The Abuja Chamber of Commerce and Industry (ACCI) has called on individuals, entrepreneurs and organisations across Nigeria to embrace the cooperative model as a practical tool for achieving financial inclusion, business growth and economic resilience.
The Chamber made the call on Saturday as it joined the global community in commemorating the International Day of Cooperatives, reiterating its commitment to promoting cooperative enterprise as a vehicle for inclusive economic development and shared prosperity.
President of the ACCI, Chief Emeka Obegolu, described cooperative societies as critical institutions that have continued to empower individuals and businesses through collective ownership, mutual support and access to affordable financial services.
According to him, cooperatives have become increasingly relevant in addressing economic challenges by helping members mobilise savings, access credit and build sustainable livelihoods.
Obegolu said the Chamber is committed to strengthening cooperative initiatives within its structure as part of efforts to improve the welfare of members and staff while contributing to broader national economic development.
He noted that a thriving cooperative movement complements government policies aimed at promoting entrepreneurship, creating jobs and expanding wealth creation opportunities.
Also speaking, the ACCI Vice President (Finance) and Chairman of the ACCI Multipurpose Cooperative Society, Dr. Iliyasu Gashinbaki, said cooperative societies remain one of the most effective platforms for promoting financial discipline and improving members’ socio-economic well-being.
He explained that the ACCI Multipurpose Cooperative has consistently provided members with accessible savings schemes, credit facilities and other financial services designed to improve business sustainability and personal financial stability.
Gashinbaki urged entrepreneurs, professionals and organisations yet to join cooperative societies to take advantage of the model’s benefits, stressing that pooling resources enables members to access financing more easily and pursue common economic goals.
He added that the long-term success of any cooperative depends on transparency, prudent management, trust and active participation by members.
The Director General of the Chamber, Agabaidu Jideani, reaffirmed the institution’s support for the ACCI Multipurpose Cooperative, describing cooperatives as strategic partners in advancing financial inclusion and improving productivity.
He commended the cooperative’s leadership for its commitment to members’ welfare and assured that the Chamber would continue to provide institutional support, strengthen governance structures and encourage wider participation among staff and members.
The Chamber noted that the annual observance of the International Day of Cooperatives highlights the global contributions of cooperative enterprises to poverty reduction, sustainable development and social cohesion.
