Lagos State Cooperative Societies Capital Base Increased to N33 Billion

In a press conference held today, Lagos state commissioner for commerce, industry, and cooperatives, Dr Lola Akande revealed that the capital base of the 2359 cooperative societies in the state has increased to N33 billion.

In addition, she noted that the cooperative insurance scheme has made a payment of N50,702,337.

Focusing on the achievements so far, she said 247 new cooperatives were registered, 807 annual accounts approved with 410 mediations, and 1693 routine inspections conducted in the last year.

In addition to this she said: "As part of efforts to ensure best practices, the ministry is championing that the course of Lagos state cooperative college is accredited by the National Board for Technical Education (NBTE) to run a national diploma in cooperative economics, management, microfinance, and entrepreneurship development."

“I am very happy that we have organized several capacity-building programmers’ for our 4000 cooperators,” said Akande.

Akande added that the college from time to time has organized various human capacity-building programs for over 4000 cooperators in the state.