Lagos rallies Cooperatives to power Inclusive Economic Growth

The Lagos State Government has restated its resolve to build a more inclusive and resilient economy by leveraging the strength of cooperatives to deliver broad-based prosperity.

This affirmation came from the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Bada Ambrose, during her welcome address at the 2025 International Day of Cooperatives celebration.

The event, held in collaboration with the Lagos State Cooperative Federation (LASCOFED), also featured an awards ceremony recognising exceptional achievements by cooperative leaders and institutions.

Speaking on the theme “Cooperatives: Driving Inclusive and Sustainable Solutions for a Better World,” Ambrose said the theme alignED with Governor Babajide Sanwo-Olu’s T.H.E.M.E.S+ Development Agenda and the Lagos State Development Plan (LSDP 2052), which both emphasise grassroots empowerment, support for small businesses, and economic justice.

“Cooperatives remain one of the most effective channels for achieving economic inclusion and social transformation,” she said.

“From community thrift societies to agribusiness cooperatives, they play a vital role in poverty reduction, job creation, and grassroots mobilisation.”

Delivering the keynote address, LASCOFED President, Mr. Oladipo Shobule, reflected on the global significance of 2025 being designated the International Year of Cooperatives by the United Nations-the second time such recognition has been given in UN history.

He described it as a milestone for the global cooperative movement and applauded the role of cooperatives in driving sustainable development.

“Cooperatives are not just economic models; they are engines of social progress,” Shobule noted.

“Here in Lagos, they’ve become catalysts for community empowerment—facilitating access to finance, housing, agriculture, entrepreneurship, and education for thousands of residents,” he added.