Lagos generates the highest income from cooperatives — CFN
Chairperson of the Cooperative Federation of Nigeria, Ayeola Oriyomi, said the cooperative sector provides the highest gross domestic product to income in Lagos State.
He revealed it on Friday at the inauguration of the Medicals (Lagos Island) Cooperative Society's passenger boat services.
He said, "I commend LASCOMED for this initiative. The passenger boat service is a value-added service provided by the cooperative for the benefit not only of its members, but also of the people of the State of Lagos.
"Of course the Lagos State government is trying, but they can still do better in terms of helping and assisting the movement to do more. They are aware that cooperatives manage resources better than any other sector.We are starting with two boats now, if we have a relationship with the government, we will have 10 to 30 ferries and this will have multiple effects on the economy of Lagos State.
"I can tell you that out of all the sectors in Lagos State, the cooperative sector contributes the most to the GDP of Lagos and I can confirm that as well."
Speaking at the event, the Governor's Special Advisor for Trade, Industry and Cooperatives, Abiola Olowu, said the government supports cooperatives and has a program planned for them.
>He said, “Lagos State Government is encouraged by this achievement today and we hope other cooperatives will follow suit as the investment is sure to pay off and help to a large extent to the economy of the state.
"There is a program on (the) ground, the memo has already been submitted to the Governor, and I pray that before the end of the year we will obtain approval. I refuse to mention this it is, but it is a note of support for cooperative societies."
According to LASCOMED Chairman, Mosidat Oshodi-Bakare, investment in water transport was considered due to the challenges of heavy traffic on the roads. While calling on the government to help them, she added that the cooperative had spent a lot and still had other projects for the general public.
She said: "This investment in water transport has been undertaken because of the heavy traffic problems that most workers face on our routes to and from work.
"We call on (the) people of Lagos to use our ferries, which are relatively inexpensive, and to introduce us to their friends and family.
"We are calling on Lagos State to grant us financial assistance and we will return their money with interest."
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Chairperson of the Cooperative Federation of Nigeria, Ayeola Oriyomi, said the cooperative sector provides the highest gross domestic product to income in Lagos State.
He revealed it on Friday at the inauguration of the Medicals (Lagos Island) Cooperative Society's passenger boat services.
He said, "I commend LASCOMED for this initiative. The passenger boat service is a value-added service provided by the cooperative for the benefit not only of its members, but also of the people of the State of Lagos.
"Of course the Lagos State government is trying, but they can still do better in terms of helping and assisting the movement to do more. They are aware that cooperatives manage resources better than any other sector.We are starting with two boats now, if we have a relationship with the government, we will have 10 to 30 ferries and this will have multiple effects on the economy of Lagos State.
"I can tell you that out of all the sectors in Lagos State, the cooperative sector contributes the most to the GDP of Lagos and I can confirm that as well."
Speaking at the event, the Governor's Special Advisor for Trade, Industry and Cooperatives, Abiola Olowu, said the government supports cooperatives and has a program planned for them.
>He said, “Lagos State Government is encouraged by this achievement today and we hope other cooperatives will follow suit as the investment is sure to pay off and help to a large extent to the economy of the state.
"There is a program on (the) ground, the memo has already been submitted to the Governor, and I pray that before the end of the year we will obtain approval. I refuse to mention this it is, but it is a note of support for cooperative societies."
According to LASCOMED Chairman, Mosidat Oshodi-Bakare, investment in water transport was considered due to the challenges of heavy traffic on the roads. While calling on the government to help them, she added that the cooperative had spent a lot and still had other projects for the general public.
She said: "This investment in water transport has been undertaken because of the heavy traffic problems that most workers face on our routes to and from work.
"We call on (the) people of Lagos to use our ferries, which are relatively inexpensive, and to introduce us to their friends and family.
"We are calling on Lagos State to grant us financial assistance and we will return their money with interest."
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