Ogun State Government has reiterated its commitment to grassroots economic empowerment, announcing that it currently has over 14,700 registered Cooperative Societies driving financial inclusion, agricultural development and job creation across the State.
Commissioner for Community Development and Cooperatives, Hon. Ademola Balogun, made this known while playing host to the Board members of the Cooperative Federation of Nigeria (CFN), who were in Abeokuta for their Quarterly Physical Board Meeting.
Welcoming the national delegation on behalf of the State Governor, Prince Dapo Abiodun, Hon. Balogun highlighted the State’s pioneering role in advancing the Nigerian cooperative movement.
The Commissioner, who underscored the current administration's support for the sector, said government had approved a N500 million revolving loan for the Ogun State Cooperative Federation Limited (OGSCOFED), noting that no previous administration in the State's history had released such a significant amount for the sector.
Balogun, explained that the funds were designed to strengthen cooperative financing and expand economic opportunities for members, adding that government would continue to provide an annual N1million subvention to support groups and its operational activities.
Earlier, President Cooperatives Federation of Nigeria, Mrs. Hannatu Mershak, commended the present administration for consistently demonstrating a remarkable commitment to the growth and development of the cooperative movement, also said the Cooperative Federation of Nigeria (CFN) remained the apex national organisation representing the interests of cooperative societies across the 36 States of the country and Abuja, just as it also served as the unified voice of the cooperative movement that promoted policies and programmes geared toward inclusive economic growth, financial inclusion, poverty reduction, job creation, food security and sustainable national development.
She noted that cooperative movement was diverse and vibrant, comprising several categories of cooperatives, including Thrift and Credit Cooperatives, Agricultural Cooperatives, Farmers' Multipurpose Cooperatives, Consumer Cooperatives, Housing Cooperatives, Multipurpose Cooperatives, Industrial and Artisan, among others.
Mershak, reassured that the societies would continue to provide essential services, create employment opportunities, empower women and young people, support small and medium-scale enterprises and contribute significantly to the nation's economic ecosystem.
"We wish to sincerely commend the Ogun State Government for its unwavering support to the cooperative sector, as we also appreciate the intervention funds and revolving loan schemes provided to cooperative societies, which had enhanced access to finance, strengthened businesses, increased productivity and improved the welfare of thousands of cooperative members across the State," she said.
She acknowledged the present governments’ commitment towards providing an enabling environment which had allowed OGSCOFED to carry out regular statutory audits, aimed at promoting transparency, accountability, sound financial management and good governance within the cooperative movement, emphasising that the National body remained committed to partnering with governments at all levels to strengthen cooperative institutions, deepen youth and women participation, encourage innovation and digital transformation and position cooperatives as strategic partners in achieving sustainable economic development.
No comments:
Post a Comment