Oyo Govt Witnesses Signing of Landmark MoU to Digitize Nigeria’s Cooperative Sector

The Oyo State Government has witnessed the signing of a landmark Memorandum of Understanding (MoU) between the Federal Government, the cooperative movement and a technology consultant, marking a significant step towards the digital transformation and reform of Nigeria’s cooperative sector.

The MoU was signed today, Wednesday, August 12, 2026, at the National Technical Workshop on Cooperative Sector Digitalization and MoU Signing Ceremony held at Ladi Kwali Acacia Hall, Abuja Continental Hotel, Abuja.

The agreement was signed by the Permanent Secretary, Federal Department of Cooperatives, on behalf of the Federal Government; the President, Cooperative Federation of Nigeria, on behalf of cooperators; and the Chief Executive Officer of Seamfix Ltd., on behalf of the consultant.

The Oyo State Government, which was represented at the event by the Director of Cooperatives, Ministry of Investment, Trade, Cooperatives and Industry, Mr. Idowu Olawoyin, who represented the Honourable Commissioner, Professor Salihu Abdulwaheed Adelabu, welcomed the development as an opportunity to strengthen the State’s cooperative system and align it with the emerging national digital framework.

Speaking on the significance of the agreement, the Permanent Secretary, Federal Department of Cooperatives, described the MoU as an important step towards translating the Federal Government’s reform vision for the cooperative sector into a practical and sustainable digital system.

He noted that the partnership would provide the foundation for a more coordinated and reliable cooperative information system, particularly through the implementation of the National Cooperative Smart Registry (NCSR), Cooperative Verification Number (CVN) and Cooperative Member Identification Number (CoopID).

According to him, the initiative would strengthen the identification and verification of cooperative societies and members, improve data management and enhance transparency, accountability, planning and service delivery within the sector.

He stressed the importance of collective ownership of the reform, urging State Governments, cooperative federations, societies and other stakeholders to support the implementation process to ensure that the benefits of digitalisation reach cooperative members across the Country.

The Permanent Secretary also appreciated President Bola Ahmed Tinubu for the Federal Government’s commitment to repositioning the cooperative sector as a strategic instrument for economic development, financial inclusion, enterprise development, employment generation and wealth creation.

He further appreciated the Cooperative Federation of Nigeria and co-operators nationwide for their cooperation and commitment to the reform process, as well as the Government officials, stakeholders and other participants whose contributions facilitated the successful workshop and MoU signing.

The MoU forms part of the Federal Government’s Renewed Hope Cooperative Reform and Revamp Programme (RH-CRRP 2025–2030), which seeks to move the cooperative sector from predominantly analogue processes to a modern, transparent, productive and digitally enabled system.

Through the new digital framework, cooperative societies and members are expected to benefit from improved identification, reliable records and better access to Government interventions, finance, markets and other economic opportunities.

For Oyo State, participation in the process is particularly significant as the State continues to promote accurate data management and stronger institutional systems across its economic sectors.

The initiative also aligns with the position of Commissioner Adelabu, who has consistently emphasised accurate data, effective coordination and modern approaches to strengthening the Department of Cooperatives and improving service delivery.

The Oyo State Government, under the leadership of Governor Seyi Makinde, therefore reaffirmed its commitment to collaborating with the Federal Government and other stakeholders towards the successful implementation of the digitalisation programme and the emergence of a stronger, more organised and inclusive cooperative sector.

The MoU signing marks a significant step towards ensuring that Nigeria’s cooperative movement is supported by credible data, digital identity, improved governance and systems capable of connecting cooperative members to wider opportunities for economic growth and empowerment.