Being The Keynote Address Delivered By Honourable Commissioner, Ministry Of Commerce, Industry And Cooperatives Mrs. Olayinka Oladunjoye, Lascofed Cooperative Leaders Conference Held At Rolak Hotel, Ijebu Ode, Ogun State On Friday 14th December, 2018.
I welcome all our cooperative leaders to this annual conference which is aimed at equipping participants with the right tools needed to help make us better in our quest to ensure sustainable development within the Cooperative Movement in Nigeria.
The quest to move the Cooperative Movement forward in a world fraught with so many issues begging for attention and the ability to overcome these for a sustainable future is a real challenge that we must tackle systematically and bring to bear the enormous potential inherent within the movement.
The financial profile of Cooperative Societies in the state should serve as impetus for cooperative leaders to think outside the box and open their minds to business opportunities that can be of collective benefits to members.
We also need to look at Cooperative principles and values as practiced today in order to enhance our deliverables. There must be promotion of sustainable, inclusive and equitable economic growth, creating greater opportunities for all, reducing inequalities, raising basic standards of living, fostering equitable social development and inclusion as well as the promotion of integrated and sustainable management of natural resources and ecosystems.
Some of the factors militating against the achievement of the ideals above include but not limited to:
- Poor investment strategies and policies.
- Inability to judiciously utilize available funds.
- High overheads and running costs.
- Lack of modern business techniques i.e. no SWOT analysis, no environmental scanning etc.
- Inadequate record keeping.
- Difficulty to have legal titles to land by Cooperatives in Agricultural ventures and Estate development.
- Lack of impetus and motivation to invest in cutting edge technology and businesses.
- Struggle for leadership.
- Disloyalty of the part of members.
- Inability to access credit.
This is just to name a few and these issues must be addressed for any progress to be recorded.
To this end, the choice of the theme ‘Expanding Cooperative Frontiers’ is in line with the International Cooperative Alliance’s choice theme for the 2018 International Cooperative Day ”Sustainable Consumption And Production Of Goods And Services”.
Both themes bring to fore the need to look inwards, realign our priorities and strategize effectively in order to be able to face the challenges ahead.
Distinguished Guests, Ladies and Gentlemen, this conference should help to focus on the attributes needed and actions to be taken, so that cooperators can make the much needed contributions to our economy, especially considering that they are present in all spheres of the economy.
I am optimistic that seasoned speakers have converged here today to do justice and open our minds to areas we need to work on, in order to have the desired impact. It is therefore an opportunity for us as leaders to re-appraise our footsteps and create a sustainable roadmap for the growth of Cooperative movements in Lagos State in particular and Nigeria in general.
On this note, I wish to declare the year 2018 Cooperative Leaders Conference opened.
Long live Lagos State Cooperative Federation!
Long live Nigeria!!
Itesiwaju ipinle Eko lo je wa logun.