By Francis Akinnodi
Ondo State Government has called on all stakeholders to come together and build a better cooperative enterprise in the midst of stiff competition from other rivalry competitors especially in the financial sector of the economy.
Commissioner for Commerce, Industry and Cooperative Services, Mrs. Lola Fagbemi made the call during a one day seminar for conventional cooperative societies/unions in all the six cooperative zone of the state.
The event was organised by the Ondo State Cooperative Federation (ODSCOFED) held in Akure.
She said, “Indeed, capacity building is a bedrock for effective and efficient performance in any organization.
“The International Cooperative Alliance (ICA) acknowledged education, training and information as one of the cardinal principles for sustainable cooperative development in the world.
“Building a better cooperative enterprise in a competitive economy is aimed at ensuring that the cooperative enterprise thrive in the midst of stiff competition from other rivalry competitors especially in the financial sector of the economy.
“It was gathered that a number of micro-finance institutions are now operating in the state whose activities are similar to that of cooperative organisations and this calls for serious attention with a view to sustaining the position in the competitive economy.
“This development needs to be curtailed for cooperative enterprise to thrive and develop in tandem with the state government policy objectives for using cooperative platform for wealth generation, employment creation, improved socio-economic lives of members, poverty alleviation and self-help.”
Meanwhile, President of ODSCOFED, Engr Michael Olowoyeye said according to the principle of cooperative, members are continually empowered to make effective and useful contributions to the growth of the cooperatives.
He said the seminar would further tackle some of the challenges facing societies as well as further equip them for better performance.