Stakeholders have recognized the cooperative society model as a promising approach to providing affordable housing in Nigeria. This was emphasized during the Cooperative Housing Conference 2025 (CHC2025), themed “Delivering Affordable Housing through Cooperatives,” with a sub-theme on “Digitalisation of Cooperative Housing Finance,” held in Abuja.
Sen. Aliyu Abdullahi, the Minister of State for Agriculture and Food Security, expressed that cooperatives have the capacity to mobilize resources, foster entrepreneurship, and enhance the livelihoods of millions of Nigerians. Abdullahi, represented by his Special Assistant on Cooperatives and Farmers’ Welfare, Victor Oyegoke, highlighted that the conference aimed to facilitate the large-scale provision of decent and affordable housing for Nigerians through cooperative efforts
“As we work towards providing affordable housing through cooperatives, it is essential to create a supportive environment that fosters the growth and development of these organizations.
The Federal Ministry of Agriculture and Food Security, which oversees the Federal Department of Cooperatives responsible for regulating the sector, is dedicated to promoting cooperative development in Nigeria.
We acknowledge the vital role cooperatives play in enhancing agricultural development and improving farmers’ livelihoods,” he stated.
Abdullahi encouraged stakeholders to collaborate in developing practical solutions to advance cooperative housing initiatives in Nigeria.
Bola Ajomale, the Commissioner of Operations at the Securities Exchange Commission (SEC), also addressed the issue, highlighting that if more than 50 individuals contribute to a collective investment scheme for returns, it falls under SEC’s jurisdiction.
“We prioritize transparency and encourage the cooperative industry to explore opportunities in the capital market, allowing the public to see your activities,” Ajomale stated. He also reassured investors, emphasizing, “The SEC is committed to safeguarding investors and will take action against any organization that lacks good governance or fails to maintain proper accounting practices.”
Akintoye Adeoye, President of the Real Estate Developers Association of Nigeria, urged Nigerians to utilize cooperative societies as a means to achieve homeownership. “The cooperative system presents a viable solution to Nigeria’s housing issues, enabling individuals to collaborate in pursuit of affordable housing. It is the most cost-effective approach to addressing the challenges of affordable housing, food, and other necessities in our country today,” he remarked.
