Cooperative sector can drive Nigeria’s economy — Minister

The Minister of State for Agriculture and Food Security, Aliyu Sabi Abdullahi, has harped on the need to boost the cooperative sector as it has the potential to drive Nigeria’s economy.

He made this known during the flag off a national intensive training workshop for trustees, management committees, and managers of cooperative societies in Nigeria.

The training, held at the Federal Cooperative College in Kaduna, is aimed at providing cooperative leaders with the necessary skills and knowledge to effectively manage and lead their societies.

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According to Abdullahi, the cooperative sector has the potential to drive economic growth, social development, and community empowerment.

He emphasised that the training was part of the Renewed Hope Agenda for the cooperative sector, which aims to revitalize and reform the sector.

He said “According to the International Cooperative Alliance (ICA), over 12% of the global population is engaged in one of the 3 million cooperatives worldwide. Cooperatives are vital for sustainable economic growth, providing stable employment and work opportunities for 280 million people, which accounts for about 10% of the world’s workforce. The largest 300 cooperatives and mutuals generate a total turnover of $2.4 trillion, as reported by the World Cooperative Monitor (2023).

“With the above statistics, the Renewed Hope Administration of President Bola Ahmed Tinubu GCFR recognizes cooperative societies’ crucial role in driving economic growth, social development, and community empowerment.

“Hence, the priority is given to reforming and revamping the sector. Indeed, this is one of his campaign promises and we are actualising it with vigour and a patriotic sense of duty and obligation to our citizens.

“To meet the expectations of revitalising the sector, we are committed to providing capacity-building and development opportunities for cooperative society leaders and managers in the 36 States of the Federation including the FCT. This training flag-off is a testament to that commitment.”

In his welcome address, the Provost of the Federal Cooperative College, Kaduna, Dr. I. M. Awwal, noted that cooperatives management has been discovered to be a very important sector of our economy if managed well.