Abstract
The aim of this article is to outline the important factor required towards effective Housing finance in Nigeria subject to the operations of the National Housing Fund Scheme. This is presented in a model in their hierarchical order of importance (Credit Policy, Banks’ Financial Structure and Land Accessibility). Data was obtained through questionnaire administration while a two-stage approach in partial least square-structural equation modelling (PLS-SEM) was adopted to examine the appropriateness of hierarchical modelling. The findings indicate that the conceptual properties of Credit policy, Financial Structure and Land Accessibility matches with reflective-formative type of second order hierarchical component of the models. The study offers a wholistic understanding of the systematic factors required to aid the Housing finance system in the country. It gives insight to the government on what to consider for proper implementation of Housing finance system in the country, while offering an alternative avenue to researchers intending to introduce hierarchical component in modelling Housing Finance system in other countries.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
References
Adeboye, A., Rod, G., Felix, H., Olomolaiye, P.: An overview of residential real estate financing in Nigeria. J. Real Estate Lit. 20(2), 263–288 (2014)
Agunbiade, M., Rajabifard, A., Bennett, R.: Modes of housing production in developing countries: the contemporary role of land, labour, and capital in Lagos, Nigeria. J. Housing Built Environ. 28(2), 363–379 (2013)
Amao, F.L., Odunjo, O.O.: Housing finance in Nigeria. J. Econ. Sustain. Dev. 5(27), 101–104 (2014)
Ankeli, I.A., Dabara, I.D., Omotehinshe, O.J., Adamu, M.K., Adaranijo, L.O.: Assessment of housing condition and its effect on occupiers’ health condition. In: The 12th International Conference on Advances in Science, Humanities and Education, 12th–13th September, pp. 57–64, September 2017
Aribigbola, A.: Study of urban housing choice in Akure, Ondo State, Nigeria. Unpublished Ph.D. thesis, Department of urban and Required Planning, Obafemi Awolowo University, Ile-ife (2005)
Aturamu, O., Wood, G.: Scaling up housing microfinance for incremental building a case study of microfinance banks in Nigeria. Paper Presented at the 13th International Postgraduate Research Conference 2017 (2017)
Aturamu, O., Wood, G.: Scaling up housing microfinance for incremental building: a case study of microfinance banks in Nigeria. Paper presented at the 13th International Postgraduate Research Conference 2017 (2017)
Clark, L.A., Watson, D.: Constructing validity: new developments in creating objective measuring instruments. Psychol. Assess. 31(12), 1412 (2019)
Ganiyu, O., Muzliu, B., Elumah, L.O.: Mortgage financing and housing development in Nigeria. Fountain Univ. Osogbo J. Manag. 2(1) (2018)
Hair, J.F., Hult, G.T., Ringle, C.M., Sarstedt, M.: A Primer on Partial Least Squares Structural Equation Modelling (PLS-SEM). SAGE Publication, Thousand Oaks (2014)
Hair, J.F., Ringle, C.M., Sarstedt, M.: The use of partial least square (PLS) to address marketing management topics. J. Mark. Theory Pract. 19(2), 135–138 (2011). SSRN. https://ssrn.com/abstract=2227601
Makinde, O.O.: Housing delivery system, need and demand. Environ. Dev. Sustain. 16(1), 49–69 (2014)
Nubi, T.G.: Beyond bricks and mortar: demystifying the affordable housing debacle in a transiting economy. University of Lagos (2015)
Nubi, T.O.: Housing finance in Nigeria: need for re-engineering. Ideal Habitat Cooperative (2000)
Oni-Jimoh, T., Liyanage, C., Oyebanji, A., Gerges, M.: Urbanization and meeting the need for affordable housing in Nigeria. Housing Amjad Almusaed Asaad Almssad IntechOpen 7, 73–91 (2018)
Paschke, S.R., Thiele, J.U., Repke, H.: Analyze Heterogener. Chemie Ingenieeur Technik 81, 297 (2009)
Pawson, H., Milligan, V., Yates, J.: Financing and Governing Affordable Rental Housing Housing Policy in Australia, pp. 259–298. Springer, Cham (2020)
Richardson, J.: Place and Identity: The Performance of Home. Routledge, Milton Park (2018)
Samani, S.A.: Steps in research process (partial least square of structural equation modeling (2016)
Siyan, P., Adegoriola, A.E., Erivwode, O.M.: The development of mortgage finance in Nigeria and its impact on the economy. Development 4(3) (2019)
Warnock, V.C., Warnock, F.E.: Markets and housing finance. J. Hous. Econ. 17(3), 239–251 (2008)
Wetzels, M., Odekerken-Schröder, G., Van Oppen, C.: Using PLS path modeling for assessing hierarchical construct models: guidelines and empirical illustration. MIS Q. 177–195 (2009)
Wong, K.K.K.: Partial least squares structural equation modeling (PLS-SEM) techniques using SmartPLS. Mark. Bull. 24(1), 1–32 (2013)
Renaud, B.: Housing and financial institutions in developing countries. International Union of Building Societies and Savings Associations, Chicago (1984)
Agnello, L., Castro, V., Sousa, R.M.: The housing cycle: what role for mort gage market development and housing finance? J. Real Estate Finance Econ. 1–64 (2019)
Author information
Authors and Affiliations
Editor information
Editors and Affiliations
Rights and permissions
Copyright information
© 2021 The Author(s), under exclusive license to Springer Nature Switzerland AG
About this paper
Cite this paper
Adediran, A.O., Ali, H.M. (2021). A Hierarchical Hidden Variable Model of Effective Housing Finance in Nigeria Through SEM Smart-PLS. In: Abraham, A., Hanne, T., Castillo, O., Gandhi, N., Nogueira Rios, T., Hong, TP. (eds) Hybrid Intelligent Systems. HIS 2020. Advances in Intelligent Systems and Computing, vol 1375. Springer, Cham. https://doi.org/10.1007/978-3-030-73050-5_75
Download citation
DOI: https://doi.org/10.1007/978-3-030-73050-5_75
Published:
Publisher Name: Springer, Cham
Print ISBN: 978-3-030-73049-9
Online ISBN: 978-3-030-73050-5
eBook Packages: Intelligent Technologies and RoboticsIntelligent Technologies and Robotics (R0)