FG moves to unlock affordable housing through cooperatives, digital finance

By Joseph Erunke, Abuja

The Federal Government on Tuesday unveiled fresh plans to drive affordable housing delivery through cooperative societies, digital finance and strategic partnerships, declaring that conventional mortgage systems alone can no longer solve Nigeria’s housing crisis.

Speaking at the 2026 Cooperative Housing Summit Africa (CHOSA) in Abuja, top government officials and stakeholders said millions of low and middle-income Nigerians remained locked out of home ownership due to rising housing costs, weak financing structures and limited access to mortgages.

Minister of State for Agriculture and Food Security, Senator Aliyu Sabi Abdullahi, disclosed that the government was pushing reforms to reposition the cooperative sector as a major vehicle for affordable housing and financial inclusion.

Abdullahi revealed plans for the establishment of a Cooperative Bank of Nigeria designed to provide accessible financing for cooperative housing schemes, mortgages, infrastructure development and community projects.

According to him, the proposed bank would operate under a cooperative ownership structure and focus on underserved Nigerians, especially workers in the informal sector.

“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 said government was digitising cooperative operations nationwide to improve transparency, financial management, access to credit and investor confidence.

He explained that digital finance platforms would simplify mortgage repayment systems, housing project monitoring and cooperative member verification.

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

He noted 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, faulted the traditional Public-Private Partnership (PPP) model, insisting that affordable housing delivery must now embrace 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 had 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,” drew policymakers, developers, financiers, fintech firms and housing experts from across Africa.

The post FG moves to unlock affordable housing through cooperatives, digital finance appeared first on Vanguard News.