FG Launches South-West Tour for New Cooperative Bank

The Federal Government of Nigeria commenced a South-West tour on Monday to promote the new Cooperative Bank, with the aim of mobilizing share capital and enhancing the cooperative sector. The initiative, led by Dr. Aliyu Abdullahi, the Minister of State for Agriculture and Food Security, is part of President Bola Ahmed Tinubu's Renewed Hope agenda.

Abdullahi described the tour as a strategic effort to reposition the cooperative sector as a key driver of economic growth and financial inclusion. The modern cooperative movement in Nigeria originated from the South-West, following the 1934 Strickland Report, which led to the enactment of the Cooperative Societies Ordinance in 1935.

The advocacy tour is a direct outcome of the 8th regular meeting of the National Council on Cooperative Affairs held in Abuja in March 2026, where a resolution was passed to renew hope for cooperative reform. The initiative focuses on establishing a robust cooperative financial system to support farmers, artisans, traders, and marginalized groups.