Stakeholder’s Moves to Review the Nigerian Cooperative Societies Acts

The Federal Department of Cooperatives under the aegis of the Federal Ministry of Agriculture and Rural Development (FMARD) and some major stakeholders brainstormed in Abuja over the last weekend to review existing laws that govern the Cooperative sector in Nigeria.

The review covers Cooperative Development Act Cap C.27. LFN; the Nigerian Cooperative Societies Act Cap N.98, LFN, 2004 and the Cooperative Development Policy.

They are also deliberating on a bill prepared to provide legal backing for the National Center for Cooperative Development (NCCD) in Sheda, Kwali Area Council and the proposed regulations to be adopted by the Federal Department of Cooperatives.

At the opening of the cooperative stakeholder’s engagement workshop in Abuja, themed, “Repositioning the Cooperative Sector to Sustainably Drive Nigeria’s Social and Economic Development”, The Permanent Secretary, Federal Ministry of Agriculture and Rural Development, Dr. Ernest Umakhihe said for the cooperative sector to sustainably participate in developing Nigeria, it must be focused, inward-looking, harness resources available within Nigeria and carry along policy makers, policy implementers, and other stakeholders within the three tiers of government.

According to the director of the Federal Department of Cooperatives, Engr Abubakar Jibril, the theme of the workshop was crafted to re-awaken the cooperatives to the need to join the journey towards achieving all the Sustainable Development Goals.

He said, “With the declaration of a state of emergency in food security by the present administration, the challenge is on us to show our relevance and potency to contribute to Mr. President’s achievement of the objective of the state of emergency in food security and other national development.