The Federal Ministry of Agriculture and Food Security has announced plans to reform the agricultural cooperative system to enhance its effectiveness in alignment with the Renewed Hope Agenda of the federal government. Sabi Abdullahi, the Minister of State for Agriculture and Food Security, made this declaration in Abuja during the commencement of the distribution of farm inputs to cooperative farmers.
Abdullahi emphasized that the restructuring aims to establish a cooperative sector characterized by trustworthiness, transparency, and accountability, showcasing the transformative potential of cooperation in enhancing livelihoods and communities through agriculture.
The minister acknowledged the outdated nature of current cooperative laws, noting their failure to adapt to recent developments, resulting in a decline in trust and participation. He highlighted that the overhaul aims to directly address these issues by updating legislation, promoting transparency, and rebuilding trust within the cooperative movement.
A critical focus of the proposed reforms, according to the minister, is to safeguard Nigerian farmers from fraudulent practices perpetrated by unscrupulous cooperatives. He expressed concern over citizens falling victim to scams orchestrated by purported cooperatives, emphasizing the necessity to put an end to such activities. The minister stressed the importance of strengthening cooperative regulation to ensure that only duly registered cooperatives can operate.
He further outlined plans for ongoing evaluation and assessment to uphold compliance, indicating that licenses will be revoked from those failing to adhere to ethical standards. Regarding budget allocation, he mentioned a specific line item designated for the review of laws within the Federal Ministry of Agriculture and Food Security sector. This initiative aims to identify laws requiring amendments, with a particular emphasis on the cooperative law, which has not been revised since 2004.
It is imperative that we ensure effective regulation of cooperatives. The prevalence of Nigerians falling victim to scams perpetrated by purported cooperatives must be addressed urgently. We are committed to taking all necessary measures to strengthen cooperative regulation and put an end to such fraudulent activities.
It’s crucial to ensure that our cooperative endeavors benefit the citizens of Nigeria. Let’s establish a resilient cooperative sector that uplifts our farmers and enhances our nation’s prosperity,” the minister emphasized.
