The Lagos State Director of Cooperatives, Dr Adeyemi Adeyinka, has praised the vision behind Louisville, a mixed-use real estate development by TotalEnergies Staff Housing Cooperative Multipurpose Society Ltd (TEHC).
Adeyinka made the remarks during a visit to the project’s site at Eko Atlantic City on Monday, November 2, 2026.
The delegation met with TEHC officials for a presentation and site inspection covering construction progress, financing arrangements, safety practices and planned facilities.
The visit gave state cooperative authorities an opportunity to assess how a member-owned organisation is mobilising resources for large-scale property investment.
Adeyinka described Louisville as “a laudable project,” noting its potential to improve members’ welfare while generating income for the cooperative.
He said developments of this scale could also stimulate economic activities beyond the cooperative’s membership.
However, he urged TEHC to anticipate financing risks and establish reliable arrangements to prevent construction delays caused by funding challenges.
The Deputy Director of Cooperative Services, Mr Omotayo Kazeem, also commended the project’s scale and ambition, particularly its location in Eko Atlantic.
Kazeem said the initiative demonstrated the potential of organised cooperative investment in a location commonly associated with major corporate and institutional investors.
He encouraged other cooperative societies to expand beyond traditional thrift and credit activities by exploring structured investments capable of delivering long-term returns.
Both officials said cooperative investments could contribute to housing delivery and economic development when supported by effective leadership and financial discipline.
During a roundtable session, TEHC representatives presented the project’s development strategy and its focus on creating lasting value through collective investment.
Louisville occupies approximately 22,000 square metres in Eko Atlantic and is being developed in phases.
Its first residential phase comprises 157 apartments, ranging from two to five bedrooms, which are currently under development.
TEHC said its financing model combines members’ contributions and property subscriptions with institutional financing arrangements.
The project team also briefed the delegation on construction challenges, safety measures and the expected commercial contribution of the development’s non-residential components.
The President of TEHC, represented at the visit by the Chief Operating Officer, Ehima Uwumarogie, highlighted the economic potential of collective investment.
“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 said.
TEHC described the delegation’s visit as an opportunity to showcase progress at the site and strengthen understanding of its investment and development model.
The cooperative added that stronger leadership, effective governance and institutional support could help cooperatives contribute more significantly to Nigeria’s economic development.
