20,000 societies to smile as Soludo plans review of cooperative law

20,000 societies to smile as Soludo plans review of cooperative law

Anambra State Governor, Prof Chukwuma Soludo has disclosed his administration’s plans to review the cooperative law targeted at amending and expanding it to make capital available to residents through the medium of cooperatives. 

The governor dropped the hint on Friday in Awka during the celebration of international Cooperative day, themed, “Cooperatives, Partners for accelerated sustainable development.”

Soludo, represented by Commissioner for Industry, Christian Udechukwu reiterated his government willingness to partner with all societies in terms of funding, facilities and market creation.

He also revealed government’s plans to migrate government business online to assist the societies plan properly in order to avoid wastages and losses.

He said, “The current administration is reviewing the cooperative law with a view of amending and expanding it to make capital available to the people of the state through the medium of cooperatives. 

“We want you to multiply your productivity from one hectare to 100 or more. We’re ready to back you up with necessary equipment and funding to expand your productive capacity. 

“I’m aware that there are over 20,000 cooperative societies in the state. That’s good news. That shows our cooperative list is growing.

“We’ve also trained about 4,000 youths under the one youths two skills programme, who are already being integrated into about 400 cooperatives being registered to join the professional cooperatives of the state.

He added, “As a ministry, we’re ready, able and willing to partner with you so you can think through the process and ensure credit facilities being made available by government can be repaid on the agreed time line. 

“We want you to be more ambitious and plan for growth and export because we’re ready for strong, strategic and productive partnership with all the cooperatives in the state. 

“We want you to aggregate yourselves and productive capacity because the current administration is migrating government business online so we can help you plan and to avoid wastages and losses.

“If we know what you’re producing and when you’re harvesting, we can arrange with those who can buy off your produce to meet you at your farm and pay you the amount that is profitable. 

“We’re not only planning to provide you with funds and equipment for you, but to create a market for you. So work towards excellence and productivity.”

Earlier, Director, Cooperative Department in the Ministry, Mrs. Nwabugo Okonkwo described cooperative as a global wheel of economic development, poised to encourage societies.

“Emphasis is being laid continually that membership to a cooperative society is not an avenue for sipping governments fund, but rather a means of assisting one another towards achieving collective goal interest,” she said.

President, National Population Commission (NPC), Staff Multipurpose Cooperative Limited, Dr. Joachin Ulasi praised government for creating the platform, saying it had offered members opportunity to meet up with their financial challenges as well as make investments.

“A lot of us have been able to achieve a lot through cooperatives which ordinarily they would not have been able to achieve. Some have acquired landed property, while others have built houses ahead of retirement,” he said.

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