Asset of Cooperative Societies Hits N60Bn in Lagos

April 20, 2015 – The total asset base of cooperative societies operating in Lagos State has reached N60 billion.

Commissioner for Agriculture, Prince Gbolahan Lawal who made the revelation at a press briefing in Lagos said there are about 6, 500 cooperative societies in Lagos out of which only 2, 700  have been revalidated and confirmed to active.

He said that a capacity building software package, (COOPRATA) has been introduced to standardise posting of books and annual accounts of cooperative societies.

“Equally,  the ministry has also increased the number of cooperative areas from 15 to 20”, he said, adding that the 20 area offices with their headquarters at the Cooperative College have been networked.

He said that a total of 3, 662 cooperators across the state were trained and retrained at the cooperative college.

“In addition, 3,319 annual accounts were prepared and verified, 1,902 were coordinated, 793 ordinary general meetings were supervised and 3, 259 training sessions were held for members of the cooperative societies”, he said.