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Lagos State Governor, Mr. Babajide Olusola Sanwo-Olu has said that his administration will continue to support the growth of cooperative societies in order for them to continue to thrive, raise the socio-economic status of their members and create more employment opportunities in the State.
He added that such support will complement government efforts aimed at eradicating poverty and generally improve the welfare of the people.
Sanwo – Olu made the pledge on Thursday at the Lagos State Cooperative Federation (LASCOFED) Cooperative Festival held at the Blue Roof, Agidingbi, Ikeja.
The Governor, who was represented by the Deputy Governor, Dr. Kadri Obafemi Hamzat, said that the State Government recognises the critical role cooperative societies play in the process of socio-economic transformation and supporting members to be productive and financially self-reliant.
“This is the reason Lagos State Government has, over the years, shown keen interest in the affairs of cooperative societies in Lagos State with a view to providing necessary support to improve their relevance and effectiveness”, he said.
Sanwo-Olu averred that the State Government is very proud of Lagos State Cooperative Federation (LASCOFED) especially in the way they have continued to manage the affairs of cooperative organisations in Lagos, as it played a huge role in sustaining the reputation of cooperative societies in Lagos State and as the most vibrant, productive and progressive in Nigeria.
Speaking further, the Governor solicited their support and urged them to come out in large numbers on Saturday, 25th February and Saturday, 11th March, 2023 to vote for all candidates of the All Progressive Congress (APC) particularly, Asiwaju Bola Ahmed Tinubu and Governor Sanwo-Olu.
“The emergence of Asiwaju Bola Ahmed Tinubu as the President and the re-election of Governor Sanwo-Olu will be the only way to guarantee for ourselves, our children and grandchildren, progress, abundant dividends of democracy and prosperity. I implore you to take this message to every part of the state and beyond”, he enthused.
Earlier, the Commissioner for Commerce, Industry and Cooperatives, Hon. (Dr.) Lola Akande, stated that the Lagos State Cooperative Federation (LASCOFED) Festival has significantly contributed to the economic landscape of the State and has the potential to do more.
The Commissioner noted that Cooperatives have great relevance in modern day society and their significance cannot be undermined because of their contributions to societal and economic values, saying “They identify economic opportunities available to their members, empower them by sustaining and boosting, in real terms, the value of funds held in trust, and provision of financial security needed, which in turn increases the financial capability to generate income and sustain economic activities”.
She, however, urged more support for Cooperative activities in the State and instituting a lending fund for the Cooperatives Movement among others, to further strengthen cooperative practice in Lagos.
In his Goodwill Message, the Special Adviser to the Governor on Commerce, Industry, & Cooperatives, Engr. Abiola Okanlawon Olowu stated that the current socio-economic challenges demand the government to strengthen the Cooperative Movement now more than ever before.
He stressed that a strong Movement will ensure that the interests of the movement are safeguarded, as it will bring all relevant stakeholders together, using their respective resources, to tap into various investment opportunities in agro-processing, leather and textiles, which are currently the Ministry’s priority sectors.
In his remarks, the President, Lagos State Cooperatives Federation Cooperative Festival (LASCOFED), Barrister Oladipo Shobule disclosed that the Cooperative Festival was organised to highlight the activities and positive impacts that cooperative societies make on individual and the economy of Lagos State and to reward some individuals who have distinguished themselves and played significant roles in the growth and development of the cooperative movement in Lagos State.
He emphasised that Cooperative Societies offers a veritable avenue for government to implement policies and programmes for Lagosians and they are therefore ready to work with the State Government to raise the standard of living of Lagosians through Cooperative Societies.
The President also used the occasion to request for low interest Five Billion Revolving Fund for lending to members through their Cooperative Societies, saying that the societies in Lagos State are well structured and regulated.
