Social and Behavioral Sciences Commons^™

Keynote Address By Godwin, I. Emefiele (Con), Godwin I. Emefiele

Economic and Financial Review

This keynote address presented by Mr Godwin I. Emefiele (CON), the Governor, Central Bank of Nigeria at the seminar on “Addressing Nigeria’s Housing Deficit”, for CBN Executive Staff at Transcorp Hotels, Calabar, Cross River State, October 07 - 09, 2019.

Welcome Address By Adebiyi Michael Adebayo, Michael A. Adebiyi

Economic and Financial Review

This welcome address presented by Dr. Michael Adebiyi, the Director, Research Department, Central Bank of Nigeria at the seminar on “Addressing Nigeria’s Housing Deficit”, for CBN Executive Staff at Transcorp Hotels, Calabar, Cross River State, October 07 - 09, 2019

Housing Sector, Economic Growth And Development: Conceptual Issues And Theoretical Underpinnings, Uwatt B. Uwatt

Economic and Financial Review

This article provides a theoretical overview of the contribution of housing sector in economic growth and development. The sector plays a very important role in the social and economic development of a country through its impact on major macroeconomic indicators such as: employment, savings, investment and labour productivity. After the introduction the article examined: conceptual issues on housing, economic growth and development; housing and economic growth and development: theoretical issues; housing, economic growth and development debate: historical perspective. The article concludes by recommending that: Governments in less-developed countries can intervene in the housing sector through comprehensive policies and large-scale investments, …

Institution And Housing Development: Mirage, Magic And Miracle Of Low- Cost Housing In Nigeria, Olukayode S. Oyediran

Economic and Financial Review

The article examines housing development with reference to the challenges encountered by the various low- cost housing interventions in Nigeria. The article observed that despite institutional interventions from both the fiscal and monetary authorities, the Nigerian housing deficit still remains a challenge to the government, stakeholders and the citizen. Challenges of adequate access to housing finance include affordability, access to land, cost of construction, rising cost of construction resources (materials and labour). The first section contextualises the challenges of the Nigerian housing deficit in the milieu of population explosion and urbanisation. The second section examines the theoretical issues bordering on …

Developing The Housing Sector In Nigeria – A Regulator’S Perspective, O. A. Martins

Economic and Financial Review

This article provides a regulator’s perspective on developing the housing sector in Nigeria. The article first examines the interest of the regulator in the housing sector with specific reference to the CBN’s responsibility for the regulation and supervision of all the financial institutions involved in providing housing finance. The article then examined the state of the housing sector in Nigeria and the issues that have hampered the growth of the sector including: absence of access to low cost funding; weak legal framework; inadequate housing supply; and undercapitalised mortgage banks. On the regulator’s perspective on housing market development the article identified …

Legal And Regulatory Framework For The Mortgage Industry In Nigeria, Kehinde Ogundimu

Economic and Financial Review

This article examines the legal and regulatory framework for the mortgage industry in Nigeria. The article examines the concept of housing as a global need and provides an overview of the Nigerian Housing Market with a population of 183 million people and increasing rapidly, a huge housing deficit of around 17 million units. This is further compounded by a rapid rising need for housing by about 20 per cent a year in cities like Lagos, Ibadan, Kano, and Abuja. At least 700,000 housing units across different segments are needed annually to keep up with demand, whereas, production was around 100,000 …

Unlocking The Potentials In The Housing Market Through Public Private Partnerships (Ppp) Investment Model, Chidi K. C. Izuwah

Economic and Financial Review

The article examines strategies on how unlocking the potentials in the housing market through the Public Private Partnerships (PPP) investment model. The model is seen as essential given that housing is now an indicator of personal socio-economic standing in society, and a core determinant of standard of living and access to economic opportunities globally. The article further discusses the imperative for Public Private Partnership (PPP) Housing and Social Housing or Public Rental Housing. Furthermore some PPP models that may be suitable for housing projects in Nigeria are identified like: Build Own Operate; Design-Build-Finance-Maintain-Operate/Build Operate Transfer and Operation and Maintenance Contract. …

Housing Deficit In Nigeria: Issues, Challenges And Prospects, Akpan Ekpo

Economic and Financial Review

This article examines the issues, challenges as well as prospects in the Nigerian housing sector. Following the introductory section, section 2 provides stylised facts about the real estate sector in Nigeria; section 3 investigates the challenges facing the housing sector in Nigeria, as a foundation towards proffering viable policy options in eradicating the housing deficit in the country. Section 4 provides the policies capable of curbing housing deficit in Nigeria, while section 5 discusses the prospects. Section 6 concludes the article.

