Government seeks to boost affordable housing through cooperatives and digital finance

By Joseph Erunke, Abuja

The Federal Government announced new measures on Tuesday to accelerate the delivery of affordable housing through cooperative societies, digital finance, and strategic partnerships, stating that traditional mortgage systems alone are insufficient to address Nigeria’s housing crisis.

During the 2026 Cooperative Housing Summit Africa (CHOSA) in Abuja, senior officials and stakeholders highlighted that millions of low‑ and middle‑income Nigerians remain excluded from home ownership because of rising housing costs, weak financing structures, and limited mortgage access.

Minister of State for Agriculture and Food Security, Senator Aliyu Sabi Abdullahi, explained that the government is pursuing reforms to reposition the cooperative sector as a key vehicle for affordable housing and financial inclusion.

Abdullahi outlined plans to establish a Cooperative Bank of Nigeria that would provide accessible financing for cooperative housing schemes, mortgages, infrastructure development, and community projects.

He said the proposed bank would operate under a cooperative ownership structure and focus on underserved Nigerians, especially informal‑sector workers.

“The cooperative sector is a sleeping giant. Through cooperative systems, we can democratise access to housing, expand financial inclusion and build resilient communities,” he said.

The minister also noted that the government is digitising cooperative operations nationwide to enhance transparency, financial management, credit access, and investor confidence.

He explained that digital finance platforms would streamline mortgage repayment, monitor housing projects, and verify cooperative members.

Earlier, the Minister of Housing and Urban Development, Dr. Muttaqha Darma, represented by Samuel Pemi, Director of Public Buildings and Housing Development, stated that cooperative housing remains one of the most practical solutions to Africa’s growing housing deficit.

He added that technology‑driven finance would play a major role in improving mortgage administration and housing access for citizens in both formal and informal sectors.

Darma reaffirmed the ministry’s commitment to strengthening housing finance systems and supporting sustainable urban development across Nigeria and Africa.

Convener of the summit and Founder of Nigeria Integrated Social Housing Cooperative Ltd. (NISH), Dr. Saheed Adelakun, criticized the traditional Public‑Private Partnership (PPP) model, insisting that affordable housing delivery must now adopt a “Public‑Private‑People Partnership” approach.

According to him, intended homeowners must be directly involved in housing projects for affordability to be achieved.

“We need houses that low and middle‑income earners can truly afford. Government, developers, cooperatives and homebuyers must work together,” he said.

President of the Cooperative Federation of Nigeria (CFN), Mrs. Hannatu Mershak, said the federation currently supervises more than 50,000 cooperatives with over 30 million members nationwide.

She stressed that cooperatives have become vital instruments for savings mobilisation, affordable financing, and community development.

Mershak urged governments, financial institutions, and private investors to deepen collaboration with cooperatives to address Nigeria’s housing shortage.

The summit, themed “Catalysing Adequate Housing for All Through Cooperatives,” attracted policymakers, developers, financiers, fintech firms, and housing experts from across Africa.

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