By Cajetan Mmuta, Awka
The Anambra state Governor Prof. Chukwuma Soludo has harped on the importance for citizens of the state and Nigerians in general to explore and exploit the huge investment potentials as well as benefits of multi purpose cooperative societies.
He said that such investments has enormous benefits to all shades of investors and businesses as members of cooperative societies participate actively in love and sincerity throughl loans and other investment opportunities.
Governor Soludo stated this during the ceremony to mark one year anniversary/launch of the Advanced Development Solutions Initiative (ADSi) Multi Purpose Cooperative Society Ltd held on Friday in Awka the state capital.
The Governor who was represented by his Chief Protocol/Deputy Chief of Staff, Chief Chinaedu Nwoye tasked members of the ADSi cooperative society to strive towards assisting each other by ensuring that the loan facility of the body goes round so that those in dire need of it would benefit and to enhance their welfare.
Speaker of the State House of Assembly, Rt. Hon Somtochukwu Udeze lauded the leadership of the organization for it’s resourcefulness and vision, which he said shares similar programmes of the present adminisyration of Governor Soludo to better the lot of Ndi Anambra’ and the nation.
Represented by Hon. Golden Iloh, the lawmaker representing Ihiala state constituency 11, Udeze pledged the partnership of members of the house to ensure sustainability and growth of the initiative for improved welfare and development of people of the state.
Chairman of the occasion, Prince Chinedu Nsofor described the ADSi Multi Purpose cooperative society Ltd as a serious movement that would boost wealth of Ndigbo as a people with global influence.
He noted that Ndigbo have made their marks in various sector such as trade, investments, industry and technology and others which stand them out on the country.
Prince Nsofor also called for strong support for the state governor for his doggedness at enthroning effective security system that has paved way for law and order, infrastructural development, and progress across the state.
Chairman of the ADSi Multipurpose Cooperative Society, Dr. Ogochukwu Soludo said the time was ripe for Nigerians and other business minded individuals to key into the profitable ventures of the cooperative society as it offers various wobows of opportunities.
He said that such investments would only be possible with the team work spirit, sustainable ideals and equity as well as credibility that galvanize the organisation and membership.
According o him, the initiative would serve as a template towards reinventing critical values that increasingly eroded the society by the day.
Dr. Soludo who is also the younger brother of Governor Charles Soludo explained that the membership of the cooperative society has grown above 600 with remarkable progress in the quest to help in building a just, progressive and equitable society through member care and ancillary support services.
According to him, we seek to redefine sustenace, member care, and accelerate grassroots mobilization and development through value added services, empowerment programs and strategic investments, all aimed at enhancing the well being and socio economic welfare of the people.
While emphasizing that the organization was registered to last year with the vision of becoming the most impactful and transformational cooperative society in Nigeria, he disclosed that the body has generated an asset base of about N44 million with N23m investment in transportation and an average target yield of N1.1m spread over 28 months.
Also, “We have given loans totaling N10m to seven members of the cooperative society; we have bought and stored some drums of pal oil we intend to sell as the price appreciates and our projections are going into commodity market, we want to be able to buy products in bulk directly from manufacturers or producers and crash the prices and make good and services available to the mass generality of our people at affordable rates.”
“As a cooperative society, I believe we can leverage on our number to bypass middle men and also bypass the influence of market associations that tend to sometimes to regulate prices and keep these things high but we crash it and then leverage on the ag old economic principle of small profit, quick turnover,” he stated.
“We are actually using this as a template to reinvent the critical values that are getting increasingly eroded by the day; values like courtesy, humility, gentleness, honesty, transparency, credibility, etc. For me, remove credibility from anything and it loses its value; whether ministry, business or leadership. Once it lacks credibility just like Jesus Christ says the salt has lost its value.”
Several other speakers commended the industry and mission of the ADSi and expresses their positive support for its success.
