Ogun State Government has spearheaded a series of structural reforms aimed at revitalising the cooperative sector
The motions, presented during the technical sessions by the State Representative, Director of Cooperatives Services, Mr. Samuel Mustapha, during the 8th Regular Meeting of the National Council on Cooperatives Affairs (NCAA) at Abuja, signaled a shift toward a more technology-driven and financially autonomous future for millions of cooperative members nationwide.
According to the reform, Ogun had called for the revival of cooperatives legacy across the country, recalling that cooperative movement served as a strong economic pillar especially in the southwest through which agricultural production and employment opportunities were expanded, including the establishment of a Cooperative bank in the country.
The motion included; the establishment of a stand-alone Ministry for Cooperatives, creation of a Cooperative fraud unit as well as the development of a mutual Cooperative share exchange to enable societies trade and invest among themselves
The State Government in alignment with the renewed hope agenda sponsored key stakeholders on international engagement to establish strategic partnership between the State and German cooperative institutions.
Central to the deliberations was the motion for the formal digitalisation of cooperative activities across Nigeria, moved by the Commissioner in the Ministry, Hon. Ademola Balogun,
He emphasised that transitioning to digital platforms was no longer a luxury, but a necessity to ensure transparency, improve data collection and enhance the ease of doing business for cooperative societies.
On.the agenda for structural reform, Hon. Balogun, successfully moved for the comprehensive review of the Cooperative Act of 2004, while observers noted that the two-decade-old legislation had long been due for an overhaul to reflect modern economic realities.
The State Commissioner for Cooperative while reading the Communique on behalf the Council , acknowledged the role of the three tiers of government in revatilising and reforming the cooperative sector as a catalyst for inclusive growth and sustainable development in Nigeria, j
The Communique recognised the effort of President Bola Ahmed Tinubu in prioritising the revitalisation of cooperatives as a major pillar in achieving food security, job creation and an inclusive economic growth.
The Council also noted the need to upscale innovative research and development in all agro-allied and agricultural commodities cooperatives, stressing the strategic importance of strengthening national apex cooperatives for inclusive agricultural and economic empowerment in the country.
Furthermore, the Council subscribed to the establishment of cooperative Bank of Nigeria (COOPBANK, Nigeria) and regulatory body for its operationalisation to deliver more inclusive financial services as well as the continued engagement to support the process of updating the cooperative Act to reflect modern practices and strengthen its movements across the country.
Highlight of the event was the handing over of the Cooperative document by the Minister of State for Agriculture and Food Security, Sen. Dr. Aliyu Abdulahi, who doubles as the supervising Minister of Cooperative Affairs in Nigeria to Hon. Ademola Balogun, granting the hosting right to Ogun State for the 2027 edition.
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