Published On: Wed, Jun 30th, 2021

Lagos Revalidates 2,359 Cooperatives Societies

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News Investigators/ The Lagos State Government says it has revalidated 2,359 cooperatives societies with a membership of two million and an asset base of million N33 billion.

The Commissioner for Commerce, Industry and Cooperatives, Lola Akande made this known while addressing newsmen on Tuesday in Lagos.

Mrs. Akande said this was the state’s plan to commemorate the International Day of Cooperatives slated for June 29 to July 4.

The commissioner added that the ministry had between June 2019 and June 2021 registered 969 cooperative societies, a move which translates to reduction of poverty.

She noted that the new Cooperative Law had been passed by the Lagos State House of Assembly and was presently awaiting the consent of the Gov. Babajide Sanwo-Olu.

The commissioner said that the ministry had worked with the Ministry of Justice to review the cooperative law to produce an adequate law that encapsulates cooperative activities.

Mrs. Akande said the move was to also meet out commensurate and appropriate sanctions to those who flout the law to serve as a deterrent.

The commissioner noted that the theme of the celebration was in consonance with today’s reality of the ravaging effects of the COVID-19 pandemic and the need to mitigate the devastation.

She said the state, in line with reinvesting in and concern for its communities, cited the ‘Concern for Community’ projects at Ikorodu, Lagos Mainland and Ajeromi – Ifelodun areas as part of the 2020 International Cooperative Day celebration.

She also said the cooperative had been able to rise above the challenges occasioned by the COVID-19 pandemic.

“Lagos State Cooperatives have shown

strength and resilience in this tough times and have been able to give succor to cooperators across the length and breadth of the state.

“Hence, the Y2021 International Day of Cooperatives is also an opportunity to showcase the achievements of cooperative societies in the state.

This is with a view to motivating other societies to work for successful achievements and establishment of more cooperative societies.

“The plethora of activities for this year’s International Cooperatives Week celebration starts from June 29 and ends July 4.

Akande said some of the notable activities include the commissioning of concern for community at Ibeju Lekki, Badagry and Ikeja, panelists sessions, and exhibition of Micro, Small and Medium Enterprises (MSME) cooperator.

The News Agency of Nigeria reports that the International Day of Cooperatives is celebrated on the first Saturday of July as established by the International Cooperative Alliance (ICA) and embraced by the UN.

This year’s celebration, themed: “Rebuilding: Better Together” scheduled for July 3 will be the 27th celebration of the International Day of Cooperatives.

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