Nigeria experts want partnership with cooperatives in housing delivery

 Real estate experts have called on state governors and other relevant government agencies to address the Nigeria’s housing needs. They are looking to to partner with cooperative societies for the provision of affordable housing.

Former publicity secretary of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Meckson Okoro led the call. This was at the presentation of housing types for Perfection Investors Cooperative Society Limited. The society is an independent membership real estate club in Lagos.
Okoro, chairman of the occasion said this was necessary due to lack of mortgage institutions to finance real estate. He urged people to buy into real estate and wait for it to increase in value other than waiting to buy.
He also praised the cooperative for coming out with the house types. Guest lecturer and Managing Director of Realty Point Limited, Mr. Debo Adejana referred to real estate investment as a gold mine. However, Nigerians are not benefiting from it because of lack of interest.
Real estate investment
Adejana said that areas that have developed to become city centres were once remote areas people ran away from. He advised that investments into real estate should not be delayed. This is because according to him experience had shown that assuming took away opportunities for people to either be land or house owners.
According to him, Ibeju Lekki in Lagos is the fastest growing construction town in Africa today. That is due to people  building  in the area and it is expected that by 2020 the hub will create 50,000 jobs. Adejana explained that Ibeju Lekki had easy access because it had airport. The Free Trade Zone and seaport are some ongoing projects that will open the area rapidly.

Posted on : 15 Aug,2017

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