosing in Enugu State.






A study on housing estate finance is very financial institution of hosing estate finance is very unable and could be utilized to achieve certain academic objectives. Enlighten the government, student and researcher on the important of housing estate finance.

The general result obtained from this study is educative, informative and broader the awareness of the public on current sources of housing estate finance in the estate.

Estate surveyors and values could apply the result of this research work in their future housing estate finance planning and the sorry role to the public.

The study would be utilized in making new housing estate policies and ensuring their implementation. This is because any housing policy that does not place priority on source of finance would eve remain incomplete. It will also serve as basic for the allocation of finance for housing estate programmers.


It can be seen from all indications that a research such as this cannot be carried out in one semester. There are constrains that limit the work of the researcher. Among these are.

  • Inadequate Time: – The time available is very limited; as a result of this the researcher is restricted to some place for interviews and questioning during the collection of data.
  • Insufficient Fund: The fund available to the researcher is not sufficient to carry out this research work.  As a result of high economic hardship as well as high cost transportation.
  • The inability of some government officials to disclosed certain reliable information which they considered confidential may also limited the study.
  • There is also scarcity of current textbooks on tax because tax laws are constantly changed and so many textbooks are obsolete for this topic.

Finally, the  academic workload is one of the limiting factors on this research work, despite all these constraints, the researcher is able to carryout a fair and effective study on this topic.


–        Housing Estate Development: Is a group of houses in an area of land, built only for dwelling purpose and not for commercial or industrial purposes.

–        Financial Institution: Defined as informational or formal act of providing money in the sense of financial planning, the estimating of cash receipt and disbursement.

Finance may be defined as the management function of managing the flow of funds in an organization. It is also seen at the provision of money or means of payment of the time it is wanted.

  • Development: the term development is mostly applied in relation of land values and estate surveyor sees it as a way of embarking on constructional work that will amount or given rise to utilization of land with the improvement or re-improvement of an already utilization of land with its improvement or re-improvement of an already utilization one.


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