FG Mulls National Cooperative Housing Scheme to Tackle Deficit

Cooperative Housing Scheme Karmod Nigeria

By Modupe Gbadeyanka

Minister of Works and Housing, Mr Babatunde Fashola, has hinted that government was planning to initiate a national cooperative housing scheme suituable for the country.

The Minister said this at the grand opening of the Karmod Nigeria showroom in Abuja, which he commissioned some days ago alongside other personalities.

The former Governor of Lagos said federal government was willing to partner with 21st-century innovative companies like Karmod Nigeria in the implementation of the planned national cooperative housing scheme aimed at providing affordable houses for Nigerians and tremendously address the huge housing deficit in the country.

“Let me say that very soon we will initiate a national cooperative housing scheme. We have seen that cooperatives have been successful in markets; it has been successful in Agric; it has been successful in transportation. So, we think that they have huge and realized potential in housing,” the Minister said.

Mr Fashola said further that, “We know that states have cooperatives; we know that there are cooperatives within many unions and associations. We will be recommending and working with them. We will work with the state governments to ensure that access roads are built.”

In his opening speech, Managing Director/Chief Executive Officer of Karmod Nigeria, Mr Hakeem Shagaya, said the firm’s mission is to provide an alternative solution to the pressing housing challenges facing the country.

According to Mr Shagaya, Nigeria’s 17 million housing deficit could reach 35 million by the year 2035 judging by the country’s population growth rate.

“Recent statistics show that Nigeria has a housing deficit of over 17 million. With a population that is growing exponentially, this deficit may reach 35 million by the year 2035,” he said.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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