Lagos State Governor, Mr. Babajide Sanwo-Olu, has called on cooperative societies across the country to expand their roles in driving economic resilience, financial inclusion, job creation and national development.
The Governor made the call at the opening ceremony of the 10th National Conference of the Institute of Co-operative Professionals of Nigeria (ICOPRON), held in Alausa, Ikeja. His address was delivered by the Permanent Secretary, Lagos State Ministry of Commerce, Cooperatives, Trade and Investment, Mr. Babatunde Onigbanjo.
Sanwo-Olu noted that millions of Nigerians, including traders, artisans, farmers and small business owners, depend on cooperative societies for business financing, property acquisition and other economic needs. He urged cooperatives to move beyond their traditional savings and credit functions to become stronger institutions capable of financing productive enterprises, supporting agriculture and creating employment opportunities.
With the conference themed, “Strengthening Nigerian Cooperatives for Economic Resilience, Financial Inclusion and National Development: The Role of Stakeholders,” the Governor described the discussions as essential to national economic priorities.
He highlighted the Lagos State Government’s T.H.E.M.E.S+ Development Agenda and the Lagos State Access to Finance for SMEs through Cooperatives (LASMECO) initiative as key interventions designed to improve access to finance, strengthen agricultural production and enhance food security.
The Governor also stressed the need for improved governance, accountability, ethical practices and sound financial management within cooperative societies. He encouraged ICOPRON to promote professional competence and embrace technology through digital record-keeping and transparent accounting systems.
In a goodwill message, the Minister of Agriculture and Food Security, Senator Dr. Aliyu Sabi Abdullahi, represented by the Ministry’s Regional Director, Mrs. Temitayo Alao, commended ICOPRON for its advocacy and capacity-building efforts. He reaffirmed the Federal Government’s recognition of cooperatives as important partners in achieving food security and economic diversification, pledging continued support for policies that strengthen the sector.
Earlier, the Chairman of the National Organising Committee, Dr. Okoreaffia Okafo, appreciated members of the national and local organising committees for their efforts despite logistical challenges. He described the 10th edition as a special gathering that brought together government regulators, cooperative federations, academics, NGOs and policymakers, urging participants to contribute meaningfully to discussions on strengthening the cooperative movement.
The National President of ICOPRON, Dr. Olubunmi Adebayo Fajobi, disclosed that the Institute had evolved from a regional association into a national professional body with chapters across Nigeria’s six geopolitical zones and the Federal Capital Territory.
He revealed that ICOPRON had secured endorsement of its professional mandate from the National Council on Cooperative Affairs in Nigeria, trained over 2,500 cooperative officers and developed a common accounting model compliant with International Accounting Standards Board (IASB) and International Financial Reporting Standards (IFRS) requirements for cooperative societies.
Dr. Fajobi acknowledged the mentorship and support of the Minister of State for Agriculture and Food Security, Senator Dr. Aliyu Sabi Abdullahi, describing him as a major pillar of the Institute. He urged members to support its ongoing charter and transformation agenda, noting that the next phase of its development would focus on securing a charter and achieving further institutional transformation.
Also speaking, the Director of Cooperative Services in Lagos State, Mr. Segun Odedina, welcomed delegates to Lagos and congratulated newly inducted members, including fellows and students, wishing them success in their professional careers.
A major highlight of the conference was the unveiling and launch of three key publications aimed at guiding cooperative professionals nationwide. They included the Institute’s History Book, presented by Dr. Justina Otelukpo; the Code of Ethics and Professional Conduct, introduced by the Registrar, Dr. Dickson Azubike Okolo; and its professional journal, The Nigerian International Cooperative Review.
The conference concluded with Governor Sanwo-Olu formally declaring the 10th National Conference open and launching the Institute’s operational publications, reinforcing Lagos State’s commitment to strengthening cooperatives as drivers of economic growth, financial inclusion and national development.