With an asset base of over N33 billion, Lagos cooperative societies have been described as major contributors within the cooperative space to the growth of the Nigerian economy.
As of June 29, 2021, a total of 2,359 cooperative societies had been revalidated in the state with membership climbing to 2 million people, boosting assets worth over N33 billion.
Cooperatives are enterprises based on ethics, values, and principles. They are formed by people with similar goals, objectives and aspirations. Over time, through self-help and low-interest loans, cooperatives have helped to lift people out of poverty and contribute to the growth of many economies.
According to International Cooperative Alliance, about 12 percent of humanity are co-operators, representing more than one billion from three million cooperatives worldwide. The international cooperatives day is marked July 3 of every year.
Lola Akande, Lagos State commissioner for commerce, industry and cooperatives, speaking to journalists, on Tuesday, as part of activities to mark 2021 International Cooperatives Day, said the celebration this year presents an opportunity to showcase the achievements of cooperative societies in Lagos State. This year’s celebration is themed “Rebuilding Better Together.”
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“Through self-help and empowerment, reinvesting in communities and concern for the well-being of people and the world in which we live, cooperatives have nature long-term vision for sustainable economic growth, social development, and environmental responsibility,” said Akande.
According to the commissioner, the state government working with the Lagos State Cooperative Federation, would on Thursday, be commissioning cooperative community projects, including boreholes in Ibeju Lekki, Badagry and Ikeja.
This would be followed by Jumat Service at the Alausa Mosque on Friday, July 2; panel discussion on the theme “rebuilding better together and exhibition by MSME co-operators on Saturday, July 3, where Governor Babajide Sanwo-Olu is expected to deliver a keynote address. The celebration would be rounded off on Sunday, July 4 with a Thanksgiving Service at the Chapel of Christ the Light, Alausa, Ikeja.
