ANALYSIS OF HOUSING BUDGET IMPLEMENTATION AND DEVELOPMENT MILESTONES IN ANAMBRA STATE, NIGERIA

Abstract

Implementing a housing budget is critical to housing delivery because it is the financial instrument with which the government executes the housing infrastructure needs of the society. In spite of rapid urbanization and the crucial role housing plays in economic development and improving the living standards of the citizens, Anambra State’s public sector still grapples with poor implementation of its annual housing budget which reflects in the extent of housing development. The study was therefore aimed at analyzing the rate of housing budget implementation and development milestones of housing estate schemes in Anambra State. Budget data from 1999 – 2016 and housing development data was obtained via oral interviews and physical observations from the Ministries of Budget and Economic Planning, Housing and the Housing Development Corporation and analysis was carried out simple percentages, frequencies, Pearson correlation with the aid of MS-Excel and E-views 7 econometric. Results revealed that the housing budget of Anambra State is grossly under- implemented at a rate of 26.6%, implying that it is a non-priority sector of the Anambra State government. Furthermore, results from analysis of development milestones showed that the progress of housing estate schemes was marred mainly by non-release and delays in release and misuse of funds for projects and unethical practices, thereby recording generally low success rates of development of an average of 40%. For substantial implementation of the housing budget to be achieved, the study recommends budget discipline, early authorization, release and monitoring of housing funds, regular project monitoring, community based supervision and prompt payment to contractors.

KEYWORDS: Anambra State, Budget Implementation, Housing Budget, Housing Development, Nigeria,