Cooperative education, management crucial for MSMEs growth – Sanwo-Olu
By Oluwatope Lawanson
The Lagos State Government has reaffirmed commitment to cooperative education and management in recognition of cooperative societies ‘ critical role in nurturing nano, Micro, Small, and Medium Enterprises (MSMEs).
Sanwo-Olu made the reaffirmation at the Second Convocation Ceremony of the Lagos State Cooperative College (LASCOCO), on Wednesday in Agege.
The event had the theme: “Cooperative Management: The Development and Transformation of Nano Enterprises in Lagos State”.
Sanwo-Olu was represented by the state Commissioner for Commerce, Cooperative, Trade and Investments, Mrs Folashade Ambrose-Medebem.
He said that nano and MSMEs were drivers of the economy of the state.
“As a government, we recognise that unlocking the full potential of these enterprises is pivotal to realising our THEMES Plus Agenda,” he said.
The governor said that the enterprises constituted over 70% of commercial activities in Lagos.
He said that the enterprises faced structural barriers to growth.
According to him, the barriers include limited access to finance, inadequate skills, and exclusion from formal markets.
He said that cooperatives provided a bridge to overcome the barriers.
“The Lagos State Cooperative College occupies a strategic position in this ecosystem.
“Through continuous training, the college equips cooperative leaders and MSMEs with the tools to transform survivalist ventures into sustainable enterprises,” Sanwo-Olu said.
He highlighted the state’s initiatives to support cooperatives, including Five Billion Naira Nano Enterprise Fund, cooperative digital hubs, and public-private partnerships to provide accessible technology and financing solutions.
The governor urged the graduands to use their knowledge and skills to ignite change, foster entrepreneurship and build resilient communities.
“Every nano enterprise you nurture, every cooperative you strengthen, contributes to the larger tapestry of economic prosperity of Lagos,” he said.
The governor congratulated the graduands and praised the leadership of the state Ministry of Commerce, Cooperatives, Trade and Investment, and the management of LASCOCO for much efforts.
Sanwo-Olu noted that LASCOCO had achieved full accreditation of its programmes.
He added that the college had forged strategic collaborations and provided technical and vocational training for youths, contributing significantly to building a resilient workforce for a 21st Century economy.
The News Agency of Nigeria (NAN) reports that 153 persons graduated from the college at the event.
Eighteen graduated with distinction and 67 with upper credit, while 54 had lower credit and 18, pass.
Five distinguished personalities were given honorary awards at the ceremony.
They include a former Vice Chancellor of Lagos State University, Prof. Lanre Fagbohun, and Lagos State Deputy Chief of Staff, Mr Sam Egube.
The highpoint of the event was inauguration of an Information and Communication Technology Compliance Building of LASCOCO, by the governor.
The governor said the well-equipped building and air-conditioned classrooms would empower students with practical skills.
He described the facility as a milestone toward educational advancement and economic empowerment. (NAN) (www.nannews.ng)
Edited by Ijeoma Popoola
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