Appraisal of the Informal Sector and How It Flooded Residential Property Market in Nigeria
The vast bulk of households, especially those in an informal settlement, live in jammed conditions, surrounded by substandard houses, sometimes located in areas prone to various hazards which do not offer satisfactory resistances against diseases. The home is the elementary requirement to a better health delivery system not the hospital (WHO, 1999). Basically, only 25% to 30% Nigerians, usually top government officials and prosperous or fortunate individuals enjoy a decent resident (Azzan et al 2005). Aim of this article will be accomplished through the following objectives: to examine the contemporary practices of the urban residential property market in Nigeria; to scrutinize activities of the informal sector in the urban residential property market in Nigeria; and to evaluate the nemesis of the activities of the informal sector in the urban residential property market in Nigeria. Appraisal of relevant texts established that informal housing have flooded or seem to outnumber the formal and or planned housing in the residential property markets in Nigeria (Chirisa, 2008; Gerber, 2007). Legitimacy of the informal housing seems to be no longer an issue. Regrettably, the terrible and dreadful environmental situations related to informal sector activities create a chief threat to the well-being of residents' lives. The faults of government planning controls, and the unsystematic housing developments coupled with the informal sector activities have generated chaotic and unsafe urban environments. Finally, residential units built informally collapses frequently, claim innocent lives and discard wealth (Chirisa, 2008; Gerber, 2007). Informal sector housing, particularly those for residential purposes cause real hazards for the urban people who don't have enough money for medicine.