The Lagos State Government has reaffirmed its dedication to fostering an inclusive and resilient economy by leveraging the power of cooperatives to drive shared prosperity across communities. This commitment was underscored by the Commissioner for Commerce, Cooperatives, Trade and Investment, Folashade Ambrose, during her address at the 2025 International Day of Cooperatives celebration, co-organized with the Lagos State Cooperative Federation (LASCOFED). The event, which also served as an awards ceremony, recognized the exceptional contributions of cooperative leaders and institutions within Lagos State. The theme, “Cooperatives: Driving Inclusive and Sustainable Solutions for a Better World,” resonated deeply with the state government’s T.H.E.M.E.S+ Development Agenda and the Lagos State Development Plan, both of which prioritize grassroots empowerment, small business support, and economic equity, demonstrating a strong alignment between the cooperative model and the state’s overarching development strategy.
Commissioner Ambrose emphasized the integral role of cooperatives in economic inclusion and social transformation. She highlighted the diverse range of cooperative activities, from small community-based savings groups to large-scale agribusinesses, demonstrating the adaptability and scalability of the cooperative model. Cooperatives, she noted, continue to be instrumental in poverty reduction, job creation, and community mobilization, effectively empowering individuals and communities to participate actively in their own economic development. This grassroots approach fosters a sense of ownership and strengthens the social fabric of the state while contributing to broader economic growth.
The President of LASCOFED, Oladipo Shobule, echoed the commissioner’s sentiments in his keynote address, emphasizing the significance of 2025 being declared the International Year of Cooperatives, a momentous occasion marking only the second such declaration in United Nations history. This global recognition, according to Shobule, highlights the profound impact of cooperatives on sustainable development worldwide. He praised the role of cooperatives in Lagos State, where they have become powerful engines for community empowerment, providing access to crucial resources such as finance, education, housing, agriculture, and entrepreneurship opportunities for thousands of individuals.
Shobule further elaborated on the transformative power of cooperatives, highlighting their role as social transformers beyond their economic contributions. By fostering collaboration, shared resources, and democratic decision-making, cooperatives empower communities to address their own needs and build a more equitable and sustainable future. In Lagos, this translates to cooperatives serving as vital platforms for community development, providing access to crucial resources and opportunities that might otherwise be unavailable. This empowerment, in turn, strengthens communities from within, fostering resilience and promoting sustainable growth.
The event served as a platform for diverse stakeholders, including cooperative members, government officials, and development partners, to converge and explore the potential of cooperatives as instruments for inclusive growth and sustainable development. This collaborative approach underscores the importance of partnerships in maximizing the impact of cooperatives. By bringing together diverse perspectives and expertise, the event fostered a dynamic exchange of ideas and best practices, strengthening the cooperative movement within Lagos State and beyond.
The collaborative spirit of the event reflected the very essence of the cooperative model, highlighting its ability to bring together diverse stakeholders towards a common goal. The recognition of outstanding cooperative leaders and institutions further emphasized the importance of leadership and innovation within the cooperative movement. By celebrating success stories and sharing best practices, the event inspired continued growth and innovation within the cooperative sector, ultimately contributing to a more inclusive and prosperous future for Lagos State. This focus on celebrating success and fostering collaboration underscores the state’s commitment to nurturing and supporting the growth of cooperatives as key drivers of economic and social development.