Addressing Housing Deficit In Nigeria: Issues, Challenges And Prospects, Emmanuel Abolo Moore

Economic and Financial Review

The article examines the dimension of housing deficit in Nigeria, assess government intervention in tackling the problem of house shortages and proffer solutions that can help reduce the deficit considerably. Basic conceptual issues relevant to housing deficit in Nigeria is first discussed. These issues include: housing, housing deficit, urbanisation, and housing policy. This is followed by an examination of the current level of housing deficit in Nigeria which put existing housing stock at 23 per 1000 inhabitant; housing deficit as at December 2018 at 20 million units (15.0 per cent increase); N21 trillion required to finance the deficit. A look …

Addressing Housing Deficit In Nigeria: Issues, Challenges And Prospects, Ibi S. Ajayi

Economic and Financial Review

The article provides a brief review of housing policies under various regimes in Nigeria namely: the colonial era; independence and beyond; The Shagari administration (1979 -1983); Obasanjo regime under civilian rule14 (1999-2007); Yar’dua regime (29 May 2007 – 9 February 2010); Goodluck Jonathan regime (2010 – 2015); The Buhari administration (2015-2019). The article then discussed the problems militating against the achievement of targets in housing as well as the issues and opportunities. The article concluded by stressing the need to: maintain a conducive macro-economic environment which entails the maintenance of low inflation, low interest rates and stable exchange rates; deepen …

The Land Use Act And The Nigerian Housing Sector, Yusuf Yahaya

Economic and Financial Review

The article discusses the Land Use Act and the and how it has affected developments in the Nigerian housing sector. Prior to the Land Use Act, all the existing tenure systems encouraged land holding without an obligation to develop them, fragmentation and uncoordinated alienation, hoarding speculatively for value appreciation and without precise documentation. Consequently, the Land Use Act was enacted to: make land easily accessible to all Nigerians; prevent speculative purchases of communal land; streamline and simplify the management and ownership of land; make land available to government at all levels for development; provide the system of government administration of …

Issues, Challenges, And Prospects In The Housing Sector: Operator’S Perspective, Festus Adebayo

Economic and Financial Review

This article provides an operator’s perspective on the issues, challenges, and prospects in the housing sector in Nigeria. Topics covered include existing housing situation in Nigeria; and issues and challenges affecting affordable housing in Nigeria. The article also examines the prospects for Nigeria housing sector and made key recommendations which include: Creating enabling policies around land title documentations; Fast track the passage of foreclosure bill into law to legally resolve default issues in the sector; Advance the ongoing partnership between the Mortgage Banking Association of Nigeria (MBAN) and the Central Bank of Nigeria (CBN) with regards to the underwriting standards …

Measuring Dynamic Return And Volatility Connectedness Among Nigerian Financial Markets, Elias A. Udeaja

CBN Journal of Applied Statistics (JAS)

This study employs the connectedness measure of Diebold and Yilmaz (2012, 2014) to examine the intensity of connectedness among the Nigerian financial markets for the period January 2000 to December 2018. The study used all shares index, Treasury bill rate and Naira/USD official exchange rate to measure stock market, money market and exchange rate market, respectively. The study found connectedness among the Nigerian financial markets to be highly time-varying and appear to be higher during the period of high depreciation of the naira which coincides with the period of falling oil prices and domestic economic meltdown of 2014 and 2016, …

Special Remarks By Okwu Joseph Nnanna, Okwu Joseph Nnanna

Economic and Financial Review

This special remarks presented by Dr. Okwu J. Nnanna, the Deputy Governor, Economic Policy Directorate of the Central Bank of Nigeria, at the seminar on “Addressing Nigeria’s Housing Deficit”, for CBN Executive Staff at Transcorp Hotels, Calabar, Cross River State, October 07 - 09, 2019

Bridging Housing Deficit In Nigeria: Lessons From Other Jurisdictions, Adeola F. Adenikinju

Economic and Financial Review

This article examine housing deficit in Nigeria, drawing lessons from other jurisdiction with a view to recommending measures that would bridge such deficit. The article first examine facts and figures behind the housing Deficit in Nigeria. These include supply side constraints; demand side constraints; housing sector and Nigeria’s economy; housing interventions in Nigeria; intervention and policies in the colonial period; the post-independence period; the post-military era; and 2000 till date. The article highlighted lessons from other Jurisdictions specifically: mortgage lending in selected developed economies like: United States, German, United Kingdom, Israel, Spain; othe countries Singapore; Egypt; Malaysia. In conclusion the …

