By Olawale Olalekan
The Special Adviser to the Governor on Cooperatives and Empowerment, Hon. Durojaye Isaa has charged the management of Ife Cooperative Produce Marketing Union Limited (Ife CPMU) to key into government drive in the cooperative industry, saying the state government has in the last one year, the ministry has improved local businesses.
The Special Adviser to the Governor said this during Annual General Meeting of the union in Ile-Ife.
Durojaye said, cooperative societies in the state have been enjoying the state support through several interventions, adding that ICPMU should key into the development to enable the union enjoy the largesse.
He noted that the state government has made significant impacts in the lives of Cooperators and people of the state in general, stressing that the Ministry of Cooperatives and Empowerment focused on economic development and poverty alleviation, to take people out of economic hardship.
Highlighting the achievements of the state government, the Special Adviser said, substantial funds was disbursed to bolster cooperative societies, ₦5 Billion loan scheme as a revolving to strengthen and support cooperative initiatives across the state, aiming to empower local communities and foster economic growth.
He said the government disbursed ₦550 million to ward cooperatives across the 332 wards in the state, benefiting approximately 11,952 individuals.
He added that an additional ₦450 million revolving loan was provided to conventional registered cooperative societies under the Federation of Osun State Cooperatives Limited (FOSCOOP), with 142 societies benefiting from this initiative.
Durojaye stated further that ₦50 million credit support was given to Osun indigenes residing in Abuja and other parts of Northern Nigeria for their various businesses.
According to him, the administration has renovated and upgraded Osun State Cooperative College, Ode-Omu, enhancing the institution’s capacity to provide quality education and training to cooperative members. The has also upgraded the college to degree awarding institution.
Speaking, the manager of the union, Prince Isaac Arayela, said the union has always supporting state government efforts in moving the cooperative industry forward in the state.
He stated that the union recognized pivotal roles the government is playing in reviving cooperative societies, adding the efforts have yielded economic growth in the state.
