Nigerite Staff Co-operative Expands into Real Estate

Mary Nnah

In a strategic move aimed at diversifying its investment portfolio and enhancing the economic well-being of its members, the Nigerite Staff (Ikeja) Co-Operative Multipurpose Society has announced its entry into the real estate sector.

The society’s President, Olarenwaju Kazeem, made the announcement during the 2024 Annual General Meeting and Account report, held during the weekend in Lagos.

According to Kazeem, the real estate venture is expected to generate significant returns on investment, which will in turn boost the economic fortunes of the society’s members.

“We are excited to announce our entry into the real estate sector, which is a critical component of any economy. This move is part of our strategy to create a sustainable source of income for the society, beyond our traditional loans and savings model,” he added.

“This project is a game-changer for our members, who will have access to affordable housing and commercial spaces,” Kazeem said. “We are committed to creating value for our members, and this project is just the beginning.”

The Nigerite Staff Co-Operative Society has been in operation for several years, providing loans and other financial services to its members. The society has a strong track record of delivering benefits to its members, and the move into real estate is expected to take this to the next level.

As Kazeem noted, the economic benefits of being a member of the society are enormous. “We provide loans to our members at very competitive rates, and we also offer other benefits such as car loans and building loans. Our members can also access business loans to support their entrepreneurial ventures.”

The society’s move into real estate underscores its dedication to innovation and excellence, demonstrating its ability to adapt and evolve in a rapidly changing economic landscape. As Kazeem promised,

“We will continue to explore new opportunities and create value for our members. The future is bright, and we are excited to see what’s next,” Kazeem added.