Strengthening Institutions For Housing Delivery In Nigeria, Ademola Bamidele

Economic and Financial Review

This article discusses innovative structural reforms and investments that can improve housing delivery in Nigeria. Following this introduction, we would focus on the issue of housing as a fundamental human right, then a review of housing developments in Nigeria. In examining how to improve housing delivery in Nigeria, the article underscores the need for strengthening public institutions through the application of appropriate policies that would enhance optimum utilisation of existing resources for efficient housing delivery. The article highlights the need for renewed collaboration and commitment particularly among stakeholders and putting in place, specific workable institutional arrangements that would enhance sound …

Addressing Housing Deficit In Nigeria: Issues, Challenges And Prospects, Aliyu Rafindadi Sanusi

Economic and Financial Review

The article first, provides a detailed overview of the housing deficit problems in Nigeria and the Government’s efforts at resolving them. The next section briefly conceptualises and reviews the various issues and challenges faced in addressing the housing deficit in Nigeria. The article then discusses the prospects for resolving the housing crisis in Nigeria.

Finding Foreign Friends: National Self-Determination And Related Norms As Strategic Resources During The Biafran War For Independence, 1967–1970, Christopher Brucker

New England Journal of Public Policy

The study analyzes how the government of the Republic of Biafra used international norms to win foreign support during its 1967–1970 campaign to secede from Nigeria. Secession conflicts occur at the intersection of international and domestic politics. For independence movements, support from outside is crucial. But, as Bridget Coggins has asked, how can secession movements find “friends in high places”? International support for unilateral secession attempts is strictly prohibited. Domestic and international asymmetry are limiting secessionist foreign policy instruments to intangible means. Legitimacy is a central concept to illuminate the phenomenon. In international politics, legitimacy depends on the external perception …

Social Media Utilization For Policing And Crime Prevention In Lagos, Nigeria, Sunmisola Eniola Peters, Usman Adekunle Ojedokun

Journal of Social, Behavioral, and Health Sciences

The benefits embedded in the use of social media for policing and law enforcement are increasingly becoming recognized globally. Despite the growing popularity of social media in Nigeria, empirical information on the disposition of police personnel toward their adoption for policing and crime investigation are generally scarce. Therefore, this study investigated the use of social media for policing and crime prevention among 122 police officers serving at the headquarters of the Lagos State Police Command. The research design was descriptive and cross-sectional. Survey questionnaire and key informant interview methods were employed for data collection. Results indicated that respondents were generally …

Women’S Political Participation And Grassroots Democratic Sustainability In Osun State, Nigeria (2010-2015), Isola Abidemi Abiola

Journal of Interdisciplinary Feminist Thought

Studies on Osun State and women's representation in both the federal and state levels and in the legislative and executive arms of government indicated it has the second highest women's representation in South West, Nigeria. This gives an impression that democracy is being sustained at the grassroots. However, the fact on the ground is to the contrary, especially when compared with their male counterparts and their representation in government. Therefore, this study explores women's political participation and grassroots democratic sustainability in Osun State, Nigeria from 1999 to 2015.This study adopted survey research design. Data were collected through questionnaires and unstructured …

Estimation Of Sacrifice Ratio For The Nigerian Economy Using A Time Varying Adrl Approach, E. T. Adamgbe, M. O. Abeng, A. A. Omosola

Economic and Financial Review

Monetary policy in the last few decades had focused on creating the enabling conditions for sustainable economic growth, using the level of inflation as the pivotal tool, complemented with central banks’ independence and monetary policy transparency. However, attaining the delicate balance of achieving low inflation and optimal output, with minimal tradeoffs has been a cause for concern for policy makers. Thus, the measurement of the output loss, arising from the inflation-output tradeoff, forms the fulcrum of this study. This study estimates the sacrifice ratio using a state space methodology in an aggregate supply framework to adjust for real business cycle …

Nigeria’S Cultural Policy And The Needs Of The Performing Arts, Chukwuma Anyanwu

International Review of Humanities Studies

Nigeria is a country reputed for its rich and diverse cultures from the multi-ethnic nationalities that make it up. Indeed, the diversity of traditions and cultures are evidenced in the nation’s more than four hundred and seventy (470) tribes. It is in the bid to ensure that each cultural entity is preserved, projected and promoted, that Nigeria has a cultural policy. The cultural policy is decidedly synonymous with the arts and artists since the arts and artists mainly generate the bulk of what materially, at least, constitutes culture. Of course, culture is derived from material and immaterial products all which …

