The Nigerian Government has unveiled a ₦200 billion share capital mobilisation initiative to facilitate the establishment of the proposed Cooperative Bank of Nigeria under the Renewed Hope Cooperative Reform and Revamp Programme (RH-CRRP).
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 in Kaduna, the Kaduna State capital.
Dr Abdullahi revealed that “the Ministry is targeting 10,000 cooperative societies across the 36 states and the FCT through a tiered mobilisation plan: 1,000 societies at ₦21 million–₦50 million, 3,000 at ₦16 million–₦20 million, and 6,000 at ₦1 million–₦15 million.”
The Minister stated: “Through this collective effort, we aim to mobilise approximately ₦200 billion and 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.”
He emphasised:”This programme is not a government project imposed from above. It is a movement-driven reform agenda that seeks to give life to aspirations that cooperative stakeholders have expressed for decades.
“To ensure continuity beyond the current administration, the Ministry has established an Inter-Ministerial Technical Committee for policy coordination and a National Steering Committee with MDAs, apex cooperative organisations, and development partners. The Federal Department of Cooperatives has also assigned dedicated desk officers to each of the seven strategic pillars of RH-CRRP.”
According to him:“The proposed Cooperative Bank of Nigeria will preserve cooperative control and identity while attracting strategic investment. Sixty-five per cent of equity will be owned by cooperative societies through the Cooperative Trust & Investment Society of Nigeria (CoopTrust). Thirty per cent will be open to institutional investors, development finance institutions, impact investors, and individual cooperators. Five per cent is reserved for an Employee Share Ownership Scheme.”
He further revealed: “The Ministry is rolling out the National Cooperative Digital Architecture Platform (NCDAP) to address data gaps. Key components include the National Cooperative Smart Registry (NCSR), Cooperative Verification Number (CVN) and CoopID, and the CoopCHECK Credit Bureau powered by CreditRegistry.”
He added: “We cannot build a modern, globally competitive cooperative economy using outdated analog systems.”
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The Minister recalled that cooperatives were instrumental in Nigeria’s major agricultural successes in the past. He noted that, in the North-West, marketing societies organised farmers and contributed to the growth of the groundnut pyramids, cotton industry, and hides and skins trade. Similar cooperative models, he said, drove the cocoa economy in the former Western Region and the palm produce industry in the former Eastern Region.
He called on the Cooperative Federation of Nigeria, state federations, cooperative unions, societies, development partners, traditional institutions and financial institutions to mobilise their members and fully support the programme.
He commended Kaduna State Governor, Senator Uba Sani, for sustaining the state’s legacy as a centre of commerce, education, agriculture and innovation, noting that his commitment to security and social inclusion provides a strong foundation for the successful implementation of the RH-CRRP.
He also lauded the Provost of the Federal Cooperative College, Kaduna, Dr Mohammed Awwal, for spearheading the Cooperative Education for Sustainable Development Summit 2026, scheduled to hold from 18 to 19 June 2026 in Kaduna.
“Together, let us restore the cooperative movement to its rightful position as one of the most powerful instruments for economic transformation, social inclusion, and shared prosperity in Nigeria.”
In his remarks, Kaduna State Governor, Senator Uba Sani, represented by the Commissioner for Agriculture, Hon. Murtala Dabo, said:
“The cooperative movement has historically played a vital role in Nigeria’s socio-economic development.”
In his welcome address, the Provost of the Federal Cooperative College, Kaduna, Dr Ibrahim Mohammad Awwal, stated:
“We are particularly delighted that Kaduna has been selected to host this important engagement. Kaduna occupies a unique place in the history of cooperative development in Northern Nigeria and remains a major centre for cooperative education, training, research and institutional development. The choice of Kaduna for this engagement is therefore both symbolic and strategic.”
