Cooperatives in Nigeria have been advised to move beyond saving for the sake of it and begin to channel their pooled resources into high-value real estate opportunities that appreciate over time and provide measurable returns.
This is because real estate serves as a mobility tool, unlocking freedom, prosperity, and global opportunities, and over time, it has proven to be more than just owning land or buildings.
Adetoun Otepola, Founder/CEO of Solid Foundation Group, explained further that a unique opportunity lies in early investment and outlined how the Group supports investors in unlocking value through well-structured and future-forward real estate offerings.
Otepola spoke at the 4th edition of the CEOs Forum, powered by CTTNetwork, and hosted in Lagos by Solid Foundation Group. The Forum had as its theme, ‘The Role of Real Estate in Strengthening Cooperative Wealth Structures.’
The Forum addressed a critical issue affecting many cooperatives in Nigeria and the reasons they often fail. Otepola listed poor leadership, lack of transparency, inadequate capital, and limited professional oversight as key internal factors, noting that, externally, regulatory challenges and economic instability compound these problems.
Read also: More Nigerians may slip into homelessness as rent crisis worsens across cities
“Without sound governance, proper registration, and access to financial tools, cooperatives are set up to struggle,” she noted, and advocated for professional management, member education, and legal compliance as non-negotiables for success.
“Cooperatives have the potential to be a powerful economic advantage, but they must be built on systems that sustain them,” she advised.
Chinyere Chimezie, Head of Marketing, Homebase Mortgage Bank Limited, stressed the importance of cultivating a strong savings culture for both individuals and their children.
She emphasised the urgent need for home ownership as a hedge against inflation and a pathway to wealth preservation. Chimezie also dispelled the doubts many Nigerians have about mortgage financing, explaining that mortgages are accessible and powerful if well understood.
She introduced innovative housing finance options, including the Ministry of Finance Integrated (MOFI) Real Estate Fund (MREIF), Family Homes Funds, and other national schemes designed to make home ownership possible for an average Nigerian.
Emmanuel Adeshina, Vice President, Corporate & Offline Business, Wakanow, used the occasion to unveil their ‘Pay Small Small (PSS)’ scheme, which is designed to help customers lock in travel deals by paying as little as 25 percent upfront and completing the balance over time before their travel date.
Adeshina described PSS as a model that demonstrates how organisations can offer flexible, scalable financial solutions without barriers such as credit profiling.
Read also: Developer sees growth in Abuja suburbs, launches luxury apartment
Adejoke Abe, General Manager of Wakanow, spotlighted Wakanow’s growing Holiday & Destination packages tailored for solo travellers, honeymooners, corporate groups, families, and affiliate groups.
“These packages span a variety of premium locations, including Singapore, Mauritius, Doha, Mombasa, Kenya, Uganda, Qatar, Kigali, Ghana, and local gems like Lakowe,” she said, adding that the company is committed to creating rich, seamless experiences across leisure and business travel.
A major highlight of the event was the unveiling of Citi Mall Lagos, introduced by Oluwatobi Osonuga, Managing Director, Chateau Royal Real Estate Limited. Positioned as the future of retail and lifestyle, Citi Mall is envisioned as a one-stop destination for shopping, dining, wellness, business, and entertainment.
Located in one of Lagos’ fastest-growing corridors, the development will feature a carefully curated mix of retail outlets, food courts, cinemas, executive office spaces, and lifestyle hubs designed to meet the needs of modern consumers and institutional investors alike.
