Economy

Sanwo-Olu celebrates Lagos cooperative societies

… Says Cooperatives’ N152billion Capital Base Is Commendable

The Lagos State Governor has renewed his support to cooperatives societies, saying that the organisation has established itself as a major player in the economy of the State.

Governor Sanwo-Olu also noted that with a capital and membership base in excess of N152 billion Naira and two million respectively, cooperative societies in the State have distinguished themselves as a very viable organisation on a progressive path.

He stated this during the International Day of Cooperatives Award/Gala Nite held recently in Lagos, pledging that the State Government will continue to support the cooperative societies’ in developing innovative strategies that will enhance productivity and increase the prosperity of its members.

He urged the leadership of the various cooperative societies in the State not to rest on their oars considering the fact that the race of excellence, which Lagos is known for, has no finishing line.

Also speaking at the event, the Permanent Secretary Ministry of Commerce, Industry, and Cooperatives, Mrs. Omobolanle Ogunmola described cooperatives as people-oriented associations that prioritise human development and social justice within the workplace.

She said the fact that there is no business organisation with a reasonable number of employees without one type of cooperative society or the other operating among its workforce, even among public institutions, further attests to the importance of the organisation, highlighting that there are a number of events showcasing the contributions of the cooperative movement in the State towards promoting the economic and social growth of the people.

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