The Cooperative Federation of Nigeria (CFN) is advocating for significant reforms in the country's cooperative sector to harness its potential for driving grassroots development, economic empowerment, and sustainable development. This call for action comes ahead of the 10th National Cooperative Summit and Exhibition, scheduled to take place in Abuja from October 6 to 9, 2026. The summit's theme, "Cooperative Reform: Unlocking Cooperative Potential for Peace, Sustainable Development and Economic Transformation," reflects the federation's goals.
The summit aims to bring together key stakeholders, including cooperative leaders, policymakers, development partners, entrepreneurs, and researchers, to discuss measures to reposition the sector and enhance its contribution to national economic development. The CFN emphasizes that cooperatives have been instrumental in socioeconomic advancement by providing affordable credit, promoting savings, supporting agriculture and small-scale businesses, and encouraging democratic participation. However, the sector's full potential remains largely untapped.
The CFN, led by its President, Mershak Hannatu Paul, highlights that comprehensive reforms are imperative to unlock the sector's potential. The summit will review the current state of cooperative legislation and regulation in Nigeria and develop proposals to strengthen the sector. Participants will explore ways to unlock the economic potential of cooperatives in various sectors, including agriculture, housing, transport, manufacturing, and the informal sector.
The connection between cooperative development, peace-building, social cohesion, and sustainable livelihoods, particularly at the grassroots, will also be examined. The CFN stresses the need for stronger partnerships among cooperative societies, government agencies, financial institutions, and international development organizations to expand access to capital, markets, and technical support. This collaboration is crucial for the sector's growth and effectiveness.
The four-day event will feature keynote addresses, technical paper presentations, panel discussions, and workshops, alongside a national exhibition showcasing products and services from cooperative societies and enterprises across the country. The exhibition will provide opportunities for market linkages, networking, and knowledge sharing, enabling cooperative enterprises to connect with potential investors, financial institutions, and consumers.
The summit is expected to produce actionable recommendations that could guide government policy and legislative reforms in the cooperative sector. The CFN has invited cooperative societies, apex bodies, government ministries and agencies, development partners, financial institutions, non-governmental organizations, the media, and members of the public to participate actively in the summit. The gathering represents an opportunity to chart a new direction for the cooperative movement and strengthen its contribution to Nigeria's economic transformation.
The CFN encourages all stakeholders to work together to unlock the potential of cooperatives for peace, sustainable development, and economic transformation. By doing so, the sector can play a more significant role in Nigeria's economic development, and cooperatives can become a critical vehicle for socioeconomic advancement. The summit's outcomes will be crucial in shaping the future of the cooperative sector in Nigeria.
Key points
- The Cooperative Federation of Nigeria is calling for reforms to unlock the sector's potential for grassroots development and economic empowerment.
- The 10th National Cooperative Summit and Exhibition will bring together stakeholders to discuss measures to reposition the sector and enhance its contribution to national economic development.
- The summit aims to produce actionable recommendations that could guide government policy and legislative reforms in the cooperative sector.