Oil Price And Exchange Rate Nexus In Nigeria: Are There Asymmetries, Attahir B. Abubakar

CBN Journal of Applied Statistics (JAS)

This paper examines the dynamics in the relationship between oil price and exchange rate in Nigeria by utilizing monthly data spanning January 1986 to June 2018. It specifically determines asymmetries in the relationship between oil price and exchange rate and the effect of oil price shocks on exchange rate. Threshold Autoregressive (TAR), Momentum Threshold Autoregressive (MTAR) and Structural Vector Autoregressive (SVAR) models were employed for the analysis. Findings of TAR and MTAR models confirm the absence of asymmetric cointegration, hence leading to the conclusion that in the case of Nigeria, there are no asymmetries in the relationship between oil price …

Bound By Silence: Psychological Effects Of The Traditional Oath Ceremony Used In The Sex Trafficking Of Nigerian Women And Girls, Jennifer Millett-Barrett

Dignity: A Journal of Analysis of Exploitation and Violence

Nigerian women and children have been trafficked to Italy over the last 30 years for commercial sexual exploitation with an alarming increase in the past three years. The Central Mediterranean Route that runs from West African countries to Italy is rife with organized crime gangs that have created a highly successful trafficking operation. As part of the recruitment process, the Nigerian mafia and its operatives exploit victims by subjecting them to a traditional religious juju oath ceremony, which is an extremely effective control mechanism to silence victims and trap them in debt bondage. This study explores the psychological effects of …

Cultural Renaissance And The Quest For Peace And Development In Nigeria, Olusola Matthew Ojo Ph.D.

Journal of International and Global Studies

The phenomenon of elusive peace and its implications for socioeconomic development and political stability have remained a subject of scholarly interest in Nigeria’s post-colonial discourse. There have been diverging and converging opinions over the variables responsible for this, and the prospects for recovery. This paper seeks to contribute to the scholarly process of filling the subsisting gap in the extant body of literature by re-interrogating the role of culture in Nigeria’s quest for sustainable peace and development. Employing qualitative method of data collection, and adopting thematic approach for content analysis, findings reveal that peace and development have remained elusive in …

"Baby Factories": Exploitation Of Women In Southern Nigeria, Jacinta Chiamaka Nwaka, Akachi Odoemene

Dignity: A Journal of Analysis of Exploitation and Violence

Despite the writings of feminist thinkers and efforts of other advocates of feminism to change the dominant narratives on women, exploitation of women is a fact that has remained endemic in various parts of the world, and particularly in Africa. Nigeria is one of those countries in Africa where women are largely exposed to varying degrees of exploitation. This paper examines the development and proliferation of baby-selling centers in southern Nigeria and its impacts on and implication for women in Nigeria. It demonstrates how an attempt to give protection to unwed pregnant girls has metamorphosed into “baby harvesting” and selling …

Exploring The Cultural Perceptions Of Physical Activity Among Transnational Nigerian Immigrants, Kelechi D. Ibe-Lamberts, Daudet Ilunga Tshiswaka, Abi Fapohunda

Journal of Health Disparities Research and Practice

Background: Transnational Nigerian Immigrants, as other Transnational African Immigrants, are a subset of African immigrants with the unique ability to sustain multi-national ties. These ties could potentially affect health behavior choices and participation in physical activity. Physical Activity has the potential to improve health and prevent chronic diseases; however, there is a lack of literature regarding physical activity and its determinants within the Transnational African Immigrant population in general. This study investigated the cultural factors that shape Transnational Nigerian Immigrants’ perceptions and attitudes towards physical activity.

Methods: Semi-structured, individual interviews supported by photo-elicitation were conducted on 24 Transnational …

Extremism As A Response To Globalization: Case Study: Nigeria, Quinn Johnson

Occam's Razor

In this era of globalization, relationships between institutions, organizations, and individuals have achieved unprecedented connectivity worldwide. While producing both positive and negative outcomes, the vast majority of these interactions are nonviolent in nature. In some cases, however, the impacts of globalization colliding with traditional cultures and their values have resulted in violent extremism. While such extremism can be observed in many different states worldwide, Nigeria presents a particularly interesting case.

Though vastly different in character, two ongoing conflicts in Nigeria, the Boko Haram Insurgency and the Niger Delta Conflict, can both be considered responses to certain aspects of globalization. Using …