Empirical Determination of Co-operative Housing Intervention Methods in Lagos Metropolis

Abstract

As a result of the diverse challenges that the masses faced in the procurement of housing from the public and private sector housing market, many people had turned to seek assistance through the organized informal sector, especially the co-operative society. This study explored Co-operative Societies intervention in housing provision with the ultimate aim of establishing empirically the different methods of meeting housing needs of their members in Lagos State. Ikeja Area office, having the highest number of institution based Co-operative Societies in Lagos Metropolis was purposely selected for the study. Thus structured questionnaires were administered to two groups of respondents, the principal officers of the selected 54 institution based co-operative societies together with their 315 members. Secondary data were also collected through the review of relevant publications and records of some of these societies. Primary data analysis was carried out with tables, percentages and relative importance index while independent sample t-test was used to find if there is any statistical significance between the opinion of the principal officers and members on the success rates of the methods of housing provision engaged by the co-operative societies. The study found that amongst others that both categories of respondents have similar opinion on the method of housing provision commonly engaged with housing development loan (corporate scheme) ranking first, followed by land acquisition, documentation, layout and allocation, private housing project loan, then land acquisition, documentation, development and allocation with complete house purchase (universal) trailing behind. The study also revealed that most co-operative societies generate their funds and hardly receive financial assistance from external sources. The study concluded by suggesting a model that would incorporate external assistance from government, non-government and parent institutions and as well synchronize the various methods to make deliver a wholesome housing acquisition process for members of institution based cooperative societies.