From Atiku Sarki, Abuja
The Federal Government has launched a N200 billion share capital mobilisation campaign for the proposed Cooperative Bank of Nigeria under the Renewed Hope Cooperative Reform and Revamp Programme (RH-CRRP), following approval at the 8th Regular Meeting of the National Council on Cooperative Affairs.
In a statement issued in Abuja by the Head of Information and Public Relations Department, Federal Ministry of Agriculture and Food Security, Mr. Ezeaja Ikemefuna, the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Senator Dr. Aliyu Sabi Abdullahi, disclosed this during the North-West Zonal Engagement of the Ministerial Advocacy Tour held on Thursday, June 18, 2026, at the Umaru Musa Yar’Adua Hall, Kaduna.
Dr. Abdullahi said the ministry is targeting 10,000 cooperative societies across the 36 states and the Federal Capital Territory through a tiered mobilisation plan involving 1,000 societies contributing between N21 million and N50 million; 3,000 societies contributing N16 million to N20 million; and 6,000 societies contributing between N1 million and N15 million.
He said the initiative is expected to mobilise about N200 billion to establish a strong, sustainable, and nationally owned cooperative financial institution capable of supporting agricultural development, enterprise growth, financial inclusion, housing, transportation, value-chain development, and wealth creation for millions of Nigerians.
The Minister stressed that the programme was not a government project imposed on stakeholders but a movement-driven reform agenda designed to address aspirations that cooperative stakeholders have expressed for decades.
He added that the ministry had established an Inter-Ministerial Technical Committee for policy coordination and a National Steering Committee involving government agencies, apex cooperative organisations, and development partners to ensure continuity beyond the current administration.
According to him, the proposed Cooperative Bank of Nigeria will maintain cooperative ownership and identity while attracting strategic investment.
Cooperative societies will own 65 per cent equity through the Cooperative Trust & Investment Society of Nigeria (CoopTrust), 30 per cent will be available to institutional investors, development finance institutions, impact investors, and individual cooperators, while five per cent is reserved for an Employee Share Ownership Scheme.
Dr. Abdullahi also announced the rollout of the National Cooperative Digital Architecture Platform (NCDAP) to tackle data gaps in the sector.
The platform will include the National Cooperative Smart Registry (NCSR), Cooperative Verification Number (CVN), CoopID, and CoopCHECK Credit Bureau powered by CreditRegistry.
“We cannot build a modern, globally competitive cooperative economy using outdated analog systems,” he said.
The Minister recalled that cooperatives played major roles in Nigeria’s agricultural history, particularly in the North-West where marketing societies supported the groundnut pyramids, cotton industry, and hides and skins trade.
He noted that similar models also contributed to cocoa production in the old Western Region and palm produce development in the Eastern Region.
He urged the Cooperative Federation of Nigeria, state federations, unions, societies, development partners, traditional institutions, and financial organisations to fully support and mobilise members for the programme.
The Kaduna engagement followed the South-West zonal engagement held in Lagos and formed part of the nationwide advocacy tour for RH-CRRP.
Dr. Abdullahi commended Kaduna State Governor, Senator Uba Sani, for sustaining the state’s reputation as a centre of commerce, education, agriculture, and innovation, while also applauding the Provost of the Federal Cooperative College, Kaduna, Dr. Mohammed Awwal, for organising the Cooperative Education for Sustainable Development Summit 2026.
In his remarks, Governor Uba Sani, represented by the Commissioner of Agriculture, Hon. Murtala Dabo, said the cooperative movement has historically contributed significantly to Nigeria’s socio-economic development.
He noted that cooperatives have provided platforms for savings mobilisation, access to credit, enterprise development, agricultural production, and community empowerment.
The governor said strong and digitally enabled cooperatives would be critical to achieving the state’s agricultural initiatives, including the Special Agro-Industrial Processing Zone (SAPZ), Agricultural Quality Assurance Centre (AQAC), mechanisation programmes, climate-smart agriculture initiatives, and value-chain development projects.
In his welcome address, the Provost of Federal Cooperative College, Kaduna, Dr. Ibrahim Mohammad Awwal, said Kaduna’s selection for the engagement was symbolic and strategic, given the state’s history as a centre for cooperative education, training, research, and institutional development.
The President of the Cooperative Federation of Nigeria (CFN), Mrs. Hannatu Mershak, in her goodwill message, said a digitised cooperative sector would improve record management, ease access to markets and finance, and increase trust among government and development partners.