Effect of Housing Finance and Urbanization on Sustainable Housing Development in Nigeria

Abstract

This study investigates the relationship between housing finance and sustainable housing development in Nigeria using data from the Nigeria General Household Survey Panel 2018- 2019. The study adopted the Geographically Weighted Regression (GWR) methodology and the panel fixed effect model to study housing finance, and sustainable housing development in a bid to explore their implications for urbanization in Nigeria. Geographically weighted regression (GWR) is an exploratory technique mainly intended to indicate where nonstationarity is taking place on the map, that is, where locally weighted regression coefficients move away from their global values. Results suggest that housing finance has a positive and significant effect on sustainable housing availability in Nigeria. Results also suggest that housing development has positive significant impact on urbanization in Nigeria. The study concludes that housing finance is indispensable in the pursuit of decent urbanization and should be shored-up at all quarters in order to help control the housing deficits in Nigeria. The study recommends that governments at all levels and its agencies should strive harder to increase
public capital spending in a bid to providing more infrastructure and housing for the populace.