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Affordable Housing: Family Homes Funds, NISH Inaugurate Cooperatives Committees

NISH Affordable Housing Limited and Family Homes Funds have inaugurated 2 technical committees that will look into the problems faced by cooperatives in Nigeria, especially access to funding.

This was announced by the organisations at the first edition of their quarterly workshop on cooperative housing in Nigeria at the Shehu Musa Yaradua Centre, Abuja, from 2nd to 3rd May 2019.

The technical committees are: (1) Saving Schemes Committee and (2) Special Purpose Vehicle (SPV) Committee on Cooperatives.

According to the MD/CEO of Nish Affordable Housing, S K Yemi Adelakun, at the end of the 2-day successful workshop on cooperative housing, the participating stakeholders decided to inaugurate 2 technical committees that will help bring about solutions to some of the challenges that were identified in the workshop.

‘’There are two technical committees. The Saving Schemes Committee will in addition to some of what we have agreed on in this workshop go ahead to study more on how cooperatives can through self-help raise funds through saving schemes.

‘’The second committee which is the Special Purpose Vehicle will dwell more on how to bring about the conglomeration of existing cooperatives in Nigeria, establish them under a single but collective platform which will further help their cause. Even Nish is a part of cooperatives that will join-in under that body for the sake of harmony and collective results because no one can do it alone,’’ he said.

On the objectives of the 2-day workshop which are to organise, empower, and acquaint cooperative leaders with Innovative Cooperative Housing Principles and sensitise them on how to aggregate members’ equity contributions through savings scheme towards effective and sustainable delivery of affordable housing to Cooperators, and to also strengthen the governance capacity, transparency and accountability of housing Cooperatives through information and communications technology, Adelakun expressed his satisfaction with what has been achieved and the commitment shown by the cooperatives.

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He also enjoined other cooperatives to key into the initiative because the task of bringing about affordable housing in Nigeria is clearly beyond the government.

Also adding his voice, the MD/CEO of Family Homes Funds, Femi Adewole said that the expectations for organising the workshop were not only achieved but even surpassed.

‘’Like we have said, the purpose is to rally everyone together and look at what we can do on our own. The cooperatives have a lot of role to play in affordable housing in Nigeria and this workshop, which is going to be quarterly has already increased that realisation, which is a fulfilment of our purpose,’’ he added excitedly.

By Ojonugwa Felix Ugboja

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