…charges members to imbibe savings/ investment culture
The Waterfront Boat Owners and Transporters Association (WABOTAN) Cooperative Multipurpose Society Limited has upgraded its share capital value from N10 million to N20 million, even at it charged members and industry stakeholders to imbibe the culture of savings and investments.
Speaking during the annual celebration of the World’s Cooperative Day held at the association’s headquarters in Lagos over the weekend, the President of WABOTAN Cooperative Multipurpose Society, Chief Raymond Gold, stated that all shareholders entitled to not less than 25,000 units and not above 500,000 units.
According to Chief Gold, the association which was inaugurated on the 19th of November, 2023, is working in line with the first three Social Development Goals (SDGs) which are; No Poverty, Zero Hunger and Good Health.
He, however, added that the society has embarked on a Food Share programme where it would partner with local food manufacturers and farmers in providing food items and livestock for members to buy at cheap prices below market rate.
The Cooperative President said the group has started engaging food manufacturers such as; Flour Mills of Nigeria and others to serve as distributors in order to create wealth for the society and also provide basic food items for its members. Other initiatives of the society include Assets acquisition and Empowerment programmes for members amongst others.
Chief Gold encouraged prospective members to the society, adding that it is also open to other stakeholders who have related businesses with the activities of the association.
He noted that the registration fee for boat owners is N10,000 while other relevant stakeholders and members such as fishermen and boat operators will pay N5,000 to join the Cooperative Society.
While delivering a keynote lecture themed: “Cooperative as a way of Building Sustainable Wealth in Today’s World”, the Apapa Area Office Assistant Chief Registrar of Cooperative, Mrs Adebukola Ajiroba elucidated on the importance of savings and investments amongst members of the Cooperative society.
Mrs. Ajiroba noted that the activities of the cooperative society is aimed at providing dividends, empowerment, food security and nutrition for members.
While encouraging the executives of the Cooperative society to be transparent in their activities, she informed that there are several loan benefits from the state government to eligible Cooperative Societies and their members.
On his part, the National President of WABOTAN, Comrade Babatope Fajemirokun urged all members to seize the golden opportunities provided by the cooperation society for their financial empowerment and wealth creation.
He also promised that under his leadership the association will continue to give the Cooperative Society its support for human capacity development.
The Chairman, Board of Trustees (BoT), WABOTAN Cooperative Society, Comrade Paul Ngwan enjoined all members to preach the benefits of the society to other boat operators and stakeholders at the various jetties in Lagos and beyond. He also urged them not only depend on the shares but pull resources together to ensure the society becomes very buoyant and profitable.
Also speaking, a member of the BoT, Comrade Owolabi Omotayo called for the full support of the Lagos State Government to provide incentives and loan benefits to members of the society.