The Lagos State Government has commended the ambition and investment strategy behind Louisville, a mixed-use real estate development being undertaken by the TotalEnergies Staff Housing Cooperative Multipurpose Society Ltd (TEHC) in EkoAtlantic City.
The state’s Director of Cooperatives, Dr Adeyemi Adeyinka, gave the commendation during a visit to the project site on Monday, 2 November 2026, where he led a delegation of cooperative officials on an inspection tour.
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The delegation was received by TEHC officials, who presented an overview of the project, highlighting its construction progress, financing structure, safety standards and proposed facilities.
Speaking during the visit, Adeyinka described Louisville as a laudable initiative capable of improving members’ welfare while generating sustainable income for the cooperative.
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He noted that large-scale cooperative investments could stimulate economic activities beyond the immediate membership of societies, adding that such initiatives demonstrated the potential of collective investment in addressing Nigeria’s development challenges.
However, he urged the project promoters to anticipate possible financing challenges and put adequate measures in place to ensure that construction was not disrupted by funding constraints.
The Deputy Director of Cooperative Services, Mr Omotayo Kazeem, also praised the scale and vision of the development, particularly its location in Eko Atlantic City, which is associated with major corporate and institutional investments.
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He said the project demonstrated that cooperatives could successfully venture into ambitious real estate investments rather than restrict their activities to conventional thrift and credit operations.
Kazeem encouraged other cooperative societies to explore properly structured investments capable of delivering sustainable returns and improving members’ economic fortunes.
Other members of the delegation included Mrs Hunpe Esther, Area Officer; Mr Abimbola Kolawole, Assistant Area Officer; and Mr Arisu Olumide and Mr Olatunji Tawak, Registrars of Cooperatives.
During a roundtable session, TEHC officials outlined the development strategy for Louisville, emphasising its focus on creating long-term value through collective investment.
The project occupies approximately 22,000 square metres in Eko Atlantic City and is being developed in phases. Its first residential phase comprises 157 apartments ranging from two to five bedrooms, which are currently under construction.
Beyond residential accommodation, the master plan includes hospitality facilities, retail and commercial spaces, sports and wellness amenities, as well as supporting infrastructure.
The development is designed to integrate residential living with recreation, commerce and essential services, making it a mixed-use community rather than a conventional apartment complex.
The cooperative explained that 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 anticipated commercial contributions of the non-residential components.
The President of TEHC, represented at the visit by the Chief Operating Officer, Ehima Uwumarogie, said Louisville reflected the potential of collective investment to create lasting economic value.
“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 visit as an opportunity to showcase the progress made on the project and deepen the state government’s understanding of its investment and development model.
It added: “With the right leadership, governance and institutional support, cooperatives can play an even greater role in Nigeria’s economic development.”
The visiting officials also emphasised the importance of effective leadership, responsible governance and prudent financial management in sustaining large-scale cooperative investments.
They encouraged greater knowledge-sharing among cooperative societies, including through engagement with the Lagos State Cooperative Federation, to enable other societies to learn from TEHC’s experience.
The visit also provided an opportunity to explore areas of collaboration between TEHC and the state’s cooperative authorities, although no formal partnership was announced.
TEHC said it would sustain engagement with relevant regulatory and professional stakeholders as it works towards delivering the Louisville project.
About TEHC
Established in 2020 by serving and former employees of TotalEnergies in Nigeria, the TotalEnergies Staff Housing Cooperative Multipurpose Society Ltd is a member-owned organisation focused on collective investment and the development of residential and mixed-use communities.
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