Resilient Home Financing: Cooperative Societies and Home Ownership among Staff of the University of Ibadan

Abstract

Many workers in Nigeria struggle with inadequate housing due to ineffective housing policies. To address this issue, they often turn to cooperative societies (CS) as a means of home financing. This study evaluates the impact of CS on home ownership among staff at the University of Ibadan, utilizing a sequential mixed-methods approach. Via purposive and random sampling techniques that achieved a 95% response rate, data was collected from six CS, involving 154 members. Quantitative data were analysed using descriptive statistics (Chisquare), while qualitative insights were gathered from focus group discussions with CS leaders. The findings of this research highlight the resourcefulness and adaptability of university staff in the face of housing insecurity. Thus, CS are shown as a resilient medium through which workers source housing finance despite systemic exclusion.