By Gabriel Ewepu
ABUJA — The Federal Government on Thursday launched a ₦200 billion share capital mobilisation campaign for the proposed Cooperative Bank of Nigeria under the Renewed Hope Cooperative Reform and Revamp Programme (RH-CRRP), aimed at strengthening cooperative-driven economic growth across the country.
The initiative was unveiled by the Minister of State for Agriculture and Food Security and Supervising Minister of Cooperative Affairs, Dr. Aliyu Abdullahi, during the North-West Zonal Engagement of the Ministerial Advocacy Tour held at the Umaru Musa Yar’Adua Hall, Kaduna.
According to a statement from the Ministry, the mobilisation effort follows approval at the 8th Regular Meeting of the National Council on Cooperative Affairs.
Abdullahi said the ministry targets 10,000 cooperative societies nationwide through a tiered funding structure designed to raise the ₦200 billion capital base required for the proposed bank.
Under the arrangement, 1,000 societies are expected to contribute between ₦21 million and ₦50 million each, 3,000 societies between ₦16 million and ₦20 million, and 6,000 societies between ₦1 million and ₦15 million.
He said the proposed bank would support agricultural development, enterprise growth, financial inclusion, housing, transportation, value-chain development, and wealth creation, describing the initiative as a “movement-driven reform” rather than a government-imposed programme.
The minister also disclosed that 65 per cent of the bank’s equity would be owned by cooperative societies through the Cooperative Trust and Investment Society of Nigeria (CoopTrust), while 30 per cent would go to institutional and private investors, and 5 per cent reserved for employee ownership.
Abdullahi further announced the rollout of the National Cooperative Digital Architecture Platform (NCDAP), which includes tools such as the National Cooperative Smart Registry, Cooperative Verification Number (CVN), CoopID, and a credit system powered by CreditRegistry, aimed at modernising the sector.
He said the initiative draws inspiration from Nigeria’s historical cooperative successes in agriculture, referencing groundnut, cotton, cocoa, and palm produce cooperative models that once drove regional economies.
The minister called on cooperative federations, development partners, traditional institutions, and financial bodies to actively support the programme, noting that it is part of a nationwide advocacy tour following earlier engagements in the South-West.
He also commended Kaduna State Governor, Senator Uba Sani, for creating an enabling environment for commerce, agriculture, and innovation, and praised the Federal Cooperative College, Kaduna, for its role in advancing cooperative education.
In his remarks, Governor Uba Sani, represented by the Commissioner for Agriculture, Murtala Dabo, said cooperatives have historically played a central role in Nigeria’s socio-economic development by promoting savings, access to credit, and enterprise growth.
He added that with ongoing agricultural initiatives such as the Special Agro-Industrial Processing Zones and climate-smart farming programmes, a stronger cooperative system would be critical to improving productivity and competitiveness.
The President of the Cooperative Federation of Nigeria, Hannatu Mershak, also welcomed the initiative, saying a digitised cooperative sector would improve record-keeping, expand access to finance, and strengthen trust among stakeholders.
