Lagos State Generates Highest Revenue - CFN, Cooperatives | Duduspree FM Radio
By Cypher Ilerioluwa

Duduspree News, Texas

The president, the Cooperative Federation of Nigeria, Ayeola Oriyomi, has said that the cooperative sector provides the highest Gross Domestic Product to the Lagos State revenue.

He revealed this on Friday at the Medicals (Lagos Island) Cooperative Society inauguration of passenger boat services.

He said, “I commend LASCOMED for this initiative. The passenger boat service is a value-added service provided by the cooperative for the betterment of not only their members but also the people of Lagos State.“

Of course, the Lagos State government is trying but they can still do better in terms of aiding and assisting the movement to do more. They are aware that cooperatives manage resources better than any other sector. We are starting with two boats now, if we have a relationship with the government, we will be having 10 to 30 ferries and this is going to have multiple effects on the economy of Lagos State.

“I can tell you that for all sectors in Lagos State, the cooperative sector is providing the highest to the GDP of Lagos and I can confirm that too.”

Speaking at the event, the Special Adviser to the Governor on Commerce, Industry and Cooperative, Abiola Olowu, stated that the government was in support of cooperatives and had an intended agenda for them.

He said, “The Lagos State government is encouraged by this feat today and we hope other cooperatives will follow suit as the investment is bound to yield good results and will contribute in no small measure to the economy of the state.”

“There is a programme on (the) ground, the memo has already been submitted to Mr Governor, and I pray that before the end of the year we get the approval. I decline to mention what it is but it is a supportive memo for cooperative societies.”

According to the president, LASCOMED, Mosidat Oshodi-Bakare, the investment in water transport was considered because of the challenges of heavy traffic on the roads. While appealing to the government to help them, she added that the cooperative had spent a lot and still had other plans for the entire public.

She said, “This investment in water transportation was undertaken because of challenges of heavy traffic that most workers face on our roads to and from work.“

We call (on) Lagosians to patronise our ferries, which are relatively cheap, and introduce us to their friends and families.

“We call on Lagos State to grant us financial help and we will return their money with interest.”

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Cypher Ilerioluwa is a skilled and experienced professional in social media management, blogging, content creation, animation and web design.

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