The President of Amazing Grace Co-operative, Dr. (Mrs) Apollonia Onyemaechi Eke, has said that entrepreneurs who are the oxygen of the economy grow faster as co-operatives.
Eke in an interview with The Tide said Amazing Grace Co-operative that is over 21 years with one million membership has empowered and aided the growth of many Small and Medium Enterprises (SMEs).
She noted that the essence of co-operatives is to empower and benefit the businesses of her members, adding that growing as an individual enterprise exposes one to limitations, especially in the area of accessing funds.
Amazing Grace Co-operative she said has empowered many businesses and entrepreneurs and are currently joining forces with iEBS Matrixx and Victorious Flourish Co-operatives to empower more businesses to survive the challenges of Covid-19.
The President retereited that co-operatives can secure loans for their members and also do businesses that would yield interest as well as secure grants for business growth.
“The powers of co-operatives cannot be over- emphasised and the essence of joining hands together is to achieve better results in empowering as many Nigerians as possible.
“The problem of giving out loans by banks is recovery but this problem can be solved if the entrepreneurs come as co-operatives”, she said.
In his contribution, the Senior Registrar of Co-operatives Societies, Ministry of Commerce and Industry, Rivers State, Mr. Charles Nwabuike said, “Co-operative society means the coming together of people or entrepreneurs to work as a team to improve their social and economic lives.
“Co-operative is the vehicle to use and create whealt in the atmosphere where there are setbacks and poverty, especially this present time in the history of the nation’s economy”.
He said the duty of the ministry is to ensure that co-operatives carry out their operations as enshrined in the law regulating their activities.
Nwabuike also expressed concern that, “there is knowledge Gap in the operations of some co-operatives in the state, which the ministry is working hard to regulate.
“Co-operative activities in Nigeria is not doing badly but there is much to still achieve. There is also room for improvement for us to meet up with other countries”.

By: Lilian Peters