Browsing by Author "BELLO, Nurudeen Akinsola"
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Item ASSESSMENT OF MORTGAGE FINANCE EFFECTIVENESS TO REAL ESTATE DEVELOPMENT IN LAGOS METROPOLIS, NIGERIA(Faculty of Environmental Sciences, University of Ilorin, Nigeria, 2015-09) AKINBOLA, Kazeem Bolayemi; BELLO, Nurudeen AkinsolaMortgage finance constitutes one of the major pillars of the housing delivery system. Indeed, without a well-organized and efficient housing finance mechanism, the goal of a housing development policy will be largely unattainable. While efforts have been made in the literature to discuss the housing and the importance of housing and its finance as a vital component of the national economy, less focus was on the assessment of the current mortgage finance in term of its effectiveness. The focus of this study is therefore to assess the effectiveness of mortgage financing vibrancy, vitality as well as its operational strength on the housing finance system in the Metropolitan Lagos. Hence, it is against this background that well-structured questionnaires were administered on officials and customers of some Primary Mortgage Institutions and regulators of mortgage financial sector within the metropolitan Lagos. Personal interviews were also conducted on some mortgage loan applicants, whose applications are yet to be approved. Out of 160 questionnaires that were distributed, 115 (representing 72% response rate) were retrieved, which formed the basis of analysis for this study. Likert scale measurement as well as descriptive and inferential statistical tools was adopted. The results showed amongst other things that Nigeria's mortgage system is underdeveloped and ill-equipped to mobilise and channel saving to housing sector, as major sources of housing finance in Nigeria is still majorly generated through alternative means of housing financing, this is because mortgage institutions are bedevilled with shortage of loan-able funds due to low contribution to the fund. Only 11.2% of applications for a mortgage loan were approved. Amongst other suggestions made for an improved and effective mortgage system is the review of enabling laws and overhauling of mechanisms for continuous flow of funds to be guaranteed, as well as momentous restructuring of the mortgage finance system to sufficiently tackle the enormity of finance shortage being experienced in Nigeria’s housing sector, especially in the urban milieu.Item CHANGE OF PROFESSIONALS' WORKPLACE IN NIGERIAN ESTATE SURVEYING PRACTICE(Department of Industrial Relation and Personnel Management, Faculty of Management Sciences, University of Ilorin, Ilorin, Nigeria, 2017-11-23) BELLO, Nurudeen Akinsola; AGBATO, Samson Efuwape; AGAVA, YUSUF HALIMThe workplace movement, staff attrition and retention of professionals are a worldwide happening which affects both developing and developed countries differently. Focus of most literatures on workplace movement of professionals was however on brain drain (country to country movement) with less emphasis on rate of movement of professionals within the same country over a period of time. In a bid to practise the profession, the Estate-Surveying-Professionals (ESPs) may result to changes of workplace due to a given factor and on interval basis end up moving from one firm to another or to other industries and establishment at differing rates and patterns. This study therefore seeks to explore and identify factors that lead to change of workplace among ESPs in Nigeria. An in-depth survey interview was conducted on the 152 affected Estate Surveying Professionals in Nigeria based on the differences between the 7th and 8th (most current) editions of the directory of members and registered firms of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) through telephony. The findings indicated that the type of change of workplace is mostly an internal movement among Estate-Surveying-Firms(ESFs) and that most of the geographical change of workplace are within the same urban area characterized by desire to operate self/jointly established Estate Surveying Firm. The change of workplace among ESPs is still mostly intra profession type (brain exchange) and not inter profession one (brain drain). Although, the work concluded that the change of workplace does not constitute a threat of extinction to the profession of Estate Surveying in Nigeria, it is recommended that NIESV should constantly study the rate and pattern of change of workplace amongst its members for effective monitoring towards sustainable estate surveying practice in Nigeria. Furthermore, as a complement to this work, NIESV should endeavour to ascertain the exit type of 333 members listed in its 7th edition, but missing in its 8th edition as a further monitoring of change of workplace among its members. Finally, as already did by other professionals, NIESV should make available the updated list of its registered members for capturing by the National Bureau of Statistics of Nigeria, as part of vital national statistics of the country.Item CHANGE OF PROFESSIONALS' WORKPLACE IN NIGERIAN ESTATE SURVEYING PRACTICE(Department of Industrial Relations and Personnel Management, 2017-08) BELLO, Nurudeen Akinsola; AGBATO, Samson Efuwape; AGAVA, Yusuf HalimThe