Kwali Cooperative Seeks N10m For Expansion

Kwali Vision and Mission Multipurpose Cooperative Societies Ltd has marked its first anniversary with an award presentation and the launch of a N10 million fundraising drive aimed at developing its newly acquired land and expanding financial support to members.

At the event, Hon. Asogwa Peter Chinedu, president of the cooperative, said the organisation was founded to alleviate members’ financial burdens through accessible loans, welfare support, and business development initiatives.

“What inspired the establishment of Vision and Mission Multipurpose Cooperative is the need for people with business-minded goals to come together, support one another, and ease their burdens. In one year and four months, we have contributed what we can to grow our businesses and support our members,” Chinedu said.

Chinedu highlighted key achievements, including the acquisition of a parcel of land, the provision of small business loans, and business education for traders in Kwali and surrounding communities.

“We have assessed a portion of land, and today’s fundraising is to kickstart development. Members can access loans more easily here than in banks, helping them grow their businesses,” he added.

Chinedu also called for government support, particularly in education and funding, to help the cooperative expand its reach and services.

The cooperative used the occasion to honour community leaders for their contributions. Among them were the chairman of Kwali Area Council and traditional ruler ESU Kwali, recognised for their leadership and support for grassroots development.

“A community without a leader cannot grow. These leaders have empowered youths and supported community projects, and we are proud to acknowledge their contributions,” Chinedu said.

Chinedu urged members to use cooperative loans strictly for business purposes. “Do not take loans for marriages, burials, or personal expenses. Use them to grow your businesses, repay with our minimal 1.5% interest, and qualify for more support,” he said.

Members praised the cooperative’s approach. Catechist Wilfred Mary Ezeliorah said his personal project had progressed thanks to cooperative loans and support.

“Since joining, I have benefited a lot. Many people have advanced their businesses because of the cooperative’s small-interest loans and focus on members’ welfare,” he said.

Ezeliorah encouraged the leadership to expand membership in the second year. “We are about 30 members now, but I believe we can grow to 50, 60, or even 100 members as we move into year two,” she said.

Speaking on the cooperative’s progress, Hon. Udekwe Simon (Ebubedike Ndigbo) described the association as “remarkably promising” in its first year.

“I am a businessman and have worked with many cooperatives here and in Abuja. If business-minded people work hand in hand, even in a short span, there will be remarkable progress,” he said.

He also advised the cooperative to remain mindful of the country’s economic realities.

“Given Nigeria’s current economic situation, with banks moving toward digital business, I encourage the leadership to cut costs wherever possible to achieve the growth the cooperative requires,”Simon said.

Chairman Line, Chukwudi Maaguata said cooperatives like Vision and Mission play a critical role in community development by teaching members financial discipline and responsible business practices.

“Cooperatives help people grow and plan well. Members contribute money, and loans are given strictly for business purposes. This ensures that the cooperative fund remains sustainable,” he said.

Maaguata stressed the importance of transparency and record-keeping.

“Whatever is done with members’ money must be accounted for. Loans are issued only to qualified members who meet all criteria, and the money must be used properly. This way, the cooperative remains strong, and members continue to trust the system,” he said.

He used the broom analogy to explain collective strength: “As the adage says, a broom is easy to break when single, but strong when together. Cooperation allows members to plan, grow, and achieve goals they cannot achieve alone.”

CEO Chinedu Adowu of Adofam Pharmacy Ltd, Kwali, one of the awardees, expressed appreciation for the recognition.

“The cooperative members are mostly my customers and friends. They have supported and promoted my business, which is why I am where I am today,” he said.

Adowu also reflected on his contribution to the cooperative’s success. “Sometimes you do not realise the impact you make, but people around you recognise it. The cooperative encouraged me, recommended me, and acknowledged my efforts,” he said.