The Lagos State Cooperative Federation (LASCOFED) has pledged its support to the cooperative sector in Lagos, with the aim of boosting economic growth and alleviating poverty.
Speaking at a four-day joint unions retreat for cooperative societies in Lagos held by the Ikeja Multipurpose Cooperative Union in Lekki, Lagos, the President of Lagos State Cooperative Federation (LASCOFED), Mr. Shobule Oladipo, emphasised the importance of cooperatives in improving social welfare and economic development.
LASCOFED (Lagos State Cooperative Federation Ltd.) has several initiatives aimed at supporting and empowering cooperative societies in Lagos State. Here are some of their key plans:
Agricultural Empowerment Programs: LASCOFED is focusing on agricultural empowerment by hosting programs on mushroom and snail rearing, among other activities. These programs aim to enhance the skills and productivity of cooperative members involved in agriculture1.
Financial Literacy and Capacity Building: They are committed to building capacity within the cooperative movement through continuous education and financial literacy programs. This includes training cooperative account managers and other members to improve their financial management skills1.
Infrastructure Development: LASCOFED is considering partnerships, such as with Startimes, to provide solar power solutions to cooperators. This initiative aims to improve the infrastructure and living conditions of cooperative members1.
International Collaboration: They are engaging in international workshops and study tours, such as hosting Kenyan cooperative delegates, to share knowledge and best practices. This helps in enhancing the capabilities and global outlook of local cooperatives1.
Support for Various Sectors: LASCOFED supports cooperatives across different sectors, including fishery, housing, farming, and transportation. They aim to represent and coordinate these diverse cooperative societies to ensure their growth and development1.
These initiatives reflect LASCOFED’s commitment to promoting and developing the cooperative movement in Lagos State, providing members with the tools and knowledge needed for economic empowerment.
These initiatives reflect LASCOFED’s commitment to promoting and developing the cooperative movement in Lagos State, providing members with the tools and knowledge needed for economic empowerment.
“We are committed to making the cooperative sector a key driver of Lagos’ economy,” Oladipo said.
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He announced plans to establish a cooperative bank to offer financial services to members, stating, “This will help our members access affordable credit and other financial services, enabling them to grow their businesses and improve their lives.”
Oladipo highlighted that these initiatives are aimed at supporting the growth of cooperatives, creating jobs, and enhancing the standard of living for millions of residents.
“Our initiatives will provide grants, rebates, and business support to help cooperatives thrive,” he emphasized.
Stressing the importance of unity and collaboration, the LASCOFED leader further stated, “This is a game-changer for Lagos… The cooperative sector has significant potential for growth and job creation. With LASCOFED’s support, we can expect to see a substantial improvement in the lives of millions of Lagos residents.”
He also announced LASCOFED’s plans to partner with the Lagos State Government to create a conducive environment for cooperatives to flourish.
“We are working closely with the government to develop policies and programs that support the growth of cooperatives. Together, we can make a real difference in the lives of Lagos residents.”
Lanre Ariyo, President of Ikeja Multipurpose Cooperative Union, remarked, “The theme, ‘Cooperatives for Sustainable Economy,’ deeply resonates with the core values that cooperatives uphold: democratic governance, economic participation, and concern for the community. These values are not just ideals; they are practical solutions to some of the most pressing issues of our time.”
Ayo Odukoya, Area Officer for Ikeja Cooperative Area Office under the Lagos State Ministry of Commerce, Cooperative, Trade, and Investments, highlighted the significance of LASCOFED’s support, noting that it will provide cooperative societies with the necessary resources and expertise to thrive.
He emphasized the need for cooperative leaders to conduct feasibility studies, assess risks, and make informed investment decisions to ensure the judicious use of members’ funds. Additionally, he mentioned that the Lagos State government has established bylaws, election guidelines, and operational frameworks to support these efforts.
