Factor Analysis of Housing Affordability among Civil Servants in Nigeria

Purpose - Housing affordability is a major challenge especially to low-income groups because of the need for other basic non-housing goods. This study is aimed at examining the determining factors of housing affordability in the households of low-income civil servants in selected parts of Nigeria. Design/methodology/approach - Using multi-stage sampling technique, Lagos, Oyo, and Ekiti States were selected in Southwestern Nigeria. Questionnaire administration was undertaken among low-income civil servants on grade levels 1 to 6 drawn from the offices of government ministries in the three selected states. Data analysis of information derived from retrieved copies of the questionnaire was undertaken using Mean Rating and Exploratory Factor Analysis. Findings - Findings indicate that available income and housing infrastructure; cultural background; and sources of construction materials constitute the key factors to housing affordability among low-income civil servants in Southwestern Nigeria. Research limitations - This study is primarily centered on low-income civil servants in Southwestern Nigeria. Undertaking the study in other geopolitical zones of Nigeria as well as other developing countries would probably yield other areas for further research and policy implications. Theoretical/Social/Practical implications - The study posits that, encouraging the adoption of indigenous building materials; tax reliefs; and increase in minimum wage will likely improve the present state of housing affordability among the studied low- income civil servants. Originality/value - The study tends to be a significant contribution to housing studies among low-income civil servants. The findings of this study may be adapted for policy decision-making in other emergent economies like Nigeria

Ethical Delimitation of Client Satisfaction, Client Sophistication and Client Influence in Property Valuation Practice in Nigeria

There are three major concepts that exist to determine and explain the decision-making behaviours of professionals while executing client assignments; viz: Client Satisfaction (CS), Client Sophistication (CSpth) and Client Influence (CI). There is paucity of articles that have attempted to examine the three concepts together; to give a clear distinction, and to report the critical implications on ethics of property valuation for financial reporting and other purposes. Hence, as a contribution to positioning property valuation as an anti-corruption tool, this study attempts to present the differential characteristics of the three concepts so as to further guide Estate Surveyors and Valuers in Nigeria on ethical standards in professional practice. Thirty (30) previous studies were systematically selected from database-search of best-ranked international journals found on the Real Estate Journal List that was recently determined and published by the American Real Estate Society. This was done to give credence to the conceptualisation and discussions in this paper. Moreover, this paper adopts the qualitative, analytical procedure of content analysis in the review of 30 extant studies based on the three concepts under study. Findings of this study show that issues of client satisfaction border around valuation accuracy, rationality, consistency, reliability as well as professional's unethical conducts. Client sophistication relates to their having some technical skills, expertise, as well as the influence of readily available knowledge through the internet and computational benefits of advanced valuation models. Client influence may also be reflected in valuation briefs; fee payment arrangements; valuation report/figures; valuation process; and the nature of valuation information made available to the valuer. The current study gives a clearer elucidation of the differences and implications of the concepts of CS, CSpth and CI on client-valuer engagements in property valuation practice. The study concludes that, while working to obtain ‘client satisfaction’ during valuations, it is crucial that valuers are intentional in being focused - by ensuring strict personal adherence to ethical standards in order to prevent undue client influence that may result from client sophistication

Hazard Perception and Demand for Insurance among Selected Motorcyclists in Lagos, Nigeria

This study examines hazard perception effects on the demand for insurance withspecial focus on motorcycle riders in Lagos state. For this purpose, the researchershave been able to examine selected hazard perception determinants and theireffects on the insuring attitude and desire of motorcycle riders. An explanatoryresearch design was employed and a convenience sampling type of the nonprobabilitysampling technique was adopted. &nbsp;Data was gathered by interviewsconducted at motorcycle parks along the Lagos-Badagry expressway. &nbsp;The sampleconsisted of 126 respondents made up of commercial motorcycle riders within thesample areas. Data collected was analysed using multiple regression technique.The study was able to establish some level of contributory linkage between hazardperception and demand for motorcycle insurance. The findings show that whiledread and trust both appeared to have significant effect, publicity and controllabilityboth have positive contributory effect; furthermore, choice expressed an inverserelationship with demand for insurance among the motorcycle riders. The studytherefore recommends pre-loss and post-loss measures among the motorcycleriders so that unforeseen motorcycle risks can be managed. Also, insurancecompanies should endeavour to invest more on enlightening the motorcycle&nbsp;riders in order to lessen their dread of loss outcome, and thus, design policy that&nbsp;can instil trust in motorcycle riders in insurance as a loss control measure.</div

Hazard Perception and Demand for Insurance among Selected Motorcyclists in Lagos, Nigeria

This study examines hazard perception effects on the demand for insurance withspecial focus on motorcycle riders in Lagos state. For this purpose, the researchershave been able to examine selected hazard perception determinants and theireffects on the insuring attitude and desire of motorcycle riders. An explanatoryresearch design was employed and a convenience sampling type of the nonprobabilitysampling technique was adopted. &nbsp;Data was gathered by interviewsconducted at motorcycle parks along the Lagos-Badagry expressway. &nbsp;The sampleconsisted of 126 respondents made up of commercial motorcycle riders within thesample areas. Data collected was analysed using multiple regression technique.The study was able to establish some level of contributory linkage between hazardperception and demand for motorcycle insurance. The findings show that whiledread and trust both appeared to have significant effect, publicity and controllabilityboth have positive contributory effect; furthermore, choice expressed an inverserelationship with demand for insurance among the motorcycle riders. The studytherefore recommends pre-loss and post-loss measures among the motorcycleriders so that unforeseen motorcycle risks can be managed. Also, insurancecompanies should endeavour to invest more on enlightening the motorcycle&nbsp;riders in order to lessen their dread of loss outcome, and thus, design policy that&nbsp;can instil trust in motorcycle riders in insurance as a loss control measure