The Cooperative Rating and Award Society of Nigeria (CRASoN) has said that the Nigerian cooperative sector has hit N1.8 trillion in savings and N1.3 trillion in loan in spite its challenges.
The President of CRASoN, Mr Victor Oyegoke was speaking at a news conference in Abuja on Wednesday to herald the 6th edition of the Nigerian National Cooperative Awards Symposium and Exhibition slated for Nov.23.
Oyegoke called for the sustainability of the cooperative sector in the country, saying this was necessary to address the challenges facing the sector.
Identifying challenges of the cooperative sector such as lack of comprehensive data, lack of support from states chapters, among others, he said there was need for collaboration to strengthen the sector.
According to him, cooperative is a major contributor to the economy all over the world. It is a veritable tool to alleviate poverty among the masses.
“The lack of comprehensive data has relegated the society. We have over 400,000 cooperative societies but many of them are dormant.
“The government of President Bola Tinubu is keen about the cooperative societies and working towards resuscitating the dormant ones and as such has endorsed what CRASoN is doing to get our data intact.
“CRASoN is complementing what the government is doing in this symposium and master classes. We are going to be training our members and educate them,” he said.
Oyegoke added that the Nigerian cooperative sector is making impact through its contributions in housing, consumer goods and other areas beneficial to its members.
He further said that awards would be given to some key personalities for their contribution in the affairs of the cooperative.
He mentioned that the Minister of Interior, Dr Olubunmi Tunji-Ojo would be awarded as the best performing Minister while calling for synergy among states directors of cooperative to move the society to a greater height.
Also speaking, Omolara Sivenssor, National Coordinator, Nigerian Women for Agricultural Progressive and Development Initiative, charged the society on cooperation and support for members.
Sivenssor said youths, farmers and women must come together and draw from the support given by the government to drive the cooperative initiative.