The government of Ekiti State under Dr Kayode Fayemi has concluded arrangements to stop giving loans directly to individuals but instead issue out loans to beneficiaries through cooperative societies and movements to ensure proper monitoring and stress-free loan refund.
The Commissioner for Investment, Trade and Industries, Mr. David Olusoga dropped the hint while declaring open National Executive Council (NEC) meeting of the Institute of Cooperative Professionals of Nigeria (ICOPRON) held in Ado-Ekiti.
Olusoga who described the Governor Kayode Fayemi-led administration as a progressive government that is poised to drive the state economy through public-private partnership, said that cooperative organizations would be encouraged and mobilized to play active roles in the economic emancipation of the state.
He assured that the number of cooperative societies would have risen above a thousand at the end of this administration, while support would be given to them to invest in buildings and enterprises that would be of immense benefits to their members and the society at large.
The Commissioner guaranteed that the governor, Dr. Kayode Fayemi would mobilize members of the National Assembly from Ekiti State, as well as other All Progressive Congress (APC) National Assembly members across the country to facilitate accelerated passage of the bill establishing the institute in the country.
In his address, the President of the Institute, Mr. Olubunmi Fajobi said that the establishment of the Institute of Cooperative Professionals of Nigerians (ICOPRON) was conceived to bring together all cooperative bodies, including regulators in government, societies, the academia and other stakeholders in the cooperative profession under one umbrella to meet the international best practices.
Mr. Fajobi said that it was high time the professional cooperators come together to fashion out ways to move the profession up like other similar bodies in Nigeria that have been fully rooted.
He added that the state chapter of the Institute would be inaugurated at the on-going NEC meeting in Ado-Ekiti, with an appeal to the State government to intervene in the speedy passage of the bill establishing the institute which had been in the national assembly since the 6th assembly, to give a legal credence to the organization.
In his welcome address, the Deputy Director of Cooperative in the state, Mr. R.O. Ajanaku said that the establishment of the Institute was long overdue, calling on government to support its activities.
Packaged by Emmanuel Adeniran
