ROLE OF CO-OPERATIVES SOCIETIES IN HOUSING DELIVERY
ABSTRACT
A profession is a vocation whose practice is founded upon an understanding of the theoretical structure of some departments of learning and upon the capabilities accompanying such as understanding. This understanding and these capabilities are applied to, vital practical affairs of man. The practices of the profession are modified by knowledge of a generalized nature and by the accumulated wisdom and experience of mankind, which serves to correct the vital needs of man considers its first ethical imperative to be altruistic service to the client K. F. Andrews.
The act of investing in Housing co-operative is only the first step towards the investment of capital. In order to achieve its objective the Housing co-operative enterprises must be successfully and profitably operated as a business.
Moreso, thee is a need to crate this inevitable awareness that Housing co-operative business should be managed effectively, profitability and professionally.
Therefore, this work seeks to identify what development is all about and attempts an evaluation of the level of involvement of professional Housing co-operatives in Enugu using Trans-Ekulu and Abakpa Housing Estate as a test case.
CHAPTER ONE
INTRODUCTION
Co-operative societies in Nigeria are believed to have started between the period of the first and second world wars and more especially in the (Beer 1976). The operation of co-operative societies was first regulated by the coming into being of the co-operative societies ordinance of 1935. But even before the above stated period, there were successful attempts by indigenous groups at the traditionally styled co-operative societies commonly known as “Isusu”. The success of co operative in Nigeria is such that, by 1965 there were about 5,5000 co-operative societies with a total of 358,000 members. To further assist in the smooth operation of co- operatives, specialized banks have long been established across the country to cater for their banking needs.
One school of thought said that a co-operative society is a group of people organized to provide housing to members of he group. The co-operative may cover financing of the project by group contribution actual participation. The government or any institution may provide finances and materials, while the individual member of the co-operative society will provide the labour.
FUNCTIONS OF HOUSING CO-OPERATIVE SOCIETIES
1. Provision of loans and credit facilities to member:
Housing co-operative society links co-operative members to financial institutions. Banks government and other institution find it easier to deal with group interested in housing development instead of individual basis. The housing co-operative society scrutinizes individual members credit wordiness for housing loans negotiates better terms for loans and undertakes to generate such housing loans. Supervises or monitors the use of the housing loans/credit o avoid diversion, mismanagement or misapplication etc. in most cases, the problem is checked through the provision of building materials in kind to members by their housing co-operative society.
ii. Refund or Repayment of Housing Loans.
Co-operative society involved in housing scheme ensures that loans credits with interest are timely repaid to financial institutions that made it available by members. The society ensures this through early notification of beneficiary member of the due/maturity date.
1.1 STATEMENT OF THE PROBLEM
The housing problem in Nigeria is more pronounced in the urban areas, which have been growing in he member of housing units available for occupation.
Low and middle-income earners constituting over 95% of urban work force wee the most affected. The role of housing co-operatives in housing delivery and established ways of using the co-operative societies to increase the number of residential houses for low and middle income dwellers in our urban center. The Nigeria building and road research those of its study institute (NBRRI) made in Nigeria a prototype houses that can be funded by urban housing co-operatives.
