Lagos State Government has described cooperative societies as strategic institutions for the future whose ecosystem must be repositioned as a critical component of national economic transformation.
Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Bada Ambrose-Medebem, made the remarks at the Ministerial Avocacy Tour On Cooperative Bank of Nigeria Share Capital Mobilisation & Sensitisation, And Cooperative Sector Digitalisation Drive organised by the Federal Ministry of Agriculture and Food Systems in Lagos on Monday.
According to the Commissioner, Lagos State has adopted the philosophy with deliberate policy actions aimed at modernising, strengthening and repositioning the cooperative movement for greater productivity, transparency and sustainability.
Her words: "Our approach recognises that the cooperative sector must evolve beyond traditional thrift and credit administration into a digitally enabled, professionally managed and investment-ready ecosystem capable of supporting industrialisation, food systems, job creation and inclusive prosperity.
"One of the most transformative initiatives embarked upon by the State Government is the digitisation of cooperative administration and operations. We recognised early that the sustainability and credibility of cooperatives in the twenty-first century depend significantly on technology integration, data integrity and operational transparency.
"This transition is gradually eliminating manual bottlenecks, improving record accuracy, enhancing compliance and enabling real-time access to cooperative information for planning and policy formulation, as we firmly believes that the future of cooperatives lies in smart governance systems powered by innovation, automation and digital inclusion."
She stated that the Renewed Hope Cooperative Reform and Revamp Programme, RH-CRRP 2025-2030, presents a historic opportunity to harmonise efforts nationally through a coherent and integrated framework.
"The proposed seven-pillar operational strategy appropriately recognises that cooperative transformation requires policy reform, institutional coordination, financial inclusion, technology adoption, human capital development, regulatory strengthening and grassroots empowerment working together in synergy, while stressing that Lagos State is fully aligned in its implementation.
Minister of State for Agriculture and Food Systems, and supervising Minister for Cooperative Affairs, Senator (Dr) Aliyu Sabi Abdullahi described the Ministerial Advocacy Tour as a direct outcome of the resolutions reached at the 8th Regular Meeting of the National Council on Cooperative Affairs (NCCA) held in Abuja in March 2026, where the Council approved the Renewed Hope Cooperative Reform and Revamp Programme (RH-CRRP).
"It is not coincidental that we are commencing the Cooperative Bank of Nigeria Share Capital Mobilization and Sensitization Tour from the South-West today. To us, this represents yet another historic milestone in the annals of cooperative development in Nigeria and a symbolic return to the roots of the cooperative movement in our country."
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