in Federal Universities
in South-East Nigeria
FEATURED PAPER
By Jovita N. Nnametu, Prof Charles C. Egolum,
Prof Fidelis I. Emoh, PhD and Prof Dr. Kelvin C. Okolie
Nigeria and Botswana
Abstract
Purpose: The purpose of the study is to investigate housing finance strategies for the provision of staff housing in Nigerian Federal Universities. The aim is to investigate and analyze the effective and accessible housing finance strategies for provision of staff housing in Nigerian Federal Universities especially in the Southeast.
Design/methodology/approach: A review of related literature identified various housing financing strategies. A well-structured research questionnaire relevant to required variables was developed and administered to staff of the various institutions under study using convenience and Purposeful sampling techniques through physical delivery and electronically (Google form). The data were analyzed using descriptive statistics (frequencies, percentages, and mean) the Pearson correlation coefficient and the t-test of significance of the correlation coefficient were also used for the analysis.
Findings: The data analysis showed that the provision of staff housing has strong positive correlation with efficient and accessible financing strategies. The provision of staff housing is dependent on the efficiency and accessibility of available financing strategies. Existence of large undeveloped land and high credibility to access the finance are the major finance eligibility criteria for any university while revealing the Public Private Partnership as the best financing option.
Practical implications: The study could form the basis of policy document and decision for the university management. Can be a reference point to housing finance institutions, development agencies and other property providers on the best strategies that will be beneficial to them and the public universities according to their peculiarities. It serves as an added knowledge to researchers and students in the field of housing finance and housing development regarding the best options capable of achieving a credible staff housing delivery.
Originality/value: Discussions on financing strategies for staff housing especially as it affects the universities have not received much scholarly attention, this study offers an expository knowledge and recommendation expected to be utilized by the management in providing efficient financing for staff housing. It also established that staff unions, Cooperative Societies, Public-Private Partnership Options, National Housing Fund (NHF), Grants and subvention, Pension Commission Loans can be effectively harnessed to provide efficient financing for staff housing.
Keywords: Financing Strategies, Staff Housing, Federal Universities, South-East Nigeria
- Introduction
Staff housing accommodation, in the context of multi-dimensional concept explain housing condition as that which meets the worker’s physiological, psychological, security and economic needs (Ibem et.al,2015). It supports that homelessness or unacceptable housing conditions are primary factors that limit proper human functioning, hence establishing the strong link between difficult housing conditions and the increase of crime rate (Terminski, 2011). Other researchers describe housing as a major indicator or index to measure or equate ones living standard including the physical and mental stability (Nnametu and Emoh, 2020; Sanusi, 2003; Agbola and Olatubara 2007). As the social responsibilities of the government, in attainment of sustainable development goals, government in developing countries at several times institute Public Housing Programs to help curb the menace of housing accommodation, especially for public servants. This scenario is more visible in developing countries where large population of urban residents especially paid workers have difficulties in accessing decent and adequate housing, hence a continual challenge that elicit concern from government of the day, professionals, developers, and other individuals (Ibem & Amole, 2010). Although the concerted efforts of government in attending to the problem relating to provision of adequate, affordable, and sustainable housing have not yielded much desired success. Most tertiary institution-based housing related research is usually geared towards student housing with less emphasis on staff housing, which has shown that its provision has significant positive impact on students’ overall academic performances (Adama, Aghimien and Fabunmi 2018; Maina and Aji, 2017). There is no gainsaying that housing need for staff especially in the public university can be overemphasized, owing to the exigency of their intellectual and administrative duties. Akinsanya et al. (2017) attests that staff housing is very essential for the smooth and efficient running of the university, as the studies stressed that the crucial roles of the academics are best carried out in serene and peaceful environment which the university environment offers. Hassanain, et,al,2010) also affirm that accommodating staff and faculty within the university not only offer convenient access to the workplace but also establishes a moral link and sense of belonging essential for high calibre academic staff within their institutions.
More…
To read entire paper, click here
How to cite this paper: Nnametu, J. N., Egolum, C. C., Emoh, F. I., Okolie, K. C. (2024). Financing Strategies for Staff Housing in Federal Universities in South-East Nigeria; PM World Journal, Vol. XIII, Issue VIII, August. Available online at https://pmworldlibrary.net/wp-content/uploads/2024/08/pmwj144-Aug2024-Nnametu-et-al-financing-for-staff-housing-in-fedral-universities-in-SE-Nigeria.pdf
About the Authors
Jovita N. Nnametu
Owerri, Imo State, Nigeria
ESV Jovita. N. Nnametu is a Lecturer in the Department of Quantity Surveying, Federal University of Technology, Owerri Imo State. She holds a National Diploma (ND) in Town and Regional Planning, B.Sc and M.sc Degrees in Estate management, PGD in Education and has concluded her PhD research at Nnamdi Azikiwe University, Awka Anambra State, Nigeria. Her research is on Real Estate Finance and Investment especially on Housing Finance Strategies. She has a career centered on teaching, training and mentoring students and young professionals. She has published many journal articles and presented papers in both local and international conferences, webinars. Jovita can be contacted at jnnametu@gmail.com or jovita.nnametu@futo.edu.ng
Prof Charles C. Egolum
Awka, Nigeria
Prof. Charles C. Egolum, is a Professor of Real Estate & Valuation in the Department of Estate Management, Faculty of Environmental Sciences, Nnamdi Azikiwe University, Awka, Nigeria.
Prof Fidelis Ifeanyi Emoh, PhD
Awka, Nigeria
Prof Fidelis Ifeanyi Emoh, PhD is a Professor of Real Estate & Valuation in the Department of Estate Management, Nnamdi Azikiwe University, Awka, Nigeria with over 40 years varied experience in teaching, research, administration and professional consultancy.
Prof Dr. Kevin Chuks Okolie
Awka, Nigeria
Prof. Kevin Chuks Okolie holds a Doctor of Philosophy Degree in Construction Management from Nelson Mandela Metropolitan University, Port Elizabeth South Africa. Prof. Okolie was formerly the Head of the Department of Building at Nnamdi Azikiwe University Awka, Anambra State Nigeria. His research interest lies in the development of Building Performance Evaluation Methodology, Health and Safety Management and Built Asset Management Systems. His published papers and articles on Construction and Facilities Management have appeared in many international conferences and peer reviewed journals. Prof Okolie can be contacted at kc.okolie@unizik.edu.ng or kevinokolie@rocketmail.com.
