Economic recession: Osun registers 24,000 cooperative societies

As frantic efforts are ongoing at different levels of governments in Nigeria to cushion the effects of economic recession, Osun State has registered 24, 000 cooperative societies to boost microeconomics status in the state.
The Special Adviser to Governor Rauf Aregbesola of Osun State on cooperative matters, Mr Gbenga Awosode, disclosed this over the weekend at a programme to mark the International Cooperative Day.

Awosode added that more than 16,000 registered cooperative societies had benefited immensely from the state government grants towards wealth creation.
He said the international cooperative day recognises and reaffirms the invaluable role of cooperative unions in social, economic and cultural development as well as in actualisation of social policy objectives of governments across the world.
“The essence of the annual celebration is principally to increase awareness about cooperative movement, highlight successes recorded by movement in the past years and to promote the core values and ideals of cooperative movement.

“Celebration of the world corporate day also aims at strengthening the international cooperative movement as well as building a strong partnership with other international actors including government, non governmental organisations and other cross National organisations”, he said.
Awosode who described cooperative societies as critical to global economic and social development explained that it has helped a lot in the creation of new ethics and ideas in the business.
He said despite the huge developmental value of cooperative societies, the unions was beset with myriad of challenges.

” These challenges must be overcome if cooperative societies are to serve as tools for economic development, poverty alleviation and wealth creation.
Awosode, however, said the state government recognises the importance of cooperative societies as a critical political and economic force.