Ogun State Governor, Prince Dapo Abiodun, has identified Cooperative societies as dependable tools necessary for building a sustainable micro-economy of any nation, especially in developing economies.
He said the impacts of cooperative societies in the survival and advancement of any nation are huge and indispensable, adding that setting aside a special day for deliberating and discussing their roles should be considered imperative.
The Governor stated while speaking at the 2023 International Day of Cooperatives, held in Abeokuta, the state capital. He was represented by his Deputy Chief of Staff (DCOS), Dr Toyin Taiwo.
“I want to specially congratulate the President, Ogun State Cooperatives Federation Limited, Alhaji Wasiu Babatunde Olaleye, and other Executive members, as well as members of the Organizing Committee of this year’s event and every person who has in one way or the other contributed into making this year edition a reality.
“Suffice it to say, that the theme for this year’s Cooperative Day: ”Cooperatives For Sustainable Development”, is intrinsically instructive, considering the innumerable impacts and contributions of Cooperative Societies to global economies and its involvement in addressing environmental degradation and climate change.
“As you all know, Cooperative Societies have continued to remain a viable tool in building sustainable micro-economy of any nation, especially in developing economies like ours,” Abiodun said.
He stressed that Cooperative societies are key in the development of small and medium-scale enterprises around the world, which steadily and effectively drive the economy and as well sustain it.
The Governor further described Cooperative societies as essential blood that flows in the vein of SMEs without which the whole economic system will collapse.
He reminded members of the societies of the need to be transparent and democratic in their composition and operation, saying the original notion behind the formation of the societies was to voluntarily pool scarce resources together for the promotion of the socioeconomic life of individual members.
According to him, the country and particularly Ogun State need cooperative societies as formidable partners in the area of empowering businessmen and women to attain their optimal potential and also contribute immensely to their immediate communities.
Governor Abiodun, however, enjoined them to support President Bola Ahmed Tinubu in his renewed hope agenda to transform the county, noting that whatever challenge the country is facing now is temporary in preparation for a prosperous future.
”As a Government, we acknowledge this immense contribution of your societies as a dependable partner in our development agenda, which practically predicates on our philosophy of action in Ogun State, “Building Our Future Together’.
“It may interest you to know that here in our dear state, there are over 13,000 registered Cooperative organizations spread across the nooks and crannies of the State, and actively involved in agricultural input sourcing and supply; agricultural produce marketing; micro-insurance service; financial on-lending; road transportation, artisanal mining, value addition, rendering of strategic services, commerce and providing housing to meet needs of members among others.
”Indeed, we have continued to give our unflinching support to commendable strides taken by these Cooperative Societies in our state and their immense contributions towards making businesses flourish.
“Aside from the conducive environment our administration created for ease of doing business, the regular inspection and auditing exercises conducted by government officials on Cooperative Organizations have brought about a reduction in cases of overdue loans and maladministration in Cooperative management, which ultimately guarantee viability.
“In addition to that, moribund Cooperative Societies and Unions are equally being revived while new ones are promoted as we continued to sustain the revolving loans granted to Cooperatives through the Ogun State Cooperative Federation Limited (OGSCOFED) among other strategic interventions.
“I promise you today that we will not rest on our oars. Your mandate will never be taken for granted. In this second term of our administration, we will do more in the areas of job creation, food security, massive infrastructural development, industrialization, youth and women empowerment and overall well-being of our people,” he added.
