FG Vows to Revamp Cooperative Societies, Eliminate Fake Ones in Nigeria

In a bid to restore sanity and confidence in the cooperative sector, the Federal Government has reiterated its commitment to revamping and reforming cooperative societies in Nigeria. The government has pledged to weed out fake and corrupt societies that have been exploiting innocent citizens.

A New Era for Cooperative Societies
The Honorable Minister of State for Agriculture and Food Security, Sen. Dr. Aliyu Sabi Abdullahi CON, made this commitment known at the flag-off ceremony of the National Intensive Training Workshop for trustees, management committees, and managers of cooperative societies in Nigeria. The workshop, held at the Federal Cooperative College in Kaduna, marked the beginning of a new era for cooperative societies in Nigeria.

The Cooperative Reform and Revamp Programme for the Renewed Hope Agenda
The Minister emphasized that the government is serious about overhauling the system through its reform and revamp program to play its role in achieving President Bola Ahmed Tinubu’s Renewed Hope Agenda. This program aims to bring innovation, restore confidence, and promote socio-economic development in Nigeria.

Key Reforms
The government’s reform agenda includes:

• Review and Amendment of the Nigeria Cooperative Act and Policy: Aligning it with global best practices and local realities.
• Development of a Comprehensive Regulatory Framework and Operational Guidelines: Ensuring compliance and due diligence in cooperative management.
• Robust Stakeholder Mapping and Analysis: Guaranteeing participation and representation.
• Human Capital Development: Providing training and capacity-building programs for cooperative leaders and managers.

A Call to Action
The Minister commended the efforts of the Provosts of the Federal Cooperative College, Kaduna, and the Federal College of Agricultural Produce Technology, Kano, for kick-starting the educational initiative. He also acknowledged the efforts of the Federal Cooperative Colleges in Ibadan, Oyo State, and in Oji-River, Enugu State, for planning similar intensive training workshops.

A Brighter Future
As the government embarks on this ambitious reform agenda, cooperative societies in Nigeria can look forward to a brighter future. With the elimination of fake and corrupt societies, cooperative members can trust that their investments are safe and that their societies are operating efficiently and effectively.

The Federal Government’s commitment to revamping cooperative societies is a welcome development that will promote socio-economic development, restore confidence, and ensure that cooperative societies operate in the best interests of their members.