The Role of Private Partnership in Housing Finance, Delivery and Maintenance in Nigeria

1.0 Introduction
1.1 Background To The Study
The housing sector plays a more critical role in a nation's welfare than is always recognized, as it directly affects not only the citizenry, but also the performance of other sectors of the economy. Adequate housing provision has since the early 1970s consequently engaged the attention of most countries, especially the developing nations for a number of reasons. First, it is one of the three most important basic needs of mankind- the others being food and clothing. Secondly, housing is a very important durable consumer item, which impacts positively on productivity, as decent housing significantly increases worker's health and wellbeing, and consequently growth. Thirdly, it is one of the indices for measuring the standard of living of people across societies (Sanusi, 2003).
Propelled by the patriotic quest of addressing Nigeria's acute housing problem, the Federal Government came up with a National Policy on Housing and Urban Development in 2002. The policy has since then triggered milestone reforms in the nation's housing industry aimed at repositioning it for efficient and effective housing delivery and maintenance. One of the means through which the policy is been achieved is on public-private partnership concept. The thrust of the policy is to raise the home ownership rate among Nigerians to a respectable level by moving the housing industry to sustainably deliver mass, decent and affordable housing with the active participation of the private sector-driven mortgage based housing delivery and maintenance system (Oduwaye, 2004). The policy believes that this will particularly address the housing problem of most Nigerian citizens.
The concept of private partnership in housing financing, delivery and maintenance system is predicated on the pooling together of resources from the various stakeholders, each party making inputs, thereby minimizing wastage and maximizing results achieved. Ikekpeazu (2004) stressed that the expediency of the increased adoption of the public-private partnership for housing financing and delivery in the present socio-economic circumstances of shortage of housing in Nigeria is now even more glaring than ever. With the increasing demand of the population on the national economy and the government's propensity for enlarging the multi-sectorial allocations in terms of finance, it is becoming obvious that government alone can no longer provide adequate housing for all categories of her citizens particularly the low income earners.
The organized private sector comprise of members of the real estate developers association of Nigeria and some commercial banks that have real estate departments. Average citizens including the low-income earners do not easily have access to housing finance because of their low wages. Nigeria is a country with high unequal income distribution, a situation that restricts the reach of the vast majority in the acquisitionof quality housing. This study examines the role of public-private partnership in housing finance, delivery and maintenance in Nigeria.
The public-private partnership for housing delivery under Nigeria's current housing policy (Abdulsalam, 2008) confers certain identifiable roles on both the public and the private sector. The roles of the private sector in housing financing, delivery and maintenance with particular reference to private partnership includes responsible for production of physical houses, responsible for primary mortgage lending, required to invest mortgage securities and responsible for the production and supply of building materials, particularly local content.

1.2 Statement Of The Problem
Housing finance constitutes one of the major pillars of housing delivery and maintenance system. Indeed, without a well-organized and efficient housing finance mechanism, the goal of a housing development and maintenance policy will be largely unattainable. Housing finance has been recognised as an important, almost indispensable factor in the housing delivery and maintenance system. This is because only the very few in any nation can afford to pay cash for a house or pay cash for a major renovation of the house. Most other people must have to finance their house building and maintenance through loans, personal savings, assistance from relatives or friends and gifts. Introduction of public-private partnership in housing delivery and maintenance is to enhance the productivity of the housing sector, increase housing affordability and improve access to basic infrastructure and social services. Ikekpeazu (2004) stressed that in order to attain the desired outcome for private partnership, the perception of the housing sector as a vast arena of social problems and a drain on the economy must change. Housing must be seen as an important economic sector with crucial linkages to the overall economy of a nation. The housing sector is a key component of the economy. It is typically the largest single form of fixed capital investment, in most economics. Based on these facts, the researcher seeks to examine the role of private partnership in house finance, delivery and maintenance in Nigeria.

1.3 Objectives Of The Study
The following are the objectives of this study:

1. To examine the role of private partnership in house finance, delivery and maintenance in Nigeria.
2. To ascertain the level of investment in housing delivery and maintenance in Nigeria.
3. To identify the problems of housing finance, delivery and maintenance in Nigeria.

1.4 Research Questions

1. What is the role of private partnership in house finance, delivery and maintenance in Nigeria?
2. What is the level of investment in housing delivery and maintenance in Nigeria?
3. What are the problems of housing finance, delivery and maintenance in Nigeria?

1.5 Hypothesis

• HO: Private partnership has not contributed to housing finance, delivery and maintenance in Nigeria.
• HA: Private partnership has contributed to housing finance, delivery and maintenance in Nigeria.

1.6 Significance Of The Study
The following are the significance of this study:

1. The results of this study will educate the general public on the role of public private partnership and how it can be used as the instrument of development in housing finance, delivery and maintenance.
2. The findings will sensitize the stakeholders in building construction and real estate management on the need for effective collaboration with the private sector to ensure speedy financing and delivery of housing units all over the country noting that private partnership has facilitated development in housing delivery and maintenance in other advanced countries of the world.
3. This research will also serve as a resource base to other scholars and researchers interested in carrying out further research in this field subsequently, if applied will go to an extent to provide new explanation to the topic.

1.7 Scope Of The Study
This study on The Role of Private Partnership in Housing Finance, Delivery and Maintenance in Nigeria will cover the involvement of private sector in the provision and maintenance of housing units with focus on the existing housing structure and management in Nigeria.

1.8 Limitation Of Study
1. Financial constraint
Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
2. Time constraint
The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.