Victoria Mgbanwa
The Federal Ministry of Agriculture and Food Security (FMAFS) has unveiled plan to restructure and modernize the country’s cooperative sector, aiming to enhance economic growth, job creation, and social inclusion.
At a recent Technical Strategy Session on the Implementation of the Cooperative Reform and Revamp Programme held in Abuja, the Minister of State for Agriculture and Food Security, Sen. Dr. Aliyu Sabi Abdullahi, emphasized the critical role of cooperatives in fostering innovation, entrepreneurship, and poverty reduction. He highlighted that the reforms align with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which seeks to transform Nigeria’s economy into a $1 trillion powerhouse.
“our mission today is to create an enabling environment that fosters innovation, entrepreneurship, and job creation, this aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which prioritizes economic growth and development”. He stated.
A key component of the initiative is the restructuring of the Federal Department of Cooperatives and the enhancement of institutions such as the Federal Cooperative Colleges and the National Centre for Cooperative Development.
According to Abdullahi, these institutions will be strengthened to deliver high-quality training, particularly targeting young Nigerians to equip them for leadership in a modern, people-driven cooperative movement.
Beyond institutional reform, the minister stressed the importance of transparency, accountability, and inclusivity in cooperative management. He noted that globally, cooperatives manage assets worth approximately $19.6 trillion and generate $2.98 trillion in annual revenue, underscoring the sector’s untapped potential in Nigeria.
The session also spotlighted efforts to integrate marginalized groups, including youths, women, and people with disabilities (PWDs), into the cooperative system. Hon. Victor Oyegoke, Special Assistant to the Minister of State on Cooperatives and Farmers’ Welfare, noted that partnerships with international organizations such as the European Union would play a crucial role in fostering inclusivity and expanding opportunities within the sector.
Director of the Federal Department of Cooperatives, Mr. Idris Sani, reaffirmed the ministry’s commitment to creating a vibrant and inclusive cooperative sector. He called for stronger collaboration between the government, private sector, civil society organizations, and cooperative societies to drive meaningful socio-economic transformation.
As Nigeria moves forward with its cooperative reform agenda, stakeholders are optimistic that these strategic initiatives will empower local businesses, enhance food security, and ultimately contribute to a more sustainable and equitable economy.
