Ekiti govt moves to review cooperative laws

EKiti State Government has said that it will soon begin the review process of the State Cooperative Law, which governs the operations of cooperative societies within the state.

The state’s Commissioner for Trade, Industries, Investment and Cooperatives, Omotayo Adeola, disclosed this during a meeting with representatives of cooperative societies in Ado-Ekiti.

She stressed the government’s commitment to formulating policies and programmes that would enhance the financial stability of cooperative societies, as well as ensuring their proper management and sustained financial viability.

Adeola, while noting the crucial role played by cooperative societies in the economic development of any society, said that the state government would soon fulfill its promise to inject N1 billion into the cooperative sector.

She urged the cooperators to repay their outstanding loans within the stipulated time to enable more members of various cooperative societies to benefit.

Besides, the commissioner advised the leadership of cooperative societies to collaborate [ae ministry’s members of staff overseeing their operations, reiterating government’s focused efforts on promoting infrastructure development to attract investors who would drive small and medium enterprises in the state.

President of the Mother Union of Cooperative Societies in the state Public Service, Clement Adewumi, who expressed appreciation on behalf of the invited cooperative societies, commended Governor Biodun Oyebanji for his efforts at repositioning the trade, industry, and cooperative sectors.