The State Cooperative Law, which sets down the rules governing cooperative societies in the state, is now being reviewed by the State Government of Ekiti.
At a meeting with leaders of cooperative societies in Ado-Ekiti, Mrs. Omotayo Adeola, the State Commissioner for Trade, Industries, Investment, and Cooperatives, made this announcement.
Emphasizing the government’s dedication to formulating policies and programs that enhance the financial stability of cooperative societies, ensuring their proper management and sustained financial viability, she stressed the crucial role played by cooperative societies in the economic development of any society.
She also disclosed the state government’s intention to quickly follow through on its pledge to invest one billion naira in the cooperative sector.
Mrs. Adeola pleaded for cooperators to pay back their outstanding loans within the allotted time in order to increase the number of beneficiaries throughout cooperative societies.
Adeola pledged that her ministry will train cooperative members who are involved in commercial ventures, indicating the current administration’s dedication to fostering cooperative societies for maximum efficiency.
She recommended the leadership of cooperative societies engage with the ministry’s staff overseeing their operations, reaffirming the government’s focused efforts on boosting infrastructure development to attract investors who would push small and medium enterprises in the state.
On behalf of the invited cooperative societies, Mr. Clement Adewumi, President of the Mother Union of Cooperative Societies in the State Public Service, expressed gratitude and complimented Governor Oyebanji on his efforts to realign the trade, industrial, and cooperative sectors.
He commended the governor for taking steps to better the lot of cooperators in the state and assured the Ekiti State Government of his union’s unwavering support.