workplace movement, staff attrition and retention of professionals are a worldwide happening which affects both developing and developed countries differently. Focus of most literatures on workplace movement of professionals was however on brain drain (country to country movement) with less emphasis on rate of movement of professionals within the same country over a period of time. In a bid to practise the profession, the Estate-Surveying-Professionals (ESPs) may result to changes of workplace due to a given factor and on interval basis end up moving from one firm to another or to other industries and establishment at differing rates and patterns. This study therefore seeks to explore and identify factors that lead to change of workplace among ESPs in Nigeria. An in-depth survey interview was conducted on the 152 affected Estate Surveying Professionals in Nigeria based on the differences between the 7th and 8th (most current) editions of the directory of members and registered firms of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) through telephony. The findings indicated that the type of change of workplace is mostly an internal movement among Estate-Surveying-Firms(ESFs) and that most of the geographical change of workplace are within the same urban area characterized by desire to operate self/jointly established Estate Surveying Firm. The change of workplace among ESPs is still mostly intra profession type (brain exchange) and not inter profession one (brain drain). Although, the work concluded that the change of workplace does not constitute a threat of extinction to the profession of Estate Surveying in Nigeria, it is recommended that NIESV should constantly study the rate and pattern of change of workplace amongst its members for effective monitoring towards sustainable estate surveying practice in Nigeria. Furthermore, as a complement to this work, NIESV should endeavour to ascertain the exit type of 333 members listed in its 7th edition, but missing in its 8th edition as a further monitoring of change of workplace among its members. Finally, as already did by other professionals, NIESV should make available the updated list of its registered members for capturing by the National Bureau of Statistics of Nigeria, as part of vital national statistics of the country.Item IMPACT ASSESSMENT OF LAND USE DECREE ON RURAL LAND – A CASE STUDY OF OGUN STATE.(The Nigerian Institution of Estate Surveyors and Valuers (NIESV), 2005-06) BELLO, Nurudeen AkinsolaThe land use decree number 6 of March 29 1978 was aimed at solving the diversified land policies in Nigeria and ensuring easy accessibility of all Nigerians to land. The decree however classified land to rural and urban and made separate provisions for the management and administration of each. It is a known fact that good rural land tenure is one of the catalysts for rural development and it also stimulates food self-sufficiency and serves as an impetus for economic development of a nation. Ogun State is one of the 36 States of Nigeria, a State with abundant rural land. Having a total land area of 16,409.26km2, out of which only 1,003.7km2 (spread through 7 townships) was designated as urban land, indicating that the rest 15,405.56km2 is rural land. Considering the case of Ogun State, has the decree had the expected impact on the rural land and has the provisions of the decree been kept to 26 years after its commencement? What is the attitude of estate surveyors to rural land and what remedial measures can be taken to redress the imperfections of the decree on rural land? These burning questions therefore called for this study.Item Is Standard desired in Feasibility and Viability Study? A Pursuit for Nigerian Estate Surveyors and Valuers.(The Nigerian Institution of Estate Surveyors and Valuers, 2017-12) BELLO, Nurudeen Akinsola; OGUNBA, Olusegun Adebayo; OGEDENGBE, Peter ShakedeGlobally, the drive for standards and harmonization which are commonly accepted and applicable in professional practices has been the watchword for transparency, consistency, rationality, comparability and uniform performance measures. The word standard in its technical connotation entail quality control principles put forward by professional regulatory bodies on how best to undertake professional work to a global acceptable level and its adherence distinguishes professional from non-professional in field of practice. In Nigeria, Nigerian Institution of Estate Surveyors and Valuers (NIESV) the professional body saddled with responsibility of estate surveying and valuation practice has standards and guidance notes published in 2006 on valuation, but there was no any noted standard structure set for members for preparation of the feasibility and viability study. This paper therefore attempts to establish the need for setting minimum standards for the conduct of ‘feasibility and viability studies’ to pave way for best practice that will allow consistency in evaluation approach across a wide range of investment appraisal in Nigeria. Questionnaires were served on head of practice of 203 Estate surveying firms, among the 324 registered estate surveying firms in Lagos (from a total of 775 of such in Nigeria). 