SELF-HELP HOUSING FINANCING IN NIGERIA

A CASE STUDY OF CIVIL SERVANTS HOUSING PRODUCTION IN BENIN CITY

Abstract

This study examines the self-help housing financing strategies employed by civil servants in Benin City, Nigeria, addressing the challenges of housing affordability and socio-economic well-being among low-income earners. The backdrop of rapid urbanization and high construction costs necessitates innovative housing solutions, particularly for civil servants whose incomes often fall short of covering essential needs. Utilizing a survey of 352 respondents, the research explores the types of residences, construction durations, and primary sources of financing for homebuilding among civil servants. The findings indicate that while a significant portion of civil servants engage in self-help housing and incremental building methods, homeownership remains a challenge, with only 37.6% owning their residences. Key financing sources include personal savings, work cooperative societies, and, to a lesser extent, financial institutions and mortgage borrowing. The study underscores the importance of community-based savings groups and cooperative societies in facilitating housing finance, aligning with existing literature on self-help housing models in developing economies. Recommendations emphasize enhancing support for cooperative societies, encouraging community-based savings groups, and developing tailored financial products for low-income earners to improve housing accessibility and affordability in Benin City.