IMPACTS OF HOUSING COOPERATIVE SOCIETIES ON ECONOMIC GROWTH
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Abstract
This study was carried out on the impact of housing cooperative societies on economic growth. Housing cooperatives are a distinctive form of home ownership that have many characteristics that differ from other residential arrangements such as single family home ownership, condominiums and renting.This study employed survey research design. The target population of this study is all cooperative societies belonging to all institutions in AjeromiIfelodun Local Government, Lagos State. A total of samples of 349 were arrived adopting the above formula for each of the five cooperative societies. Housing is a major problem to most workers in Nigeria because the provision of fund to workers in order to own their homes through the government National Housing Fund (NHF) has not been achievable. The result of the findings showed that Cooperative Societies (CS) has significant effect in providing housing finance to workers of higher institutions in AjeromiIfelodun Local Government. The study recommended that National Housing Policy of Nigeria should be reviewed by incorperating cooperative societies into the policy for a combined effect.
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