Lagos State Governor, Babajide Sanwo-Olu, has urged graduates of the Lagos State Cooperative College (LASCOCO) to spearhead the transformation of nano enterprises across the state through cooperative management, describing the model as a catalyst for inclusive growth and grassroots development.
Speaking at the College’s 2nd Convocation Ceremony, held on Wednesday, in Agege, Lagos, and themed “Cooperative Management: The Development and Transformation of Nano Enterprises in Lagos State”, the Governor reaffirmed his administration’s commitment to strengthening the cooperative movement as a strategic pillar of the THEMES Plus agenda.
“I offer my heartfelt congratulations. Your journey through this trailblazing institution has equipped you with skills, knowledge, and values essential not just for your personal advancement, but also for the transformation of our communities and our State. You are the torchbearers of a future where cooperatives lead the way in driving inclusive prosperity,” Sanwo-Olu said.
He praised the College’s Governing Council for organising the convocation within a short timeframe, noting that their dedication exemplifies the “Lagos spirit — proactive, visionary, and resilient — attributes that drive our Administration’s commitment to human capital development.”
Sanwo-Olu highlighted LASCOCO’s recent achievements, including full programme accreditation by the National Board for Technical Education, youth-focused vocational training, and strategic partnerships. These, he said, are central to building a skilled and resilient workforce for the 21st-century economy.
“Today’s event is more than a celebration of academic achievements. It is a reaffirmation of the critical role that cooperative education and management play in nurturing nano, micro, small, and medium enterprises — the lifeblood of our economy,” he said.
He noted that nano enterprises, which make up over 70% of Lagos’ commercial activity and often operate informally with fewer than five employees, face challenges including limited access to finance and exclusion from formal markets. Cooperatives, he stressed, offer practical solutions to these problems.
“By pooling resources, sharing knowledge, and leveraging collective strength, cooperatives empower small businesses to scale, innovate, and thrive,” Sanwo-Olu added.
He also unveiled several government initiatives aimed at bolstering this vision, such as a ₦5 billion Nano Enterprise Fund, digital cooperative hubs, and public-private partnerships to deliver accessible finance and tech solutions.
“These initiatives are designed to strengthen cooperatives as engines of economic transformation and social upliftment,” he said.
Sanwo-Olu further explained that LASCOCO contributed to the THEMES Plus agenda by enhancing education and technology, supporting sustainable business models in health and the environment, and formalising informal businesses to improve governance and security.
To the graduates, he declared: “Use the knowledge and skills acquired to ignite change, foster entrepreneurship, and build resilient communities. Every nano enterprise you nurture, every cooperative you strengthen, contributes to the larger tapestry of Lagos’ economic prosperity. Your success is Lagos State’s success. Your innovation is our future. Your resilience is our strength.”
Earlier, LASCOCO Provost, Akorede Ojomu, celebrated the institution’s growth and the success of its graduates, calling the event a milestone in cooperative education and economic empowerment.
Ojomu credited Sanwo-Olu for his unwavering support and the creation of a visionary Governing Council that has helped drive LASCOCO’s transformation.
“We owe our transformation to a leadership that dared to innovate and invest in education,” Ojomu said.
“Under the governor’s watch, this College has not only grown, but thrived as a beacon of cooperative advancement,” he added.
Ojomu celebrated the fact that many graduates had already secured employment, calling their diplomas “keys to unlocking doors of innovation, leadership and economic relevance.”
He also noted major achievements, including a new academic building, the Technical Vocational Skill-Up Programme targeting the Lekki Free Trade Zone, and recent academic accreditations, saying that the Skill-Up Programme offered rigorous training with global certification to address the shortage of skilled technical workers.
Chairman of LASCOCO’s Governing Council, Oyebowale Rafiu Raji, charged the graduating students to become “architects of Nigeria’s cooperative and enterprise future.”
“This convocation is not just a celebration of academic achievement but also a celebration of relevance — of cooperative education as a catalyst for inclusive economic development, social progress, and institutional strengthening,” he said.
He announced a new five-year strategic plan (2025–2029) focused on digital cooperative education, policy advocacy, and enterprise incubation under the LASMECO initiative.
“To the graduates — go forward with courage. Build your dreams with conviction. Serve your communities with excellence. And wherever you go, remember — you carry with you the promise of this College and the pride of Lagos State,” he concluded.
However, 18 students graduated with Distinction with Miss Abike Ahmed as overall best student, 67 with Upper Credit, 54 with Lower Credit and 18 with Pass, while five distinguished personalities were given honorary awards including former Vice Chancellor of LASU, Professor Lanre Fagbohun and the Deputy Chief of Staff, Mr Sam Egube.
