Examination of Strategies and Monetary Expenditure of Public Universities-based Cooperative Societies in Housing Provision in Southwest Nigeria.

Abstract

Housing problem remained a challenge to public servants as the Nigerian government made no successful housing plan to its workforce to date. This paper examined the contributions of public universities-based cooperative societies to the housing need of universities' staff in Southwest Nigeria. Data were collected from 463 members and 6 officials across 6 purposively selected federal universities-based cooperative societies in the study area. Data were obtained on housing intervention/strategies and monetary expenditure of the cooperative societies for a 10years period between 2010-2019. Appropriate descriptive and inferential statistics were employed in analyzing the data collected. The study revealed that, through various housing strategies used by the 6 cooperative societies, a monetary value of N66.069million had been expended on the university staff's housing needs within the study period. It further indicated that the nominal aggregate value of N66.069million provided by the cooperative societies is grossly insufficient to meet the aspirations and housing needs of the cooperative members. The study concluded that while the cooperative societies have contributed their quota in alleviating their members' housing needs, they were yet to provide viable solutions to the housing problems affecting most of the members in the cooperatives. Hence, there is a need for further mobilization of financial resources to sustain such cooperative societies. Finally, as a recommendation, there is a need for the government at all levels to strengthen the capacity and growth of cooperative societies in Nigeria by making housing provision core mandates of cooperatives toward assisting Nigeria university staff in actualizing homeownership and Nigerian at large.