WABOTAN Cooperative Celebrates 2023 #CoopsDay with a Public Lecture

…Organises Public Lecture to create awareness among members and the public

…Members were encouraged to imbibe savings and investment habit

...Increases its Share Capital to NGN20 Milion

Cooperatives are people-centered enterprises, owned by their members and controlled by them to meet their economic, social, and cultural needs and aspirations. They are enterprises based on ethics, values, and principles. Through self-help and empowerment, reinvesting in their communities, and concern for the well-being of people and the world in which we live, cooperatives nurture a long-term vision for sustainable economic growth, social development, and environmental responsibility.

Recognizing these facts and much more, the United Nations declared 29 years ago that the first Saturday in July every year should be celebrated globally as International Day of Cooperatives with the sole aim of creating awareness, promoting and showcasing the benefits derived from being in a cooperative and what he does to support communities, helping to achieve the Sustainable Development Goals (SDGs).

In advancement of this noble cause, the Waterfront Boat Owners and Transporters Association (WABOTAN) Cooperative Multipurpose Society Limited organized a Public Lecture themed: “Cooperative as a Way of Building Sustainable Wealth in Today’s World” to commemorate the International Cooperative Day celebrations being made around the world to create more awareness about their society’s activities that can increase membership and as well informed their members of the latest development in the society.

Speaking during the event held at the association’s headquarters in Lagos over the weekend, the President of WABOTAN Cooperative Multipurpose Society, Chief Raymond Gold, stated that all shareholders are entitled to not less than 25,000 units and not above 500,000 units. He said, that the society has upgraded its share capital value from N10 million to N20 million, even as he charged members and industry stakeholders to imbibe the culture of savings and investments.

According to Chief Gold, the association which was inaugurated on the 19th of November, 2022, is working towards achieving the first three Goals of the Sustainable Development Goals (SDGs) which are; No Poverty, Zero Hunger, and Good Health & Well-being.

He, however, added that the society has embarked on a Food Share programme where it would partner with local food manufacturers and farmers in providing food items and livestock for members to buy at cheap prices below market rate.

The Cooperative President said the group has started engaging food manufacturers such as; Flour Mills of Nigeria and others to serve as distributors in order to create wealth for the society and also provide basic food items for its members. Other initiatives of the society include Assets acquisition and Empowerment programmes for members amongst others.

Chief Gold encouraged prospective members of the society, adding that it is also open to other stakeholders who have related businesses with the activities of the association.

He noted that the registration fee for boat owners is N10,000 while other relevant stakeholders and members such as fishermen and boat operators will pay N5,000 to join the Cooperative Society.

While delivering a keynote lecture themed: “Cooperative as a way of Building Sustainable Wealth in Today’s World”, the Apapa Area Office Assistant Chief Registrar of Cooperative, Mrs. Adebukola Ajiroba elucidated on the importance of savings and investments amongst members of the Cooperative society.

Mrs. Ajiroba noted that the activities of the cooperative society are aimed at providing dividends, empowerment, food security, and nutrition for members.

While encouraging the executives of the Cooperative Society to be transparent in their activities, she informed them that there are several loan benefits from the state government to eligible Cooperative Societies and their members.

On his part, the National President of WABOTAN, Comrade Babatope Fajemirokun urged all members to seize the golden opportunities provided by the cooperative society for their financial empowerment and wealth creation.

He also promised that under his leadership the association will continue to give the Cooperative Society its support for human capacity development.

The Chairman, Board of Trustees (BoT), WABOTAN Cooperative Society, Comrade Paul Ngwan enjoined all members to preach the benefits of the society to other boat operators and stakeholders at the various jetties in Lagos and beyond. He also urged them not only to depend on the shares but pull resources together to ensure the society becomes very buoyant and profitable.

Also speaking, a member of the BoT, Comrade Owolabi Omotayo called for the full support of the Lagos State Government to provide incentives and loan benefits to members of the society.