Housing Development, Poverty Alleviation and Cooperative Societies: The Nexus

Housing is one of man’s basic essentials of life which ranked second to food. In spite of this, its development requires huge initial capital outlay, hence the ownership is steadily becoming elusive especially for those within the low- income cadre. Nigeria as one of the developing nations of the world is faced with the twin problems of poverty and housing provision. Housing financing and poverty alleviation has become problematic issues for successive government in Nigeria as the various poverty alleviation and housing financing options in the country has failed largely due to bureaucratic bottleneck and other corrupt practices. The paper therefore evaluates the efforts of the Federal Polytechnic Ede academic staff union cooperative society at alleviating poverty through housing development financing. To achieve this, the study explored both quantitative and qualitative research methodologies in order to empirically investigate the activities of the society and established the nexus between housing development, poverty alleviation and cooperative societies. Both primary and secondary data were collected and analyzed using descriptive statistical tool. Findings from the study revealed that 270 staff members have benefitted from the housing provision initiatives of the society with their properties at various stages of completions, while 24 members have also obtained their PhD and Master’s degree, 18 members got exotic cars through the dedicated education and car loan options. More so, the society provided soft and flexible loan facilities at low interest rates through which staff members have been empowered. The paper concluded by recommending the introduction and sustenance of co-operative societies in government institutions as a sure means for housing ownership and urban poverty alleviation in the country.