Sanwo-Olu Lauds N152bn Capital Base of Lagos Corporative Societies

By Dipo Olowookere

Governor Babajide Sanwo-Olu of Lagos State has expressed surprise at the capital and membership base of corporate societies in the metropolis, which are in excess of N152 billion and N2 million respectively.

Speaking at the International Day of Cooperatives Award/Gala Nite held recently in Lagos, Mr Sanw-Olu said the organisations have distinguished themselves as a very viable organisation on a progressive path.

He used the occasion to renew his support to cooperatives societies, saying that the organisation has established itself as a major player in the economy of the state.

Governor Sanwo-Olu also noted that the state government will continue to support the cooperative societies in developing innovative strategies that will enhance productivity and increase the prosperity of its members.

He urged the leadership of the various cooperative societies in the State not to rest on their oars considering the fact that the race of excellence, which Lagos is known for, has no finishing line.

Also speaking at the event, Permanent Secretary Ministry of Commerce, Industry and Cooperatives, Mrs Omobolanle Ogunmola, described cooperatives as people-oriented associations that prioritise human development and social justice within the workplace.

She said the fact that there is no business organisation with a reasonable number of employees without one type of cooperative society or the other operating among its workforce, even among public institutions, further attests to the importance of the organisation, highlighting that there are a number of events showcasing the contributions of the cooperative movement in the state towards promoting the economic and social growth of the people.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via

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