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FG urged to adopt housing cooperative model

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To reduce house shortages and ensure easy homeownership, experts have made case for adoption of housing cooperative model. Nigerians, they said, need housing cooperatives basically because of low level of their income that could not generate bulk fund needed for homeownership.

They spoke at the inauguration of Total Estate Solutions (TES) Ojo Multipurpose Housing Cooperative Society, promoted by Tobykemsworth Limited, an estate management/development firm in Lagos.

Leading the call at the event, Managing Director and Chief Executive Officer of Kaytise Ventures Limited, Mr. Alatise Olakanmi stressed the need for well guided and vision driven cooperative societies to solve the housing problems.

Olakanmi urged government to partner with housing cooperatives to address the housing needs of the low-income earners.

Also, a retired tax and property consultant with the Lagos State Government, Mrs. Alli Adepeju acknowledged the importance of the cooperatives, stressing that production of houses for low-income earners will continue to be a mirage without purposeful cooperatives.

For the president, General Anatu Silas, housing cooperative remains key in homeownership because it offers an easy means of providing funds.
General Silas also expressed willingness of the Nigerian Army to partner with the cooperative to provide housing for its personnel.

In his remarks, the Managing Director/Chief Executive Officer of Tobykemsworth, Mr. Adekunle Raphael-Monehin, said housing cooperatives are needed basically because of the low-income level of majority of Nigerians. He stressed that with the help of crowdfunding, which the cooperative will coordinate, majority of Nigerians could own their homes easily.


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