Ogun State Injects ₦500 Million into Cooperatives to Boost Grassroots Economy

The Ogun State Government has reaffirmed its commitment to growing the cooperative movement as a key driver of economic empowerment and poverty reduction. This pledge was made during the Quarterly Board Meeting of the Cooperative Federation of Nigeria in Abeokuta. The state approved an unprecedented ₦500 million revolving loan for the Ogun State Cooperative Federation Limited and will continue to provide an annual ₦1 million subvention to support cooperative groups’ operations. These interventions aim to expand financing, spur enterprise development, and promote financial inclusion across the state. The national body’s president praised Ogun State for creating an enabling environment that promotes transparency, accountability, and good governance. She also highlighted cooperatives’ vital role in job creation, food security, and youth and women empowerment, and affirmed ongoing collaboration with government to drive sustainable growth.

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