How Cuddle IFC solves Nigeria’s housing deficit through cooperative funding

Nigeria’s housing deficit has long been a pressing issue, exacerbated by high building material costs, limited access to infrastructure, and stringent mortgage conditions.

According to Hon. Minister of Housing and Urban Development, Arc. Ahmed Musa Dangiwa has, Nigeria faces an estimated housing deficit of 28 million units, a situation exacerbated by rapid urbanisation and migration.

However, Cuddle IFC, a cooperative society, is offering an innovative solution through resources from its members. This not only helps solve the housing shortage but also creates wealth through real estate.

John Igbinosa, Co-founder of Cuddle IFC, in an interview, said, “While properties are being built daily, many are priced beyond the reach of the average Nigerian. Our cooperative model enables us to raise funds collectively, which allows us to acquire sustainable projects that offer affordable housing solutions.”

This collective approach has proven successful. By drawing on the power of its large member base, Cuddle can generate significant liquidity, helping to finance affordable housing schemes.

The firm’s approach to affordability is also designed with the end user in mind. Members benefit from monthly payouts of rental income from properties owned by the cooperative. These payouts, facilitated by upfront rent payments, provide members with consistent, predictable income. This model offers not only an avenue for housing investment but also a way for individuals to begin building wealth with relatively small investments.

“We prioritise timely rental income distribution through a structured and transparent system,” said Fabian George, Co-founder of Cuddle IFC. “By leveraging automated payment systems and maintaining a clear financial reporting framework, we ensure that every member receives their earnings without unnecessary delays. Our commitment to open communication further strengthens trust, keeping members informed about payment schedules and any factors that may affect disbursement.”

Adewale Dasilva, CFO, Cuddle IFC, shared his personal perspective: “From a young age, I learned about wealth-building through consistent investments. At Cuddle, we aim to do the same for our members, offering them the chance to acquire properties and receive stable returns, helping them on their journey to financial independence.”

For members, this means that a small investment can grow into something substantial. “Whether contributing 20,000 naira or 10 million, members see their investments generate both rental income and capital appreciation,” Dasilva said. “This dual benefit makes real estate accessible to a broader demographic, including those who might have once thought it out of reach.”

Furthermore, the company’s transparent and secure financial system ensures members receive their rental income in a timely manner.

“Our client dashboard provides real-time access to investment data, offering insights into market updates, property valuation, and investment progress,” David Ghena, CTO of Cuddle IFC explained. “By embedding transparency into our technology stack, we empower clients with the information they need to make informed decisions, reinforcing trust and accountability in the real estate investment process.”