Cooperative societies in Lagos State have urged governments at all levels to provide greater financial support and promote the use of technology to improve the sustainability and economic impact of the sector.

The call was made on Saturday at the 2026 Joint Cooperative Unions Retreat in Ajah, Lagos, organised under the theme, “Building Resilient and Sustainable Cooperatives.”

President of the Ikeja Multipurpose Cooperative Union, Lanre Ariyo, identified inadequate access to finance as a major obstacle limiting the ability of cooperative societies to effectively serve their members and expand their operations.

According to him, stronger financial support would enable cooperatives to meet members’ needs while pursuing their organisational objectives.

Ariyo also appealed to cooperative leaders to remain focused on their responsibilities and develop strategies capable of strengthening their societies despite the challenges confronting the movement.

He further called for a new generation of purposeful leadership, urging leaders within the sector to adopt approaches that would produce stronger and more effective cooperative institutions.

Also speaking, President of the Lagos State Cooperative Federation, Oladipo Shogunle, said the cooperative movement could no longer rely solely on the traditional model of savings, thrift and credit.

He said modern cooperatives must operate with a business-oriented mindset, embrace technology and explore productive ventures capable of generating additional revenue for members and their societies.

Shogunle stressed that cooperatives should be positioned not only as platforms for savings and lending but also as viable economic enterprises that could contribute to members’ welfare and broader economic development.

The Chairman of Orile-Agege Local Council Development Area, Akinola Abiodun, called for stronger collaboration between local governments and cooperative societies, particularly in promoting entrepreneurship and economic opportunities at the grassroots.

Abiodun said cooperative platforms could also serve as effective channels for delivering government programmes and interventions to residents, thereby improving their economic prospects.

Similarly, a lecturer in the Department of Business Administration at Lagos State University, Prof. Tijani Adekunle, highlighted innovation, technology and increased youth participation as critical to the future of the cooperative sector.

Adekunle said cooperative societies needed to identify technologies suited to their operations and deploy them to improve productivity, efficiency and business performance.

He also identified insecurity as a major threat to economic activities, noting that improved protection of lives and property would strengthen confidence among entrepreneurs and investors.

The retreat attracted cooperative unions and stakeholders from Ikeja, Agege, Alimosho, Onigbongbo, Alausa, Igando/Ikotun, Ifako/Ijaiye and Apapa.