Minister Seeks Revamp of Cooperative Sector to Empower Nigerians

James Emejo in Abuja

The Minister of State for Agriculture and Food Security, Senator Aliyu Sabi Abdullahi has said revamping the cooperative sector would help to empower and prosper Nigerians.
He said this would also make cooperators part of the $1 trillion economy within the decade.
Abdullahi spoke while flagging-off the national training/workshop for trustees, management committee, and managers of cooperative societies in Nigeria.
The workshop was held for the South-East and South-South Cooperative Stakeholders Forum in Enugu State.
The minister said, “The largest cooperatives globally are about 300 and generate a total turnover of $2.4 trillion, highlighting their crucial role in driving economic growth and social development. They play a significant role in reducing hunger and alleviating poverty worldwide.
“Agricultural cooperatives contribute 35 per cent to the global cooperative asset base and turnover. The capacity building and development programme is a continuous process in the strategic blueprint for the revitalization of the cooperative sector in Nigeria carrying everyone along and letting them know that this government has laid down the political will to empower its citizenry’’.
He pointed out that the training was a prelude to bigger and better things for the cooperative sector as “we have some other upcoming events to ensure all stakeholders are carried along in this Renewed Hope Cooperative Reform and Revamp Programme’’.
He noted that the expected outcomes and Key Performance Indicators (KPIs) includes Review of the Nigerian Cooperative Societies Act N98 LFN 2004 to align with current realities, especially as it relates to technology; development and launching of a new National Policy for Cooperative Development and Growth 2025; establishing a National Regulatory Framework and Standard Operating Guidelines for Cooperatives in Nigeria; facilitate the establishment of a Bank for Cooperative Societies that will be solely owned and governed by cooperators themselves to serve their needs, among others.
In a statement by Assistant Director, Information, Mr. Ezeaja Ikemefuna, the minister stressed that the days of fake cooperative societies were gone, adding that measures were being taken to install sanity.
He said the National Council on Cooperative Affairs will be convened soon to bring synergy, collaboration and partnership with the States’ Cooperative ecosystem.
Abdullahi said, a national cooperative summit on Renewed Hope for Food Security, will bring all the stakeholders from the six geopolitical zones together and will be hosted in Abuja before the end of the second quarter of the year.
He lauded the efforts of the Provosts of the Federal Cooperative College in the South East and South-South geo-political zones to align with the Renewed Hope cooperative reform and revamp programme of President Bola Tinubu -led administration.
In his remarks, the Provost and Chief Executive Officer, Federal Cooperative College, Oji River, Enugu State, Dr. Jude Ejikeme, “This workshop provides a platform, not just for an intensive training for the participants but also, for key cooperative stakeholders from the South-East and South-South geo-political zones to interact with our dynamic and most versatile Minister in charge of Cooperative Affairs, share their views, and of course, offer opinions on the Renewed Hope Cooperative Reform and Revamp Programme.
“We hope to gain valuable insights into what our stakeholders expect from the government to facilitate cooperative development within their zones and Nigeria’’.
He also pointed out that the knowledge shared will focus not only on the core principles of cooperative management but also on the critical skills needed to navigate the challenges and opportunities of the modern economy.