Nigeria Today - http://nigeriatodaynews.com/news/cooplag-flags-off-housing-estate-in-banana-island

Shell Staff Cooperative Investment and Thrift Society, COOPLAG has flagged off the construction of a signature housing estate in one of Nigeria's most expensive piece of real estate, Banana Island, Ikoyi Lagos.

Named “The Autograph”, the ambitious world-class housing project will cost the thrift investment society about 6 billion naira.

The General Manager of COOPLAG, Yinka Omidosu told Nigeria Today at the ground-breaking ceremony on Saturday that the project is sited on a 12,000SQM of land and will consist of 32 units of 5-bedroom semi-detached triplexes, 24 units of 4-bedroom flats, and a highrise of 7 floors consisting 6-floors of 4-bedrooms, about 24 units, and four penthouses of 3-bedrooms.

“It’s a project we are hoping to complete within 24 months. Everything external about the project will be done. Infrastructure in the estate will be done including a playground, swimming pool, power supply and other facilities that world-class estate deserves,” he said.

The ground-breaking ceremony was attended by several dignitaries including the Managing Director of Shell Nigeria Exploration and Production Company, SNPECO, Mr Bayo Ojulari, Federal Director of Cooperative, Abuja, Alhaji Idris Ali Sani, Managing Director of Cooperative Mortgage Bank, Kabir Tukur, Executive Director of Access Bank, Mr Victor Etuokwu and President of COOPLAG Mr Rotimi Akintomide.

The Managing Director of SNEPCO, Mr Bayo Ojulari, while congratulating all COOPLAG members on the project noted it was an important step in the quest to reduce Nigeria’s housing deficit, adding that Nigerians can draw inspiration from the project on how best to leverage of collective investment.

He said: “The more Nigerians who can own their own houses and get out of the whole renting thing, the less the pressure on the overall society. So, that’s the first thing for me about this project. The second thing is that projects like this also helps to build confidence in the minds of other people that it is possible.

“What is happening is that a lot of people in Nigeria try to do things on an individual basis. When you see two, three or four people come together, things are a lot easier. What the cooperative society demonstrates is that even something you cannot achieve individually, collectively, you can achieve it.

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