By Felicia Imohimi
The Cooperative Federation of Nigeria (CFN) on Thursday reaffirmed its commitment to support the Federal Government in repositioning the cooperative sector for global competitiveness.
Mrs Hannatu Mershak, President of CFN, made the pledge at the 8th Regular Meeting of the National Council of Cooperative Affairs (NCCA) in Abuja.
The meeting was convened by the Federal Department of Cooperatives (FDC) under the Federal Ministry of Agriculture and Food Security (FMAFS).
The News Agency of Nigeria (NAN) reports that the meeting is themed: “Revitalising Nigeria’s Cooperative Sector: A Catalyst for Inclusive Growth and Sustainable National Development under the Renewed Hope Agenda.”
Mershak said the federation was encouraged by the Federal Government’s renewed commitment to repositioning the sector as a key driver of the national economy.
She noted that the move aligns strongly with the aspirations of the Renewed Hope Agenda, which prioritises inclusivity, food security, job creation and sustainable development.
According to her, the cooperative movement remains a powerful instrument for grassroots mobilisation, poverty reduction and economic empowerment.
She added that cooperative societies provide access to finance, enhance agricultural productivity, create employment opportunities and strengthen community resilience nationwide.
“In many rural and underserved communities, cooperatives are not just economic entities; they are lifelines,” she said.
While acknowledging progress made in repositioning the sector, Mershak highlighted key challenges, including governance issues, limited access to affordable finance, inadequate digital integration, weak regulatory frameworks and low awareness among potential members.
She emphasised that addressing these challenges requires bold reforms, innovative approaches and sustained collaboration among stakeholders.
Mershak said the meeting provided an opportunity to review existing policies and frameworks, strengthen institutional capacity and leadership, and promote transparency, accountability and good governance in the sector.
She added that it would also help to leverage technology for improved efficiency and expansion, as well as enhance partnerships among government, the private sector and development partners.
According to her, the meeting’s theme reflects a clear understanding of the vital role cooperative societies play in promoting economic resilience, social equity and national development. (NAN)www.nannews.ng
Edited by Tosin Kolade
