Oyo Govt Reaffirms Commitment to Cooperative Development, Seeks Data-Driven Partnership for Economic Growth

The Oyo State Government has reaffirmed its unwavering commitment to strengthening cooperative societies as critical drivers of economic development, financial inclusion, job creation and poverty reduction, while calling for a stronger data-driven partnership to enhance the sector’s contribution to the economy.

The Honourable Commissioner for Investment, Trade, Cooperatives and Industry, Professor Salihu Abdulwaheed Adelabu, gave the assurance while representing the Oyo State Government at the 2026 Standard Administrative Meetings and Component Annual General Meetings (AGMs) of the Odua Cooperative Conglomerate (OCC) held at its Central Headquarters, Obisesan Hall, Dugbe, Ibadan.

The AGM brought together cooperative leaders and delegates from across the South-West to deliberate on statutory matters, including the review of consolidated financial performance, governance issues, board transitions, socio-economic interventions and strategies for strengthening the cooperative movement in the region.

Professor Adelabu said Governor ‘Seyi Makinde’s administration accords high priority to cooperative development, noting that the Ministry of Investment, Trade, Cooperatives and Industry reflects the Government’s recognition of the sector as a key pillar of sustainable economic growth.

He described cooperative societies as traditional financial intermediaries that mobilise savings, provide access to credit, promote entrepreneurship, create employment, support food security, enhance financial inclusion, facilitate housing development and contribute significantly to wealth creation and poverty reduction.

The Commissioner observed that Government alone cannot provide employment for all graduates, stressing that vibrant cooperative societies remain indispensable in empowering citizens to establish businesses and contribute meaningfully to the State’s Gross Domestic Product (GDP).

Speaking on the request for Government support, Professor Adelabu said future interventions must be driven by reliable statistics. He therefore urged the leadership of the cooperative movement to provide comprehensive data on the sector’s economic contributions across the South-West, noting that such evidence would strengthen policy decisions, facilitate engagement with Governor Seyi Makinde and other Governors, and attract greater Government support.

He reiterated that the present administration remains committed to evidence-based governance and assured the gathering of the Ministry’s readiness to collaborate with cooperative stakeholders through sustained engagement and strategic partnerships to advance the sector.

The Commissioner also disclosed that he recently attended the National Council on Industry, Trade and Investment meeting in Enugu, where he sought information on the participation of Oyo State cooperative societies, stressing the need for stronger representation at national policy engagements.

Earlier, the President of the Odua Cooperative Conglomerate, Elder Felix Bamidele Ajibode, appealed to the Oyo State Government to provide greater support for cooperative societies through funding and collaboration. He also sought the participation of Governor Seyi Makinde at the forthcoming World Cooperative Day celebration, expressing confidence in the administration’s continued support for the cooperative movement.

The AGM reviewed key statutory activities of the Conglomerate, including financial audits, governance matters, tenure issues and regional socio-economic programmes. The meeting was attended by cooperative leaders, delegates and representatives from Oyo, Lagos, Ogun, Ondo, Osun and Ekiti States, underscoring the Conglomerate’s role as the apex cooperative body promoting regional integration and economic development across the South-West.