Challenges of Financing in Housing Development in Nigeria
Introduction
The history of electricity development in Nigeria can be traced back to the end of the 19th century when the first generating power plant was installed in the city of Lagos in 1898. From then until 1950, the pattern of electricity development was in the form of individual electricity power undertaking scattered all over the towns. Some of the few undertaking were Federal Government bodies under the Public Works Department, some by the Native Authorities and others by the Municipal Authorities. ELECTRICITY CORPORATION OF NIGERIA (ECN). By 1950, in order to integrate electricity power development and make it effective, the then colonial Government passed the ECN ordinance No. 15 of 1950. With this ordinance in place, the electricity department and all those undertakings which were controlled came under one body.
The ECN and the Niger Dam Authority (NDA) were merged to become the National Electric Power Authority (NEPA) with effect from the 1st of April 1972. The actual merger did not take place until the 6th of January 1973 when the first General Manager was appointed. Despite the problems faced by NEPA, the Authority has played an effective role in the nation 's socio-economic development thereby steering Nigeria into a greater industrial society. The success story is a result of careful planning and hard work. The statutory function of the Authority is to develop and maintain an efficient co-ordinate and economical system of electricity supply throughout the Federation. The decree further states that the monopoly of all commercial electric supply shall be enjoyed by NEPA to the exclusion of all other organisations. This however, does not prevent privy individuals who wish to buy and run thermal plants for domestic use from doing so.
NEPA, from 1989, has since gained another status-that of quasi-commercialization. By this, NEPA has been granted partial autonomy and by implication, it is to feed itself. The total generating capacity of the six major
The history of electricity development in Nigeria can be traced back to the end of the 19th century when the first generating power plant was installed in the city of Lagos in 1898. From then until 1950, the pattern of electricity development was in the form of individual electricity power undertaking scattered all over the towns. Some of the few undertaking were Federal Government bodies under the Public Works Department, some by the Native Authorities and others by the Municipal Authorities. ELECTRICITY CORPORATION OF NIGERIA (ECN). By 1950, in order to integrate electricity power development and make it effective, the then colonial Government passed the ECN ordinance No. 15 of 1950. With this ordinance in place, the electricity department and all those undertakings which were controlled came under one body.
The ECN and the Niger Dam Authority (NDA) were merged to become the National Electric Power Authority (NEPA) with effect from the 1st of April 1972. The actual merger did not take place until the 6th of January 1973 when the first General Manager was appointed. Despite the problems faced by NEPA, the Authority has played an effective role in the nation 's socio-economic development thereby steering Nigeria into a greater industrial society. The success story is a result of careful planning and hard work. The statutory function of the Authority is to develop and maintain an efficient co-ordinate and economical system of electricity supply throughout the Federation. The decree further states that the monopoly of all commercial electric supply shall be enjoyed by NEPA to the exclusion of all other organisations. This however, does not prevent privy individuals who wish to buy and run thermal plants for domestic use from doing so.
NEPA, from 1989, has since gained another status-that of quasi-commercialization. By this, NEPA has been granted partial autonomy and by implication, it is to feed itself. The total generating capacity of the six major
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