…Abdulllahi: Global cooperatives asset base worth $19.6 trn
By Seun Adams
The Federal Ministry of Agriculture and Food Security (FMAFS) has pledged its readiness to revitalize the Cooperative Sector even as the Ministry reaffirmed that it would drive economic growth, promote social cohesion, enhance food security as well as reduce poverty in Nigeria.
Speaking during the Technical Strategy Session on the Implementation of the Cooperative Reform and Revamp Programme held in Abuja, recently, the Minister of State for Agriculture and Food Security, Sen. Dr. Aliyu Sabi Abdullahi stated that there is a need to chart a new course for the cooperative sector, built on the principles of transparency, accountability, and inclusivity.
Abdullahi revealed that “our mission today is to create an enabling environment that fosters innovation, entrepreneurship, and job creation, this aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes economic growth and development”.
Principal Information Officer, Ogbuagu Chika, who signed the statement on behalf of the, Director, Information, Dr. Joel Oruche, said the Minister outlined key areas of focus, including the review of the final report from the Ministerial Technical Working Group on cooperative reform.
He added that the implementation strategies developed would be in line with the President’s vision of building a $1 trillion economy.
He stated that the global impact of cooperatives and its combined asset base worldwide is valued at approximately $19.6 trillion while generating an annual revenue of $2.98 trillion.
Abdullahi, stated that there is a plan for restructuring the Federal Department of Cooperatives, enhancing institutions such as the Federal Cooperative Colleges and the National Centre for Cooperative Development.
According to him, ‘’the goal is to equip these institutions to provide high-quality training and prepare Nigerian youths for a modern, people-centric cooperative movement’’, the minister added.
He also underscored the importance of collaboration, calling for partnerships with private sector operators, civil society organizations, and cooperative societies across different categories.
“We must work together. The cooperative movement thrives on democratic principles and progressive thinking. Our success will depend on active participation and teamwork,” he said.
In his welcome address , the Director, Federal Department of Cooperative, Mr. Idris Sani, stated that ‘’ there is need to create a vibrant and inclusive cooperative sector that benefits all Nigerians, we must work together as a team to promote social inclusion and position cooperatives as catalysts for socio-economic transformation’’.
Earlier in his remarks, the Special Assistant to the Minister of State on Cooperatives and Farmers’ Welfare, Mr. Victor Oyegoke, pointed out that the programme would provide a comprehensive approach toward integrating youths, people with Disabilities (PWDs), and Gender inclusiveness into cooperatives by fostering collaboration with organizations like the European Union.
