Expert Wants Cooperative Financing To Check Housing Deficit

A real estate developer, Ebenezer Oladipupo has called for cooperative financing if the current housing deficit must be addressed in the near future.
Oladipupo, a Port Harcourt-based developer made this call from the sidelines at a forum organised for youth development at Akinima, Ahoada West Local Government Area of Rivers State last weekend.
He noted that the fight against storage of housing would succeed if there would be a shift from the conventional housing finance to cooperative and sustainable mortgage financing.
Oladipupo underscored the importance of co-operaive involvement in financing saying, they have more funds at low lending rated at their disposal to offer to participants.
He observed that Rivers State has come of age to consider cooperative funding as alternative development strategy for Port Harcourt to sustain its Garden City status.
Furthermore, he stated that while cooperative financing would aid inclusive housing, the Rivers State Government should consider also a tax credit mechanism in the funding of urban regeneration and development in Port Harcourt, especially in the proposed new city being administered by the Greater Port Harcourt City Development Authority.
He enjoined the housing ministry in the state to evolve programmes that would seek to close the gaps observed in human capacity to effect changes in development that would address the needs of the average Rivers man.

Tonye Nria-Dappa