EXAMINATION OF THE NATURE OF HOUSING IN NIGERIA

EXAMINATION OF THE NATURE OF HOUSING IN NIGERIA
 
CHAPTER TWO
LITERATURE REVIEW
INTRODUCTION
Ratcliffe (1978) refers to housing as one of the components of planning since it gives shelter, security, privacy, investment and personal identity. With the exception of food, housing ranks highest amongst man’s basic needs in the Nigerian Fourth National Development Plan (1981 – 1985), and goes beyond simple shelter to include utilities and community services such as energy, water supply, access roads, sewerage, refuse disposal facilities and the likes. 
Adeleye (2012) asserts that the classification of housing depends on the number of rooms, existing comfort, form and the place where found. Agbola (1998) describes housing as an issue that touches on the life of individuals as well as that of a nation. As such, he ascribes great importance to the role played by housing in endangering human comfort by both nature and society. In addition, he stresses that housing which is a combination of characteristics provides a unique home within any neighbourhood, describing it as an array of economic, social and psychological phenomena. Jiboye (2004), therefore, asserts, “If the concept of housing is understood to represent the aforementioned expressions, then, housing designs and planning consideration should involve not only the physiological responses to the enclosed environment, but also the socio-cultural responses emanating from the socio-economic and cultural norms of the users. In this regard, all the ancillary services and community facilities, which are necessary for human wellbeing, including environmental and social services, personal safety and security, which are also essentials for housing should be provided.” 
In recent decades, there has been an increasing emphasis on the housing sector by different governments of the less developed countries (LDCs). Yet the sufficient and good nature provision of this basic need elude a high proportion of the population of these countries (Abiodun, O. 1985b; Olayiwola et al, 2005; National Housing Policy, 2006). Housing is a basic human need. The understanding of its concept, as well as its components that provide for good nature, as is germane to this study is evaluated. 
The Oxford Advanced Learner’s Dictionary (2014) defines nature as the standard of something when compared to other things like it; how good or bad something is. Afon (1998) asserts that nature cannot be considered differently from the process by which it is considered. Thus, standards housing are a measure of acceptability at a given time, place, in a given set of cultural, technological and economic conditions.  According to Weldemann and Anderson (1985), planners and designers have used several criteria over the years to evaluate housing nature. These include: 
i.                    Economic criteria such as the relationship between rent and income; 
ii.                  Physical criteria such as the integrity of the dwelling and the present plumbing fixtures; 
iii.                Social criteria such as the incidence of diseases and the degree which overcrowding of housing occupies. 
Good nature housing standards are essential and basic to planning. These, not only ensure the safety and wellbeing of people but also promote beauty, convenience and aesthetics in the overall built-up environment. Good nature housing means more than a roof over one’s head. It also means adequate privacy; adequate space, physical accessibility; adequate security, security of tenure, structural stability and durability; adequate lighting, heating and ventilation; adequate basic infrastructure, such as water supply, sanitation and waste-management facilities; suitable environmental nature and health-related factors; and adequate and accessible location with regard to work. All of these should be available at an affordable cost and should be determined together with the people concerned (Payne, 1977; Lewin, 1981; Olotuah, 2006; UN – HABITAT, 2006).  However, poor housing has repercussions across a whole range of other aspects of life, such as employment, as housing not only fulfils the basic human physical need for shelter but also satisfies social requirements. A house provides a centre for an individual and the basis for family life, emerging as an important symbol of social standing and aspirations. Thus, the fulfillment of housing nature needs is a complex process. A good housing, therefore, must possess a general layout of good appearance, and comply with the general customs and habits of the people without which it may turn into a slum (Adeniyi, 1972; Lucas, 1990; Azubuike and Nkanginiemu, 1999; Sholamith, 2000; UNICEF, 2001).Through the development of appropriate financial instruments, the ultimate aim is to encourage and enhanced the level of resources mobilization to support a creditable housing delivery system to serve all Nigeria. Given the increasing population grow organization and the concomitant demand for housing services as well as the limited resources available for response copies with demand for response copies with demand for housing, present complicated challenges with many dimensions. Its dimensions are not only financial and administrative but also technical economic and political. The financial dimension relates to the limited resources available. The share sensitiveness of housing as in issue of common concern presents administrative and political implications the technical feasibility of providing affordable finance to the low income group at current level of cost demand, struck economic management. It is challenge to which the mortgage finance system must respond for the socio-economic growth of the country.
The Federal mortgage bank of Nigeria (FMBN) is designated in decree 53 of 1989 as the apex mortgage institution. This role primarily delivered from decree 7 of 1977 by which the FMBN from decree of 1977 by which the FMBN was established and mandated to inter-alia, promote establishment and supervision of the activities of the primary mortgage institution (PMS).
MORTGAGE LOANS
The housing hand bank 1991, defined mortgage as “an instrument recognized by law, by which properly is given up as security, without the necessary of giving up possession of it fir the payment of a debt or obligation. When a mortgage is created, you had creates a loan that is used to finance the purchase construction, completion or improvement of a house: the house is in turn held as security for the loan. Mortgage loan genially are a specialized form of customer and commercial lending. They are mainly always secured by real estate and the majorities are no long term basis that is the loan are secured by mortgage over land or landed properly. The true purpose of a mortgage loan is finance the acquisition or substantial improvement of real property. However, real estate can also be pledge to secure obligation. In curried for other purpose in such cases the real purpose rather than the form of collateral such as certificate of occupancy (c/o) should determine the term of payment gives and also dictate companies and building social. When the property is changed to o mortgage the interest in the property to which possession of the property remain with mortgage (the borrower).
The mortgage has the right to use the property mortgage and to receive rent if it is land or building. But he will allowed disposing the property as the interest in the property is vasted in the mortgage. The residential mortgage are generally considered more desirable and popular because or dwellers. Construction mortgage are short term loans that may lead to long term commitment. While the commercial mortgages are often loans in disguise in which case they are treated as such furthermore there are legal as well as equitable mortgage. The legal mortgage convey by  deed the legal estate in the property to mortgage the subject to the mortgages redemption right in the legal mortgage borrower is allowed to repay the loan with interest over long period of years monthly on quarterly basis by regular installment. The F.M.B.N. operates the legal mortgage while other mortgage institution (PMS) operates equitable mortgages.
FUNCTION OF MORTGAGE INSTITUTIONS
The primary function of the mortgage institution is centered on housing financing. Housing financing in Nigeria has a two tier arrangement, with the federal montage bank of Nigeria (FMBN) as the apex montage institution on one hand and the multiplication of primary mortgage institution (PMIS0 on the other hand. The FMBS and PMIS performs specific function as backed and required of them by the mortgage institution decree no. 53 of 1989, national housing fund decree no. 3 of 1992 and the federal mortgage bank of Nigeria decree no. 82 of 1999 according the FMSN perform the following function.
The provision of long – term credit facilities, to mortgage bank for onward sending to individual in the society at the rate and terms as might be determined by the broad in accordance with the federal government policies guiding institution. It encourages the development and promotion of mortgage institution at state and nation levels. The supervising and control of the activities of mortgage institutions in accordance with such directors as may be given from time to time by federal government of Nigeria. The provision with the approver of the minister at competition commercial rate of interest credit facilitates to commercial property development estate develops and other specialized types of building. Formation of guideline requirement and other condition for licensing mortgage institution. Determination of the statutory and mandatory level of deposit by the mortgage institution in federal mortgage bank more Nigeria.