CLIMATE FINANCE MOBILIZATION AND SUSTAINABLE HOUSING DEVELOPMENT IN NIGERIA: EVIDENCE FROM HOUSING SECTOR STAKEHOLDERS
CLIMATE FINANCE MOBILIZATION AND SUSTAINABLE HOUSING DEVELOPMENT IN NIGERIA: EVIDENCE FROM HOUSING SECTOR STAKEHOLDERS
Elizabeth Ashadi Ogonegbu - Finance Department, School of Business and Economics, Daystar University, Kenya
ABSTRACT
While climate finance is increasingly acknowledged as a key enabler for sustainable housing development, empirical evidence on the impact of climate finance on housing outcomes is still limited in developing countries. This study examined the effect of climate finance mobilization on sustainable housing development in Nigeria. It was based on Financial Intermediation Theory, and had a positivist philosophy and an explanatory cross-sectional design. The target population comprised 711 institutions involved in climate finance and sustainable housing development. The number of respondents targeted was 399, obtained by applying Yamane's formula, and 260 valid responses were obtained by stratified non-probability sampling using purposive sampling. The data were gathered by a structured questionnaire with a 5-point Likert scale and analyzed with PLS-SEM in SmartPLS 4. The results indicated that the mobilization of climate finance had a positive and statistically significant impact on sustainable housing development (β = 0.177, t = 3.985, p < .001), and a small substantive effect (f² = 0.048). The study finds that enhanced mobilization of climate finance through diversified funding sources, innovative financing instruments, and enhanced geographic distribution can support sustainable housing development in Nigeria.
