FG to partner innovative companies on the national cooperative housing scheme

The Minister of Works and Housing, Babatunde Fashola, on Tuesday, said the Federal Government will be 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.

According to Fashola, the scheme will help tremendously in addressing the huge housing deficit in Nigeria.

The Minister, who spoke during the grand opening of the Karmod Nigeria showroom in Abuja, said, “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 added, “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.”

The Managing Director/Chief Executive Officer, Karmod Nigeria, Hakeem Shagaya, in his opening remark 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.

He said, “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.”