Anambra State to Review Cooperative Law to Enable Business Capital via Cooperatives

…Over 20,000 Cooperatives to Benefit from Gov Soludo’s Funding

The Governor of Anambra State, Professor Charles Soludo has revealed his government’s preparedness to review the Cooperative law with the aim to enhance the availability of capital for businesses through the cooperatives.

Governor Soludo disclosed this in Awka during the celebration of International Cooperative Day, with the theme: “Cooperatives, Partners for Accelerated Sustainable Development.”

The Governor who was represented by Commissioner for Industry, Christian Udechukwu expressed his government’s readiness to partner with cooperative societies in Anambra, particularly in the area of funding, facilities, and market creation.

Prof Soludo also revealed his government’s plans to migrate government business online to assist the societies plan properly in order to avoid wastages and losses.

“The current administration is reviewing the cooperative law with a view to amending and expanding it to make capital available to the people of the State through the medium of cooperatives.

“We want you to multiply your productivity from one hectare to 100 or more. We’re ready to back you up with the necessary equipment and funding to expand your productive capacity.

“I’m aware that there are over 20,000 cooperative societies in the State. That’s good news. That shows our cooperative list is growing.

“We’ve also trained about 4,000 youth under the one youth two skills programme, who are already being integrated into about 400 cooperatives being registered to join the professional cooperatives of the state.

“If we know what you’re producing and when you’re harvesting, we can arrange with those who can buy off your produce to meet you at your farm and pay you the amount that is profitable, ” he said.

Earlier, the Director of Cooperative Services in the Ministry, Mrs Nwabugo Okonkwo described cooperatives as a global wheel of economic development, poised to encourage societies.

“Emphasis is being laid continually that membership to a cooperative society is not an avenue for sipping governments funds, but rather a means of assisting one another towards achieving collective goal interest,” she said.

President of National Population Commission (NPC) Staff Multipurpose Cooperative Limited, Dr. Joachin Ulasi praised the government for creating the platform, saying it had offered members the opportunity to meet up with their financial challenges and make investments.

“A lot of us have been able to achieve a lot which ordinarily they would not have been able to achieve. Some have acquired lands, while others have built houses ahead of retirement,” he concluded.