Empirical Assessment of Success Rate of Co-operative Societies’ Housing Provision in Lagos State, Nigeria
2017
Oloke, C. Olayinka | Oni, Abiodun S. | Oletubo, A. A. | Opoko, Pearl Akunnaya | Ogunde, Ayodeji
This study empirically assessed the success of co-operative societies’ housing provision for their members in Lagos State, Nigeria. The study was based on questionnaire survey conducted on institution-based co-operative societies that engage in housing procurement for members using different methods such as land acquisition, housing development, grant of loan, purchase of building materials or purchase of complete housing. Data were collected from members and principal officers of 97 institution-based co-operative societies in Ikeja, Lagos State. Data were analyzed with basic descriptive statistical tools, 5-Point Likert scale and presented with tables and percentages. The overall success rate was found by finding the average of the success rate of each method. This is compared with the impression of the stakeholders with the achievement of co-operative societies in providing housing for their members over the years. It was found contrary to popular believe that co-operative societies had performed well, the success rate had not been impressive and this is evidenced by the aggregate 38.3% of success rate of the different approaches put together. The analysis also showed that grant of loan and private project development were considered to be more successful amongst other strategies adopted by the co-operative societies. The study therefore concluded that the overall success of co-operative societies in housing provision can be improved by evolving a collaborative model that synergize co-operative institution with government institutions, parent institutions and the financial institutions.
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