Mr. Babajide Olusola Sanwo-Olu, the governor of Lagos State, has reaffirmed his administration’s commitment to helping cooperative societies boost their production in order to better support the state’s effort to transform Lagos into a 21st-century economy.
At the luncheon/merit award ceremony conducted in Ogba to mark the centennial observance of the International Day of Cooperatives, the governor said, “As a result of consistent commitment to its fundamental philosophy, cooperative movements have become a veritable tool in the fight against poverty and unemployment while also encouraging social integration”.
Sanwo-Olu made the observation while being represented by the Secretary to the State Government, Mrs. Folashade Jaji, that cooperative movements around the world empower residents to take ownership of their economic, social, and environmental prosperity.
Speaking on the event’s theme, “Cooperatives Build a Better World,” the Governor noted that it focuses on laying out a path for an innovative and sustainable business ecosystem that gives the private sector, public authorities, and consumers the tools and inputs they need to develop new businesses.
The Honourable Commissioner for Commerce, Industry and Cooperatives, Dr. (Mrs.) Lola Akande, stated in her contribution that the International Day of Cooperatives (IDC) is an opportunity to raise awareness of important issues, mobilise political will and funding to address global issues, and celebrate human accomplishments.
The Luncheon/Merit Award was established to recognise cooperatives and cooperators who have served their respective societies and communities diligently and conscientiously, Mrs. Akande said, adding that the annual celebration strengthens and expands partnerships between the International Cooperative Movement and other organisations of social development.
She pointed out that this year’s theme supported the fourth pillar of the T.H.E.M.E.S Development Agenda, “Making Lagos State A 21st Century Economy,” which aims to promote homegrown business and locally produced items.
The Commissioner said that in order to foster prosperity in the State, Governor Babajide Sanwo-government Olu’s has kept up its efforts to build favourable environments through financial reforms, accessible housing, food security, empowerment, and social-economic interventions.
“The celebration is a testimony to the determination of Governor Sanwo-Olu’s administration to support every genuine effort and move that could promote the capability of our people in achieving economic and financial prosperity for all and sundry”, Dr. Akande stated.
The Lagos State Cooperative Federation (LASCOFED), which has partnered with the State government in an evolving manner over the years, was also praised by the Commissioner.
In his goodwill speech, Barrister Oladipo Shobule, the president of the Lagos State Cooperative Federation (LASCOFED), stated that cooperative societies have invested in a variety of micro, small, and medium-sized businesses to give Lagosians employment and a means of subsistence. He also emphasised that cooperative societies have given members access to affordable financing.
He claims that the services offered by the Federation have improved the quality of life for the populace and boosted its contribution to Lagos State’s Gross Domestic Product (GDP).
The awarding of prizes to representatives of excellent cooperative societies and unions was one of the event’s highlights.