Lagos targets poverty with Cooperatives, backs LASCOCO’s digital agenda

The Lagos State Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs Folashade Ambrose-Medebem, has charged the Lagos State Cooperative College (LASCOCO) to take a leading role in driving poverty alleviation and economic transformation across the state through cooperative empowerment, technology, and leadership.

Speaking at the inauguration of the LASCOCO Governing Council on Wednesday in Alausa, Ikeja, Ambrose-Medebem described cooperatives as powerful instruments for grassroots development and societal upliftment, adding that the college must rise to its mandate by fostering innovation, accountability, and capacity building.

“LASCOCO is about empowering communities. Economic transformation is what you stand for. It all boils down to leadership. Vision is about the ‘what’ and the ‘why’, while mission is the ‘how’. And before you define the ‘how’, you must have clarity of purpose,” she said.

Drawing inspiration from Kenya’s cooperative model—which dates back to 1908 and now includes a dedicated university—Ambrose-Medebem proposed international collaboration and knowledge exchange.

“Kenya is an example of what a cooperative system should be. I don’t mind going there, inviting them here, or leveraging technology to bring them into our discussions,” she said.

The Commissioner highlighted the ministry’s renewed focus on Key Performance Indicators (KPIs), stressing that cooperatives must be aligned with societal needs, particularly in tackling poverty.

“Cooperative societies must be mission-driven. At the heart of that mission is poverty alleviation. We are scaling efforts to lift more people out of poverty.”

Ambrose-Medebem also underscored the importance of integrating technology into cooperative operations to ensure transparency and efficiency.

“We must digitise the cooperatives to drive accountability and eliminate fraud. But this cannot happen unless LASCOCO trains and prepares them for this transformation,” she noted.

She revealed that the Ministry is currently implementing a new policy that linked access to affordable finance to cooperative membership.

“This is a transformational project. It will expand your database exponentially and drive up enrolment in the college. So I’m preparing you for that growth,” she told the LASCOCO board.

According to the Commissioner, the cumulative outcome of these initiatives would be increased job creation, improved access to financial resources, and data-driven policy decisions that promote economic prosperity across Lagos State.

Addressing the newly inaugurated Governing Council, Ambrose-Medebem urged the board to prioritise strategic partnerships and international benchmarking.

“At your next retreat, I want to see a roadmap that includes partnerships—especially with countries like Kenya—that can bring valuable cooperative experiences to Lagos,” she added.

LASCOCO, she said, is well-positioned to lead a new era of cooperative-driven development in Lagos, and its strategic alignment with government priorities will be vital in achieving inclusive growth.

In his welcome address, the Provost of LASCOCO, Mr Akorede Ojomu, commended Governor Babajide Sanwo-Olu for his pivotal role in transforming the institution from a dormant legal framework into a functional and nationally recognised academic body.