The Ekiti State Government is set to commence the review process of the State Cooperative Law, which governs the operations of cooperative societies within the state.
Mrs Omotayo Adeola, the State Commissioner for Trade, Industries, Investment and Cooperatives, made this disclosure during a meeting with representatives of cooperative societies in Ado-Ekiti.
She stressed the government’s commitment to formulating policies and programmes that enhance the financial stability of cooperative societies, ensuring their proper management and sustained financial viability.
While noting the crucial role played by cooperative societies in the economic development of any society, she revealed that the Ekiti State government would soon fulfill its promise to inject one billion naira into the cooperative sector.
Mrs Adeola urged cooperators to repay their outstanding loans within the stipulated time to enable more members of various cooperative societies to benefit.
Stressing the present administration’s dedication to supporting cooperative societies for optimal functionality, Adeola assured that her ministry would provide training for cooperators engaged in business enterprises.
Adeola advised the leadership of cooperative societies to collaborate with the ministry’s staff overseeing their operations. She reiterated the government’s focused efforts on promoting infrastructure development to attract investors who would drive small and medium enterprises in the state.
Expressing appreciation on behalf of the invited cooperative societies, Mr Clement Adewumi, the President of the Mother Union of Cooperative Societies in the State Public Service, commended Governor Oyebanji for his efforts in repositioning the trade, industry, and cooperative sectors.
He acknowledged the governor’s initiatives aimed at improving the conditions of cooperators in the state and pledged the full support of his union to the Ekiti State Government.