• Wednesday, February 28, 2024
businessday logo


Lagos to leverage 3000 cooperatives for improved livelihood

Lagos to leverage 3000 cooperatives for improved livelihood

The Lagos State government has reiterated its commitment to leveraging the over 3000 cooperative societies in the state for improved livelihood of the citizens.

“The administration recognises that cooperative movement is highly democratic, locally autonomous but internationally integrated,” said Adetutu Oluremi Ososanya, permanent secretary, ministry of commerce, industry and cooperatives, during a media briefing to herald the 2023 International Cooperative Day, held in conjunction with the Lagos State Cooperative Federation (LASCOFED), on Tuesday.

Themed, ‘Cooperatives: Partners for accelerated sustainable development’, Ososanya said this year’s celebration will

She disclosed that this year’s celebration will commence with a cooperatives awareness walk on Wednesday 23 August, while the governor Babajide Sanwo-Olu will be the special guest of honour at the luncheon/merit award on Saturday 26 August; and will end on Sunday 27 August 2023, with an interdenominational thanksgiving service at Chapel of Christ the Light, Alausa.

Read also: NIWA enhances safe navigation with new Police commander in Lagos

“The administration of Governor Babajide Sanwo-Olu has acknowledged the over 3000 cooperative societies in the state as significant associations and enterprises through which citizens can effectively improve their lives, while contributing to the economic, social and cultural advancement of their communities, state and nation,” she said.

However, to maximise the benefits of effective partnership with the cooperative movement, Ososanya said the administration was working to establish clear goals, objectives, and accountability mechanisms.

According to her, the partnership with cooperatives will be guided by a shared vision and common understanding of the desired outcomes.

“Government can partner with cooperative societies by providing grants for their operations, facilitate collaboration with Development Partners to enhance cooperative laws for effective operations of the societies.

“Cooperatives, being natural vehicles for collaborative partnership and prosperity for all, contribute to economic, social, and environmental sustainability across regions and economic sectors,” she said.

Oladipo Shobule, president of LASCOFED, said cooperative societies in Lagos have continued to meet the primary objectives for which they were created.