The Lagos State Government has reaffirmed its commitment to repositioning cooperative societies as key drivers of economic growth and national development. The state described cooperatives as strategic institutions that must evolve to support modern economic realities.
Eko Hot News reports that the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Bada Ambrose-Medebem, made the disclosure during the Ministerial Advocacy Tour on Cooperative Bank of Nigeria Share Capital Mobilisation and Cooperative Sector Digitalisation Drive held in Lagos.
The advocacy programme was organised by the Federal Ministry of Agriculture and Food Systems as part of efforts to strengthen cooperative operations and encourage wider participation in the sector. The event also focused on promoting technology-driven reforms within cooperative administration.
Speaking at the event, Ambrose-Medebem stated that Lagos State has already embraced policies aimed at modernising the cooperative ecosystem. According to her, the government is focused on building a transparent, sustainable, and investment-ready cooperative sector.
She explained that the state’s strategy goes beyond traditional thrift and credit activities. The Commissioner noted that Lagos is positioning cooperatives to contribute meaningfully to industrial growth, food systems, employment opportunities, and inclusive prosperity.
Ambrose-Medebem highlighted digital transformation as one of the most significant reforms introduced by the state government. She said the digitisation of cooperative administration is improving efficiency, strengthening accountability, and enhancing access to reliable data.
According to her, technology integration is gradually removing operational delays and improving record management across cooperative societies. She added that the reforms are helping cooperatives adapt to modern governance standards and future economic demands.
The Commissioner also stressed that smart governance systems powered by innovation and automation are essential for the long-term success of cooperative institutions. She noted that digital inclusion remains central to Lagos State’s cooperative development agenda.
She further explained that the Renewed Hope Cooperative Reform and Revamp Programme (RH-CRRP 2025–2030) presents a major opportunity to align cooperative reforms nationwide. The programme is designed to create a unified framework for sustainable cooperative growth across Nigeria.
Ambrose-Medebem stated that the proposed seven-pillar operational strategy under the reform programme covers policy reform, financial inclusion, technology adoption, human capital development, and grassroots empowerment. She affirmed that Lagos State fully supports the initiative.
Also speaking at the event, the Minister of State for Agriculture and Food Systems and Supervising Minister for Cooperative Affairs, Senator Aliyu Sabi Abdullahi, described the advocacy tour as an outcome of resolutions reached during the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja in March 2026.
The Minister explained that the meeting approved the Renewed Hope Cooperative Reform and Revamp Programme to strengthen cooperative institutions nationwide. He noted that the programme is expected to drive sustainable growth and deepen economic participation across communities.
Senator Abdullahi added that beginning the Cooperative Bank of Nigeria Share Capital Mobilisation and Sensitisation Tour in the South-West was symbolic. According to him, the region holds historic significance in the development of cooperative societies in Nigeria.
He described the initiative as another major milestone for the cooperative movement, noting that stronger financial structures and digital reforms will improve the capacity of cooperatives to support economic progress.
Stakeholders at the event also emphasized the importance of collaboration between government agencies, financial institutions, and cooperative societies to ensure successful implementation of the reforms.
The Lagos State Government maintained that cooperative societies remain important tools for empowering citizens, supporting businesses, and promoting sustainable economic development. Officials expressed confidence that ongoing reforms will strengthen public trust and expand opportunities within the sector.
As digital transformation continues to shape the future of commerce and finance, Lagos is positioning its cooperative ecosystem to remain competitive, transparent, and capable of supporting long-term economic prosperity.
