Historical development of cooperative in Nigeria?

1908: The first cooperative society in Nigeria was established in 1908, known as the Oshogbo Cooperative Thrift and Credit Society.

1917: The Cooperative Societies Ordinance was enacted, providing a legal framework for the establishment and regulation of cooperative societies in Nigeria.

1935: The Cooperative Societies Ordinance was revised to further encourage the formation and growth of cooperative societies.

1950: The Cooperative Bank of Nigeria Limited was established to provide financial services to cooperative societies.

1978: The National Cooperative Development Policy was launched to provide a blueprint for the development of cooperatives in Nigeria.

1988: The National Cooperative Finance Agency (NCFA) was established to provide financial assistance to cooperative societies.

1999: The National Cooperative Policy was revised to align with the changing economic and social environment.

2004: The Nigerian Cooperative Societies Act was enacted to provide a more comprehensive legal framework for the cooperative movement in Nigeria.

2018: The Federal Ministry of Agriculture and Rural Development launched the Cooperative Transformation Agenda (CTA) to revitalize the cooperative movement in Nigeria.

Today, there are over 100,000 cooperative societies in Nigeria, with a membership of over 30 million people. Cooperatives play a significant role in the Nigerian economy, particularly in the areas of agriculture, finance, housing, and consumer goods.