Niger Delta
Senator Floats Co-Operative Society For Constituents
The senator representing Akwa Ibom South Senatorial District,Sen. Helen Esuene, has announced the establishment of a cooperative society, aimed at empowering her constituents and reducing poverty in the area.
Esuene, who announced the take-off of the scheme, in an interview in Eket, Akwa Ibom, said membership of the society was open to individuals and groups.
She said the society, Reviera Cooperative, would engage in wholesale trading, distributorship and production of basic household items, adding that a 10-member board of trustees would oversee it activities.
Esuene said the cooperative was to drive her passion to empower her constituents, especially women and youths, adding that it would operate as a business and bring returns to the members.
According to her, members of the cooperative will be required to contribute 50 per cent of their desired equity and will draw profit from the business at that ratio.
“I will provide accommodation and warehouse for the society, pay staff wages and provide an additional share for every one share purchased, up to a certain limit, for individuals and organisations.
“All the logistics have been put in place and an individual requires an investment of at least one unit of N10,000 to register, and for every unit of investment, I will underwrite another unit,” the legislator said.
On the financial strength of the society, Esuene said that its capital-base would depend on the level of participation in the scheme.
She said that before establishing the society, she consulted widely within the constituency to enable her identify their priorities, rather than impose one on them.
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