No fewer than 350 cooperative leaders from across Lagos State gathered to chart a bold digital future at the 2025 LASCOFED Cooperative Leaders’ Conference, held in Lagos recently. They called on all cooperative societies in the state to embrace digital transformation, and adapt to evolving economic and social realities.
The event with the theme: “Cooperatives Build a Better World”, provided a platform for participants representing more than 180 cooperative societies to discuss issues about cooperative development in the state.
Through plenary sessions, workshops, and breakout discussions, cooperative leaders explored opportunities, challenges, and strategies to strengthen cooperative institutions.
Declaring the conference open, the Lagos State Commissioner for Commerce, Cooperative, Trade & Investment, Mrs. Folashade Ambrose Mebedem, represented by the Director at the ministry, Mrs. Ayo Abiodun, praised the cooperative sector’s resilience.
“This gathering is proof that cooperatives remain a vital force in building inclusive economies. We must embrace innovation while staying true to our democratic values,” she said.
ICA-A President, High Chief Oriyomi Ayeola, urged cooperators to become more politically active and to push for government support. “Cooperators must not only participate in governance but also consider elective positions to shape decisions that affect our growth,” he declared.
He also called for the creation of a Cooperative Development Fund and urged continued support for the new CFN leadership under Mrs. Anato Michark.Speakers at the conference highlighted pressing issues facing the movement.
Mr. Lanre Ariyo, speaking on tax reforms, explained that the 2025 tax law could impact profit-oriented cooperatives by treating them similarly to corporate entities, while non-profit cooperatives may enjoy exemptions. He encouraged societies to view the reform as an opportunity for legitimacy and growth rather than a burden. On digital cooperatives, Mr. Hakeem Adeniji stressed the need for societies to embrace fintech and technology-driven systems.
“Digitalisation is not just about efficiency—it creates revenue-driven platforms and makes business easier,” he said, noting that only 45 cooperatives in Lagos currently operate digitally. He emphasized the importance of policy frameworks, data protection, and regular capacity building for both cooperators and regulators.
Dr. David Olatunji, in his presentation on “Rethinking the future of Cooperative Societies”, warned against clinging to outdated practices. “Cooperatives that fail to adapt will be left behind. Investment in financial literacy, modern education, and ethical standards is the only way forward,” he said. He further encouraged partnerships, shared service platforms, and knowledge exchange to strengthen the movement.
Participants agreed that cooperatives must anchor their vision on capacity building, digitalization, youth inclusion, and community impact.
They emphasized that training, education, and partnerships would strengthen sustainability, while adherence to cooperative values through active member participation and compliance with bye-laws would preserve the founding mission. Discussions also highlighted the importance of feasibility studies and rigorous planning for capital projects such as the proposed Cooperative Resort Center, with transparency and accountability identified as essential for member satisfaction.
The conference concluded with a strong commitment to prioritize digital transformation and modern cooperative practices. Delegates resolved that LASCOFED should spearhead the digitalization process, guiding societies through the necessary steps to fully implement the outcomes of the conference. The communiqué also reaffirmed support for the Mojoda land project, described as a “Legacy project,” which will be funded through contributions from all societies.
