FG Pushes Cooperative Revitalisation for Economic Growth

News in brief:

-The Federal Government plans to reform and modernise Nigeria’s cooperative sector to support economic growth and food security.

-A new Renewed Hope Cooperative Reform and Revamp Programme aims to address governance, financing and regulatory challenges.

The Federal Government of Nigeria recently pledged to revitalise the cooperative sector as part of efforts to strengthen food security, create jobs and promote inclusive economic growth. Aliyu Abdullahi, Minister of State for Agriculture and Food Security, pledged during the 8th Regular Meeting of the National Council on Cooperative Affairs held in Abuja.

The meeting was held under the theme Revitalising Nigeria’s Cooperative Societies: A Catalyst for Inclusive Growth and Sustainable National Development under the Renewed Hope Agenda. It was organised by the Federal Ministry of Agriculture and Food Security through its Federal Department of Cooperatives.

Key Challenges Facing the Cooperative Sector

Abdullahi, who also supervises cooperative affairs in the country, said revitalising the sector is essential to addressing longstanding structural challenges and unlocking its full potential.

He identified major challenges confronting cooperative societies to include weak governance systems, outdated policies and legal frameworks, poor data management and underfunding.

Other issues, he noted, include limited digital adoption, exclusion from mainstream financial opportunities, fragmented operations across states and inadequate training for cooperative leaders, managers and regulators.

The minister also highlighted the absence of an inclusive and coordinated programme-based development approach as another major constraint.

Cooperatives Critical to Economic Development

According to Abdullahi, strengthening the cooperative sector is urgent if the country is to achieve food security, reduce poverty and expand economic opportunities.

He described cooperatives as one of Nigeria’s most powerful people-driven economic systems.

“Cooperatives remain one of Nigeria’s most powerful people-driven economic engines,” he said.

“They are the backbone of food production and distribution, rural and community development, housing and microfinance systems, transportation and market organisation.”

The minister added that cooperatives also support youth, women and persons with disabilities, while sustaining the growth of micro, small and medium enterprises.

Renewed Hope Reform Programme Introduced

Abdullahi disclosed that the ministry had developed the Renewed Hope Cooperative Reform and Revamp Programme (RH-CRRP) to address sectoral challenges.

According to him, the programme is structured around seven strategic pillars designed to reposition Nigeria’s cooperative movement for the 21st century.

The pillars include governance improvements, legal and regulatory reforms, enhanced cooperative financing mechanisms and expanded funding opportunities.

He described the council meeting as a critical platform for shaping the future of cooperative development in Nigeria.

Ministry Highlights Strategic Role of Cooperatives

Also speaking, Marcus Ogunbiyi, Permanent Secretary of the ministry, said efforts were underway to reposition cooperatives as a strategic driver of national development and food security.

Represented by the Director of Planning and Policy Coordination, Ibrahim Tanimu, Ogunbiyi said cooperative societies are central to delivering the Renewed Hope Agenda of President Bola Ahmed Tinubu.

He explained that the council serves as a key platform for policy coordination and stakeholder engagement to strengthen the cooperative movement.

“It is expected that council members will consider policies based on core cooperative values such as honesty, openness, social responsibility and care for others, and adopt resolutions that align with the objectives of the meeting,” he said.

Ogunbiyi added that the success of the revitalisation efforts would depend on collective commitment, professionalism and objective decision-making.

The News Agency of Nigeria reports that the council includes commissioners responsible for cooperative affairs from the 36 states of the federation.