Lagos backs cooperatives to drive inclusive economic growth
By Adeola Ogunrinde –
The Lagos State Government on Saturday restated its commitment to building an inclusive and resilient economy by leveraging the cooperative movement to promote shared prosperity across communities.
The pledge was made by the Commissioner for Commerce, Cooperatives, Trade and Investment, Mrs. Folashade Kaosarat Bada Ambrose, during her welcome address at the 2025 International Day of Cooperatives celebration, held in partnership with the Lagos State Cooperative Federation (LASCOFED).
The event, which featured an awards ceremony recognizing exceptional contributions from cooperative leaders and institutions, was themed “Cooperatives: Driving Inclusive and Sustainable Solutions for a Better World.” The commissioner noted that the theme aligns with Governor Babajide Sanwo-Olu’s T.H.E.M.E.S+ Development Agenda and the Lagos State Development Plan (LSDP 2052).
“Cooperatives remain a powerful vehicle for economic inclusion and social transformation. From community savings groups to agribusiness cooperatives, these models reduce poverty, create decent jobs, and foster grassroots participation in economic development,” Mrs. Bada Ambrose said.
In his address, President of LASCOFED, Mr. Oladipo Shobule, represented by Ayuba Ogunshanu, highlighted the importance of the United Nations declaring 2025 as the International Year of Cooperatives—only the second such global recognition in history. He praised the Lagos State Government for its continued oversight and support for cooperative activities.
Guest lecturer, Dr. Olamide Okulaja, encouraged cooperative members to tap into government initiatives aimed at improving their livelihoods and strengthening their organizations for long-term sustainability.
The event attracted a wide range of stakeholders, including government officials, development partners, and cooperative leaders, all united in the vision of using cooperatives to drive inclusive growth and development across Lagos State.
