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Cooperative Societies, Housing Provision and Poverty Alleviation in Nigeria

Ayedun, C. A. and Oloyede, S. A. and Ikpefan, Ochei Ailemen and Akinjare, O. A. and Oloke, C. Olayinka (2017) Cooperative Societies, Housing Provision and Poverty Alleviation in Nigeria. Covenant Journal of Research in the Built Environment (CJRBE), 5 (1). pp. 69-81. ISSN ISSN (online): 2384-5716; ISSN (Print): 2384-5724

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Abstract

The study is based on the need to motivate individuals in similar wage earning employments to overcome challenges militating against accessibility to basic family needs including home ownership through incremental development. The study employed qualitative research method to carry out empirical investigation through interviews with members as well as some executive members of Covenant University Staff Cooperative and Multipurpose Society Limited, Ota, Ogun State, Nigeria to obtain primary data for the study as well as secondary data from earlier annual reports of the cooperative Society. Data presentation was through the use of tables and percentages. Findings showed that various avenues provided for accessing credit, at short notice, with very low interest rates and generous repayment periods by the Covenant University Staff Cooperative and Multi-purpose Society Limited, significantly assisted members in embarking on massive housing construction on incremental basis in addition to access to funds for other family needs with ease within the ten years of the Cooperative Societies’ establishment. The paper concludes that project funding through co-operative societies’ approach has great potentials for minimising frustrations inherent in the pursuit of achievements through loans from commercial banks at variable interest rates. The paper recommends the encouragement of Staff Co-operative Societies across all segments of establishments in the country

Item Type: Article
Uncontrolled Keywords: cooperative society, housing provision, poverty alleviation, Nigeria
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HD Industries. Land use. Labor
H Social Sciences > HD Industries. Land use. Labor > HD28 Management. Industrial Management
Divisions: Faculty of Engineering, Science and Mathematics > School of Civil Engineering and the Environment
Depositing User: Adedapo Oluwatayo
Date Deposited: 09 Sep 2017 21:30
Last Modified: 09 Sep 2017 21:30
URI: http://eprints.covenantuniversity.edu.ng/id/eprint/9269

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