The Director of Cooperatives, Department of Trade and Industry, Rivers State, Mrs. Elizabeth Chidi-Wike said that cooperatives are more successful in all aspects of business than individuals.
The director, who said this in an interview shortly after the recent International Day of Cooperatives 2022 organized by the ministry in Port Harcourt, said the program should challenge members of cooperatives on the achievements of other groups, adding that companies agriculture has great growth opportunities.
“Agricultural cooperatives should take advantage of the opportunities and information provided by the program to improve their activities.
“I worry when entrepreneurs, both in other businesses and in agriculture, access loans and use them to marry more women and take titles instead of setting up their businesses.
“Cooperatives play a major role in agriculture, production, retail, wholesale, finance, housing, employment, education and social services,” she said. .
Earlier, a resource person from the Central Bank of Nigeria (CBN), Mr. Oruveigha Stanley, who gave a lecture on the topic, “Intervention and Abundant Opportunities for Wealth Creation and Poverty Alleviation through cooperative societies,” said the CBN had mandated for business intervention and development.
Stanley noted that the apex bank has more than 50 financial intervention programs that would benefit society, adding that three of the 50 have become highly relevant.
“These are the Borrower Anchor Program (ABP), the Agricultural Credit Guarantee Scheme and the Fertilizer Initiative,” he added, saying cooperatives can join together and take out loans. for their members.
He said he was unhappy that farmers in Rivers had not shown interest in the Anchor Borrowers and Fertilizer Initiative Fund, which can only be awarded to farmers who have cleared farmland.
He called on farmers in the state to come and partner with CBN in agricultural development, adding that communities can approach the bank with land cleared for cassava, maize, rice and other crops.
He reiterated that farmers and other cooperatives can access millions of naira to grow and expand their businesses to ensure food security for economic growth.
From: Lilian Peters