The Anambra State Government has unveiled a comprehensive reform programme aimed at repositioning cooperative societies to access government intervention funds, development finance and international grants.
The initiative was announced during the 2026 International Cooperative Day celebration at the Jerome Udoji Secretariat in Awka, where the government outlined measures to strengthen governance, improve transparency and enhance the contribution of cooperatives to the state’s economic development.
The State Commissioner for Commerce, Nonso Ebeonwu, said the administration of Governor Prof. Chukwuma Charles Soludo had commenced a statewide revalidation and digitalisation exercise to establish a credible database of registered cooperative societies.
He said the reforms, being implemented in collaboration with the Cooperative Federation of Anambra State (COFAS), would produce a comprehensive policy framework and strategic blueprint to reposition cooperatives as key drivers of financial inclusion, grassroots development, women and youth empowerment, and sustainable economic growth.
According to Ebeonwu, all cooperative societies in the state will operate under the Ministry of Commerce through the Department of Cooperatives, while active societies will affiliate with COFAS to strengthen coordination and eliminate multiple registrations.
He added that the government would establish an advisory council to improve policy coordination, governance and accountability within the cooperative sector.
The commissioner expressed confidence that the reforms would position cooperative societies to benefit from financing opportunities offered by the Bank of Industry (BOI) and other development partners.
“The reforms will position cooperative societies to benefit from financing opportunities offered by the Bank of Industry and other development partners,” he stated.
Ebeonwu urged cooperative leaders to embrace unity, transparency and accountability in managing their organisations.
The President of COFAS, Dr Ogochukwu Soludo, said representatives from the state’s 179 communities and 21 local government areas gathered at the event to reaffirm their commitment to building stronger cooperative institutions capable of driving inclusive economic development.
He noted that although cooperatives play a critical role globally in promoting entrepreneurship, job creation and shared prosperity, Anambra’s apex cooperative body had remained inactive for more than three decades before its recent revival.
Dr Soludo said COFAS had adopted a three-year strategic development plan focusing on governance reforms, financial literacy, digital transformation, market expansion, value addition, youth and women empowerment, disability inclusion, and improved access to affordable financing through partnerships with financial institutions, development agencies and the private sector.
He appealed to the state government to integrate cooperatives into its broader economic development agenda and support the establishment of a Cooperative Development Fund.
Earlier, the Director of Cooperatives, Mrs Chinwe Ozoemena, said the harmonisation of regulatory policies and the planned Cooperative Management Information System would improve transparency, strengthen regulatory compliance and position cooperative societies to attract international grants and institutional partnerships.
Also speaking, Mr Chuka Okeke of the Ministry of Commerce urged cooperative societies and small businesses to strengthen their capacity, leverage emerging funding opportunities and sustain their contributions to economic growth and improved livelihoods.
The event was attended by the Commissioner for Information and Public Enlightenment, Dr Law Mefor, representatives of the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), the Bank of Industry (BOI), the Institute of Cooperative Professionals of Nigeria (ICOPRON), officials of the Ministries of Budget and Economic Planning and Youth Development, as well as other development partners.
Activities marking the celebration included a symposium, a march-past, exhibitions by cooperative societies and a showcase of locally manufactured products.
