Tangele East Union Unveils Cooperative Society In Abuja

Magdalene Ukuedojor
Sep, Tue, 2025

Community

Tangele East union unveils cooperative society in Abuja

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By Perpetua Onuegbu

The Tangele East Progressive Union (TEPU) of Gombe State has launched the TEPU Abuja Cooperative Society Limited to promote collective prosperity, empowerment and community development.

Speaking at the event in Abuja, Mr Edward Lametek, a former Deputy Governor of the Central Bank of Nigeria (CBN), said cooperative societies stimulate local markets and foster social cohesion.

Lametek, who spoke on the theme “Empowering Members and Enhancing Our Community,” said the cooperative would address the everyday struggles of ordinary people who often lack access to affordable credit.

“The cooperative is our organised response to today’s challenges, built on a solid foundation of trust, shared responsibility and collective action.

“This is more than a ceremony; it is the beginning of a journey towards shared progress and resilience,” he said.

Citing 2019 statistics from the National Bureau of Statistics (NBS), Lametek noted that Nigeria had no fewer than 240,000 cooperatives, with the South-West accounting for 53 per cent, while the North-East trailed with only three per cent.

He said the TEPU Abuja Cooperative was, therefore, a timely response to bridging that gap, adding that it would foster financial inclusion, collective bargaining power, skills development and knowledge sharing.

He said it would also stimulate local economic growth, reduce poverty, support community projects and curb rural-urban migration by creating opportunities at home.

Dr Jarida Doji, Chairman of TEPU Abuja Branch, said the cooperative reinforced one of the vital building blocks of national cohesion.

“When a community is financially empowered, socially responsible and united in vision, it becomes an anchor of stability for the nation.

“Through financial inclusion, youth empowerment and collective ownership, this cooperative becomes a platform for peace, security and sustainable progress,” Doji said.

He expressed optimism that the cooperative, which started with a seed fund of N20 million in 2024, would expand its capital base to N150 million and attain the status of a microfinance bank in the coming years.

Also speaking, the Chief Unveiler, Sen. Anthony Yaro (Gombe South), said the cooperative was designed to empower rural citizens and create wealth at the grassroots.

“It’s a programme that will touch the grassroots, the poor and the middleclass, so they can upgrade from the level they are now to a better position,” Yaro said.

Chairman of the event, Dr Jerry Danmara, Managing Director of Mesotho Group Limited, said the cooperative would help rural dwellers achieve food security, access healthcare and fund their children’s education.

He encouraged members to save with the cooperative to enable them access credit in times of need and urged the society to venture into other businesses to ensure sustainability. (NAN)(www.nannews.ng)

Edited by Tosin Kolade

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