The Federal Ministry of Agriculture and Food Security said it will overhaul the agricultural cooperative system to enable it deliver its mandate effectively in line with the Renewed Hope Agenda of the federal government.
Minister of state for agriculture and food security, Sabi Abdullahi stated this in Abuja when he flagged-off the distribution of farm inputs to the cooperative farmers.

He said that the repositioning will create a cooperative sector that is trustworthy, transparent, and accountable to demonstrate the transformative power of cooperation in improving lives and communities through agriculture.

The minister acknowledged that the current cooperative laws are outdated and have not kept pace with recent dynamics, leading to a decline in trust and participation.
According to him, the revamp will address these issues head-on, with a focus on updating legislation, promoting transparency, and rebuilding trust within the cooperative movement.
One of the critical aspects of the proposed reforms, the minister said, is to protect Nigerian farmers from fraudulent practices by unscrupulous cooperatives.

He also expressed concern about citizens being scammed by so-called cooperatives which he added, “We must put an end to this, our focus is on strengthening cooperative regulation to ensure that only duly registered cooperatives can operate”.

He said, “Furthermore, ongoing evaluation and assessment will be conducted to maintain compliance. Licences will be withdrawn from those not adhering to ethical practices.”
We already have a budget line this year to review all laws in the Federal Ministry of Agriculture and Food security sector, so that those that require amendments will be done, the cooperative law received the last amendment in 2004”.

“We need to ensure that regulation of cooperatives is properly done. A situation where Nigerians are being scammed by so called cooperatives, we have to stop we’re going to do all we can to strengthen cooperative regulation.

It is time to ensure that our cooperative efforts work for the citizens of Nigeria. Let us build a robust cooperative sector that empowers our farmers and contributes to our nation’s prosperity”, the minister added.