FG PLANS DIGITAL OVERHAUL OF COOPERATIVE SOCIETIES

FG PLANS DIGITAL OVERHAUL OF COOPERATIVE SOCIETIES

The federal government has unveiled plans to digitize Nigeria’s cooperative societies, aiming to modernize operations, enhance transparency in financial reporting, and improve governance across more than 30,000 registered cooperatives nationwide.

The initiative was announced by the Minister of State for Agriculture and Food Security, Dr. Aliyu Sabi Abdullahi, during a stakeholders’ meeting in Abuja focused on reviewing the Nigerian Cooperative Societies Act, Cap N98 LFN 2004.

Dr. Abdullahi emphasized that digitalization would introduce efficiency, integrity, inclusion, and sustainable growth to the sector. “Digitalization will strengthen cooperative institutions, increase trust, improve service delivery, reduce fraud, and unlock new opportunities across the cooperative economy,” he said.

He highlighted cooperatives as key tools for capital mobilization, inclusive growth, and shared wealth creation when properly structured. The move forms part of the Renewed Hope Cooperative Reform and Revamp Programme (RH-CRRP), which aligns with President Bola Ahmed Tinubu’s goal of achieving a one-trillion-dollar economy by 2030.

The RH-CRRP is described as a transformative framework to position cooperatives as drivers of community wealth, poverty reduction, and broad-based development. Key focus areas include digital registration, a national cooperative database, digital membership identification systems, electronic documentation, and streamlined administration, filings, and reporting.