Ogun State Governor Dapo Abiodun has announced plans to upgrade the state’s Cooperative College while citing the disbursement of over ₦1 billion in loans to small businesses.
The announcement was made during the celebration of the 2026 International Day of Cooperatives for the Ijebu and Remo Zone, held in Ijebu-Ode on Wednesday. The governor stated that the initiative is designed to expand financial access for grassroots enterprises and strengthen the manpower available to manage cooperative institutions.
The move to upgrade the college is intended to develop professional manpower, ensuring that cooperative societies are managed with modern technical expertise. This institutional strengthening is paired with the ₦1 billion credit facility aimed at boosting the liquidity of micro-enterprises and small-scale traders across the state.
Speaking at the event, Governor Abiodun explained that strengthening cooperative institutions is central to his administration’s strategy for economic inclusion. He noted that by improving the educational infrastructure for cooperative management, the state can better facilitate the flow of credit to those who typically struggle to access traditional banking services.
Boosting Grassroots Financial Inclusion
The event saw the presence of high-ranking officials, including the Minister of State for Agriculture and Food Security, Aliyu Sabi Abdullahi, who was represented by his Special Assistant on Cooperatives and Farmer’s Assistant, Victor Oyegoke. Also in attendance were the President of the Ogun State Cooperative Federation Limited (OGSCOFED), Wasiu Olaleye, the Commissioner for Community Development and Cooperatives, Ademola Balogun, and the Ogun State Head of Service, Olarenwaju Saka.
In Nigeria, cooperatives serve as a critical bridge for rural farmers and petty traders to access capital without the stringent collateral requirements of commercial banks. The government’s focus on upgrading the Cooperative College suggests a shift toward professionalising the sector to reduce loan default rates and improve the sustainability of these grassroots funds.
The Ijebu and Remo zones are key agricultural and commercial hubs within Ogun State. By focusing the celebration and the announcements in Ijebu-Ode, the administration is targeting regions with high densities of cooperative societies involved in crop production and artisanal trade.
The disbursement of over ₦1 billion in loans reflects an effort to cushion the impact of inflation and high borrowing costs on small businesses. However, the success of these loans often depends on the capacity of the beneficiaries to manage the funds effectively, which justifies the governor’s simultaneous push for professional training through the college upgrade.
The Ogun State government is expected to release a detailed roadmap for the college’s upgrade, including new curricula and infrastructure developments, to align the institution with current global cooperative standards.
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