The minister of State for Agriculture and Food Security, Aliyu Sabi Abdullahi, has described cooperative reform and digitalisation as critical tools for accelerating agricultural productivity and driving economic development in the country.
The minister stated this on Monday in Lagos while declaring open the Western Zonal Ministerial Advocacy Tour involving states in the region.
Abdullahi said the federal government was committed to repositioning the cooperative sector through reforms aimed at improving efficiency, accountability and sustainability, stressing that the renewed focus on cooperatives aligned with the Renewed Hope Agenda of President Bola Ahmed Tinubu.
He disclosed that plans were underway to establish a professional cooperative body similar to other recognised professional associations in the country, noting that the initiative would strengthen operations within the sector and enhance public confidence.
According to him, the integration of digital technology into cooperative activities would help eliminate fraud, reduce loan defaults and improve access for members across the world.
“With digitalisation, the fear of loan defaults and other irregularities will be greatly reduced. The digital era will help us track transactions properly and ensure transparency in the system,” he said.
The minister explained that the government intended to integrate the National Identity Number (NIN) into cooperative operations to strengthen accountability and make it easier to monitor participants and credit beneficiaries.
He added that cooperative societies remained a major economic pillar globally and could play a significant role in poverty reduction and economic empowerment in Nigeria if properly managed.
“Our duty is to support President Tinubu in succeeding with the Renewed Hope Agenda. Cooperative societies are globally recognised as strong economic pillars capable of sustaining individuals and communities, especially in difficult times,” he stated.
Abdullahi noted that the administration was working towards reviving the Cooperative Bank as part of broader efforts to stimulate grassroots economic development and improve financial inclusion.
He said the proposed cooperative structure would operate as a professional body with certified operators, while efforts would also be made to introduce cooperative education at the primary school level to deepen awareness among young Nigerians.
“The ownership of the Cooperative Bank will belong purely to members. The government’s role will only be to provide a conducive environment for it to operate effectively,” he added.
The minister further said the advocacy tour was designed to sensitise more Nigerians on the importance of cooperatives, particularly within the agricultural sector, where access to finance and group support remained essential for growth.
Drawing comparisons with countries such as Switzerland, where cooperative banking systems have contributed significantly to economic stability, Abdullahi expressed optimism that Nigeria could achieve similar success through sustained reforms and digital innovation in the sector.
