FG Revamps Cooperatives for Food Security

Dayo Thomas

The Federal Government of Nigeria is pulling out all the stops to boost food security, job creation, and economic growth through a comprehensive overhaul of the cooperative sector. Minister of State for Agriculture and Food Security, Aliyu Abdullahi, has emphasized that revitalizing the cooperative sector is “not optional, but urgent and non-negotiable” to achieve these goals. The Renewed Hope Cooperative Reform and Revamp Programme is a bold initiative aimed at addressing the myriad challenges plaguing the sector, including weak governance, outdated laws, poor data, underfunding, and limited digital adoption.

The programme’s key initiatives are designed to tackle these challenges head-on. Governance and Regulatory Reforms will improve oversight and management, while Digitalization will enhance data management and access to finance. The establishment of a Cooperative Bank will provide affordable credit to farmers and agro-processors, and Capacity Building programmes will equip cooperative leaders and members with the skills they need to succeed. These reforms are expected to have a ripple effect, increasing food production, reducing poverty, and empowering rural communities.

The government’s commitment to making cooperatives a central driver of Nigeria’s economic growth is a welcome development. By addressing the long-standing challenges facing the sector, the Renewed Hope Cooperative Reform and Revamp Programme has the potential to unlock the sector’s vast potential and contribute significantly to the country’s economic development. With the right support, cooperatives can become a powerful engine for growth, driving prosperity and improving the lives of millions of Nigerians.