The Role of Commercial Banks in Financing Building Projects in Nigeria.
COURSE: RESEARCH METHODOLOGY
COURSE CODE: EST 326
The Role of commercial banks in financing building project in Nigeria
Statement of the problem: Buildings in Nigeria should be as much as to accommodate the Nigerian population both the citizens and immigrants. The commercial banks in Nigeria should make money available for building projects through low interest loan and also the commercial banks in Nigeria should invest in building projects to boast the number of buildings in Nigeria considering the large land Max of Nigeria and her ever growing population.
Due to high interest loan given by commercial banks to building developers, corruption in the banking system, and some Central Bank policies imposed on commercial banks in Nigeria, building projects in Nigeria has faced great deficiencies considering the large land Max of Nigeria and her ever growing population. This deficit has made the cost of buildings materials, value of available buildings and or shelter to increase on a daily basis, subjecting a higher percentage of Nigeria citizens to residing or taking shelter in obsolete buildings while some don’t even have a place to call their home.
Commercial banks should give out low interest loan to project developers to encourage building projects in Nigeria so as to tackle the challenges of deficient housing in Nigeria. This is essential because it is expected that the Nigerian population will increase by about 25% within the next 10years and if this problem of housing deficiency is not well tackled by commercial banks, the Nigerian citizens may make the streets their home due to high cost of renting or purchasing a building due to high demand and available buildings may turn obsolete due to overcrowding in one building.
Aim of the study:
To Examine the role of commercial banks in financing building projects in Nigeria.
Objective of the study:
To determine the level o
Published: July 19, 2017
Uploaded by: Ezeribe Chigozie