Lagos Govt challenges cooperatives to put money into actual property, praises TEHC’s mission

The state’s Director of Cooperatives, Dr. Adeyemi Adeyinka, gave the cost whereas commending the funding imaginative and prescient behind Louisville, a mixed-use improvement by TotalEnergies Staff Housing Cooperative Multipurpose Society Ltd (TEHC) in Eko Atlantic City.

Adeyinka made the remarks throughout a go to to the mission website on Monday, November 2, 2026.

The delegation obtained shows on the mission’s building progress, financing construction, security practices and proposed amenities.

He, nonetheless, urged TEHC to anticipate potential financing challenges and set up satisfactory measures to stop building delays ensuing from funding constraints.

The Deputy Director of Cooperative Services, Mr. Omotayo Kazeem, additionally praised the mission’s scale and imaginative and prescient, notably its location in Eko Atlantic, an space related to main company and institutional investments.

He mentioned Louisville demonstrated the potential of organised cooperative funding, urging different societies to look past typical thrift and credit score operations and discover well-structured investments able to delivering long-term returns.

Both officers mentioned cooperatives may play a better function in addressing housing wants and supporting financial improvement by efficient management, sound governance and monetary self-discipline.

Other members of the delegation included Mrs. Hunpe Esther, Area Officer; Mr. Abimbola Kolawole, Assistant Area Officer; and Mr. Arisu Olumide and Mr. Olatunji Tawak, Registrars of Cooperatives.

During a roundtable session, TEHC officers defined that Louisville occupies roughly 22,000 sq. metres and is being developed in phases. Its first residential section includes 157 residences, starting from two to 5 bedrooms, that are at present underneath building.

The wider improvement consists of hospitality amenities, retail and business areas, sports activities and wellness facilities, in addition to supporting infrastructure. The mission is designed to combine residential lodging with recreation, commerce and important companies.

TEHC mentioned its financing mannequin combines members’ contributions and property subscriptions with institutional financing preparations.

The cooperative’s President, represented by the Chief Operating Officer, Ehima Uwumarogie, mentioned the mission demonstrated the financial worth of collective funding.

“Louisville represents what is possible when people come together with a shared vision, a clear purpose and the commitment to turn collective resources into lasting value,” the cooperative acknowledged.

It added that efficient management, governance and institutional help may allow cooperatives to contribute extra considerably to Nigeria’s financial improvement.

The visiting officers inspired knowledge-sharing amongst cooperative societies, together with by the Lagos State Cooperative Federation, to allow different organisations to study from TEHC’s expertise.

The go to additionally explored alternatives for nearer collaboration between TEHC and the state’s cooperative authorities, though no formal partnership was introduced.

Established in 2020 by serving and former TotalEnergies staff in Nigeria, TEHC is a member-owned organisation centered on collective funding and the event of residential and mixed-use communities.