Over 350 participants from 180 cooperative societies gathered at Novatel Hotel Lekki, Lagos, from December 4 to 7, 2025, for the 2025 LASCOFED Cooperative Leaders’ Conference. The conference, themed “Cooperatives Build a Better World,” emphasized the need for cooperative societies to adapt to modern technologies and foster partnerships to drive growth and sustainability.
In his goodwill message, ICA-A President High Chief Oriyomi Ayeola urged cooperators to be politically active and seek elective positions to influence decisions that benefit the cooperative movement. “Government-cooperative partnership is crucial in instituting a Cooperative Development Fund to support cooperative growth and development,” he said.
Speakers at the conference highlighted the importance of digitalization, with Mr. Hakeem Adeniji noting that only about 45 cooperatives have digitalized systems of operation in Lagos State. “Cooperative societies should embrace fintech and scale up from traditional operating systems to tech-driven systems for efficient, transparent digital cooperative operations,” he said.
The conference also discussed the impact of the 2025 tax reform on cooperative societies, with Mr. Lanre Ariyo advising cooperators to view the reform as an opportunity for growth and legitimacy rather than a concern.
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In a communiqué, the conference recommended that regulators make it mandatory for cooperative societies with an asset base exceeding N10 million to digitalize their operations. The communiqué also called for the screening and registration of tech vendors to certify efficient and cost-effective software for cooperatives.
Barr Oladipo Shobule, President of LASCOFED, emphasized the need for cooperative societies to prioritize digitalization and partnerships to drive sustainability. “The future of the cooperative business model depends on its ability to adapt to new technologies and tackle modern challenges while staying true to its people-oriented, democratic policies,” he said.