Minister inaugurates committee to revamp co-operatives sector

The Minister of State, Federal Ministry of Agriculture and Food Security, Senator Dr. Aliyu Sabi Abdullahi, has inaugurated a Technical Working Group on the reform and revamping of the Co-operatives Sector of the economy.

Penpushing reports that the inauguration took place shortly after the Minister delivered the keynote address at a virtual roundtable of multi-stakeholders in Co-operatives drawn from different parts of the country and the Diaspora.

“We want to have the Co-operative Movement breathing more life and taking its pride of place in our national economy. It is trite that if Co-operatives work, the economy will not just be robust but the economy will be equitable, because Co-operatives have the capacity for proper redistribution of wealth through the activities of Co-operators in the society’, Abdullahi said.

Penpushing further reports that he reminded members of the Technical Working Group of the direct linkage between a revamped Co-operatives Sector and the Eight-Point Agenda encapsulated in the Renewed Hope Agenda of President Bola Ahmed Tinubu.

The Minister pointed out that when Co-operatives are working, they can guarantee a shared value of prosperity, stressing that the Co-operator is good at sharing adding that, that was why he co-operates.

Penpushing also reports that he explained that repositioning Co-operatives will support livelihoods and contribute to the realization of President Tinubu’s Eight-Point Agenda, adding that under cooperatives it is possible for government to support food security.

‘This is because under Co-operatives, it is possible for us to support food security, economic growth and job creation; contribute to inclusivity, where we are able to bring in the women, youth, and even the elderly into the Co-operatives fold, and above all guarantee access to capital, because the mobilizing capacity of Co-operatives is definitely deep and wide’, he stated.

Penpushing reports that the Technical Working Group is tasked with, among other roles, reviewing existing laws and regulations governing Co-operatives in Nigeria, and to make recommendations for repeal or reenactment where appropriate.

The Technical Working Group will equally examine international best practices in Co-operatives development and governance, scrutinize the structure and management capacity of Co-operatives institutions in the country.

Penpushing further reports that it will as well recommend sustainable access to finance, technology, and markets for Co-operatives, rebuilding trust and promoting youth integration and participation in Co-operatives which are also part of the group’s task.

The Group under the coordination of the Special Assistant on Cooperatives and Farmers Welfare in the Office of the Minister of State, Victor Oyegoke, which membership of the Technical Working Group is drawn from Federal and State establishments as well as interest groups in the Co-operatives Sector has 45 working days to submit its report

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