Professor Kolawole Obisesan has called on the cooperative movement in the South-West to innovate and reinvent in the face of 21st-century changes to stay relevant.
Professor Obisesan made this statement during his address at the opening ceremony of the two-day 2023 South-West Cooperative Movement Summit of the Odua Cooperative Alliance, held on Tuesday in Ibadan.
The theme of the summit was ‘Exploring Strategies for Re-building the Cooperative Movement for Sustainable Growth and Development.’
Obisesan, who was the chairman of the summit, said the economic and political challenges that Nigeria is facing provide opportunities for cooperative societies and businesses to innovate and explore new ways of doing things.
While calling on governments to eliminate duplication of taxes and provide critical infrastructure for businesses to thrive, Obisesan said, “In the past one and a half decades, Nigeria has been in a quandary, both economically and politically.
We would be insincere if we said we don’t know that such multidisciplinary challenges will negatively affect most economic businesses, like cooperative societies.
“All these challenges must be seen as opportunities to innovate and build new ways and systems of doing things, particularly for businesses like cooperative societies.
Efforts must be made to invigorate and boost the productivity and efficiency of the private sector through greater ease of doing business.
“This also calls for the sensitisation of the government regarding the elimination of duplicated taxes payable by businesses and the provision of critical infrastructure such as power supply.
“We have to take our destiny into our own hands by using our energy, talent, and available technology to create new paths and opportunities.
This means that we must rethink many of our perspectives concerning the management of the South-West cooperative movement.
“We must put our energy to work rebuilding the South-West cooperative movement with a view to repositioning it to meet the challenges of 21st-century businesses.
This is going to be a daunting task, especially given the decades of structural distortion and disarticulation of Nigeria’s economies, but wherever there is a will, there will be a way.”
In his opening address, President of Odua Cooperative Conglomerate Limited, Elder Felix Bamidele Ajibode, emphasised the need for collaboration, the establishment of an accurate database, and exploring other viable ventures in the effort to rebuild the Southwest cooperative movement.
Ajibode said, “The Board and management of the conglomerate firmly believe that we should maximise cooperative integrated activities, which are synonymous with the principle of cooperation among cooperatives.
We believe that we all need to make the movement very strong and financially buoyant, which is a precondition for rebuilding the cooperative movement in Southwest Nigeria.
“Another area that we need to look into as our strategy for rebuilding our cooperative movement is establishing an accurate database for the cooperative movement of the Southwest. The importance of data cannot be overemphasised in planning and project execution for the benefit of all.
“We should also focus on reinventing cooperative banking, even if it is at a microfinance level, for a distinct identity. A cooperative movement without a financial institution is not complete. The fact that some of our leaders failed us in our cooperative bank effort in the past does not mean we cannot succeed in our second attempt.”
In his keynote address, Oyo State Commissioner for Trade, Investment, Industry, and Cooperatives, Honourable Ademola Ojo, who was represented by the Permanent Secretary of the ministry, Dr Bunmi Babalola, applauded the vital role played by cooperatives in stimulating the economy of the state and assured of the government’s support.
He said, “Cooperatives play a vital role in fostering economic growth, social development, and empowerment. Your commitment to collaboration, shared goals, and mutual support has not only strengthened our local economy but also uplifted countless lives.
“Cooperatives are more than just businesses; they are vehicles for positive change. By pooling resources, sharing knowledge, and working collectively, you are transforming lives and strengthening our local economy.
“I am proud to say that this present administration of Governor Seyi Makinde recognises the importance of cooperatives and is committed to supporting their growth.”
The summit featured paper presentations from Senator Titus Olupitan, pioneer General Manager of Cooperative Bank Limited, on ‘The Rise and Fall of Cooperative Apexes of the Cooperative Union of Western Nigeria,’ Chief Foluso Famewo on ‘Revamping Harmonious Relationship of Cooperative Stakeholders for Sustainable Peace and Development,’ and Professor John Aihonsu of Olabisi Onabanjo University on ‘Impacting Professionalism and Corporate Governance in Cooperative Leadership for Good Service Delivery,’ among others.
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