93 questionnaires were successfully eventually administered representing 45.81% retrieval/response rate. Data gathered were analyzed using descriptive statistics, relative importance index and severity index. The findings indicated that there is a significant difference and no correlation in feasibility reports prepared from one firm to another and that standardization will ensure acceptability, reliability and build confidence in clients patronizing estate surveyors in feasibility and viability assignment, portray NIESV and her members as an organized professional body/members by way of uniform presentation of job format. In conclusion, the paper recommended the combination of estate surveyors in academics, estate surveyors in practice, professional body (NIESV) and regulatory body (ESVARBON) as standard setters for feasibility and viability study, while NIESV should ensure awareness creation and compliance by members.Item Rural transformation as a key to Sustainable Development in Nigeria(Faculty of Environmental Sciences, University of Ilorin, 2015-09) BELLO, Nurudeen Akinsola; BAKO, Abdulateef Iyanda; AKINBOLA, Kazeem BolayemiRural Development has been a front-burner issue in Nigeria simply because the majority of Nigerian people is rural dwellers. The importance of rural areas and its people cannot therefore be overlooked in a bid to have sustainable development, due to the fact that it is bedrock of the nation’s development. The development of rural areas as the bedrock of rural transformation has long been neglected in Nigeria with the ascendancy of crude oil as the mainstay of the nation’s economy. Despite the pivotal role of rural areas in production, the productivity of the rural masses is still low because of lack of effective transformation which, if properly done will obviously stimulates rural development, encourages rural industrialization and checks rural-urban migration and promotes the national economy. It is believed that despite the potentials attached to the rural areas and rural dwellers, emphasis and major focus of people and government are in the urban areas. But the major emphasis supposed to be placed in rural areas and how it is to be transformed by allocation of resources between physical, economic and social services. If rural areas are developed through proper transformation, it can develop the rural areas where most nations’ resources are tapped as well as promote the economy of Nigeria. This review work suggested that all hands must be on deck to ensure that Nigerian rural communities are effectively transformed.Item Sequential housing development: a viable strategy for low income housing delivery in Nigeria(The Nigerian Institute of Architects, 2010-05) JOLAOSO, Babatunde Adekoyejo; BELLO, Nurudeen Akinsola; JOLAOSO, I. AdegbengaSequential housing development is an informal programme adopted by the low-income households, whereby housing unit is completed by housing sub unit’s construction method in time phase, through individual efforts to complete housing unit. Housing delivery is a collection of production, regulatory and administrative devices by which housing services are provided to the consumer. This has either been taken up by the government that is unable to cope with it at the macro-level or has been left to the individuals themselves at the micro-level. The consequence as response to the failed government housing policies and programmes has been the emerging development of dwelling units in a shelter-like manner through self-help efforts. It is against this backdrop that the paper appraised sequential housing development for low-income housing delivery, using the development scenario at Akobo Ojurin area of Ibadan as a case study. Data collection is from primary sources, informal interview and field observation, through the use of questionnaire survey conducted by stratified sampling technique within a selected sample frame of 41 houses in the study area. Data collected were analysed using descriptive and inferential statistical methods. The paper makes some recommendations towards achieving success and concludes that sequential housing development is a viable strategy for low-income housing delivery in Nigeria; this needs encouragements through symbiotic relationship among the Government, non-government organisations and relevant professionals.Item VALUATION LITIGATION: THE ROLE OF ESTATE SURVEYOR AND VALUER AS EXPERT WITNESS(Department of Estate Management, Federal University of Technology, Akure, 2005-08) BELLO, Nurudeen Akinsola; AGBATO, Samson EfuwapeEstate Surveyors and Valuers as the core professional in property valuation are required to give expert opinion of value in any property valuation litigation. But, many of them seem not to understand their role in this regard. The aim of this paper therefore is to enlighten and educate Estate surveyors and Valuers of the role expected of them before and during litigation bordering on property valuation. In this regard, actions and responses expected of Estate Surveyors and Valuers at every stage of the trial proceedings in valuation litigation were highlighted. It is the ultimate wish of these authors that this work would contribute to the knowledge of and give good orientation to Estate Surveyors and Valuers in matter relating to valuation litigation.