Cooperative Housing, A Viable Solution To Housing Challenges- Adelakun

A retired Permanent Secretary, Dr. Yemi Adelakun, has called for stronger support for cooperative housing as a viable solution to the nation’s housing challenges.

Dr Adelakun, who made this call at the Cooperative Housing Conference held in Abuja, emphasized the need to support the government’s efforts at all levels in addressing the housing deficit.

Dr Adelakun who is also the onverner of the Cooperative Housing Conference explained that the conference aimed at promoting a cooperative self-help model for the development, financing, and ownership of affordable housing, particularly for low-and middle-income earners across both the formal and informal sectors.

According to Adelakun, “the time is now for a digitally enabled cooperative Housing Fund for the teeming population of Nigerians. Imagine five million Nigerians contributing N1000 monthly to the fund, that is five billion monthly and sixty billion annually. We can further imagine, if our various cooperatives consolidate their funds instead of acting in silos”.

Adelakun explained further that, “I can attest that some of the cooperatives have billions of naira in their bank accounts and some hectares of land waiting for development.

“Therefore the need to leverage on various presentations to harness untapped potential.”

In a goodwill message, the Minister of State for Agriculture noted that the government is committed to creating an enabling environment through supportive policies to enhance affordable housing delivery through cooperative societies.

In his words “we sent delegates to Kenya last week, as part of our effort in revitalizing the cooperative sector, i am pleased to note that, the Federal Ministry of Agriculture and food security, where the federal department of cooperative is domiciled is committed to supporting cooperatives in Nigeria. Let us share our experiences and ideas and work together to develop a practical solution that will promote cooperative housing development in Nigeria.”

Other stakeholders at the event also urged relevant authorities to intensify efforts and provide the necessary backing to fast-track solutions that will effectively address the country’s housing deficit.

The theme of the Cooperative Housing conference 2025 is “Delivery Of Affordable Housing, Through Cooperative,” with the sub theme: “Digitalization of Cooperative Housing Finance”.

Florence Adewale, Edited By Grace Namiji