News

November 28, 2019

Economy: We’ve contributed N1trn to Nigeria’s GDP in 3yrs – CRASoN

Soldiers, policemen's murder: Reps urge Army Chief, IGP to deploy more security men to Taraba

By Luminous Jannamike

The Cooperative Rating and Award Society of Nigeria (CRASoN), has said its members have contributed over One trillion Naira to Nigeria’s Gross Domestic Product (GDP) between 2016 and 2019.

Sanwo-Olu charges religious bodies on tolerance(Opens in a new browser tab)

CRASoN’s President, Mr. Victor Oyegoke  disclosed this at a national symposium on the growth of cooperative societies which held in Abuja yesterday.

He said, “Within the last three years, from our survey, players in the cooperative society subsector of the economy have contributed over one trillion naira to the GDP.

“We have over N950bn combined share capital, and have created more than 600,000 jobs, directly and indirectly for citizens of this nation.”

Oyegoke however called on the Federal Government to increase its support to the sub-sector; lamenting the neglect of cooperative societies as major drivers of microeconomic growth.

He also called for a deliberate policy to drive public enlightenment and education on the values and importance of cooperative societies as a means of economic empowerment for the people.

Meanwhile, over 40 cooperative societies and individuals received special recognition awards at the symposium for their outstanding contributions to national development within the last 12 months.

Explaining the rationale behind the awards, CRASoN’s Secretary, Victoria Akpan said the special recognition was part of efforts to celebrate those who have being exemplary in the quest for transparency and excellence in the sub-sector.

FG tasks stockbrokers to initiate policy proposal(Opens in a new browser tab)

“We are concerned with promoting cooperative identity and underscoring the contributions of cooperatives to Nigeria’s environmental sustainability and its socio-cultural and economic development,” she added.

Vanguard