Cooperative steps in to assist FG bridge over 20m housing deficit


•Low income housing estate in Abuja.

By Gabriel Ewepu – Abuja

As Nigerians continue to grapple with the challenge to own decent houses of their dream, the Affordable Housing Cooperative Society, Tuesday, stepped in to assist Federal Government to bridge the existing over 20 million housing deficit with the launch of two products, Easy Mortgage and Collateral Direct.

The launch of the products was done via webinar by the President, Affordable Homes Cooperative Society Town Planner Komolafe Lukman, along with other board members.

Lukman explained that the government alone cannot provide houses for the over 200 million Nigerians and those yet to be born, hence cooperative societies such as the Affordable Homes Cooperative Society,  to jump in to rescue the situation with innovative strategies to ensure Nigerians own decent homes of their dream.

He said: “Today is an important day for us at Affordable Homes Cooperative Society, which was established over 10 years, and it was formed to fill the gap, which is housing need, which is also a basic necessity of life including clothing and food.

“We have a serious deficit in Nigeria as far as housing is concerned. The sole aim of forming this cooperative in 2011 is to solve part of the deficit of housing in Nigeria.

“In making that effort we acknowledge the fact that there are challenges, but we at Affordable Homes Cooperative we are taking advantage of the opportunities by making sure we meet the housing needs of Nigerians and also bridge the gap.

“However, we have identified problems facing the housing sector in Nigeria which include land, mortgage, which an average Nigerian cannot afford a mortgage because of the income of Nigerians.

“Considering these challenges we have come up with two basic solutions to address these challenges, which we call Easy Mortgage; this is to assist Nigerians access mortgage easily, and the other is what we call Collateral Direct; this is to tackle the challenge of an…

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