A new chapter in the economic development of Ijesaland was opened on Monday as the Ijesaland Community Development Assembly (ICDA) officially launched the Ijesaland Cooperative Society (ICS) and disbursed ₦64 million in seed funding to cooperative societies across the region.
The launch of the Ijesaland Cooperative Society marked the culmination of months of strategic planning and persistent engagement led by the Chairman of the Ijesa Community Development Assembly (ICDA), Asiwaju Olayinka Fasuyi. Determined to create sustainable economic opportunities for Ijesa entrepreneurs, artisans, farmers and traders, Fasuyi championed the initiative from conception, working closely with the Osun State Ministry of Cooperatives and Empowerment and securing the support of the Paramount Ruler of Ijesaland, His Imperial Majesty, Owa Clement Adesuyi Haastrup. Those efforts culminated in the mobilisation of a ₦64 million seed fund by the ICDA, which was matched with another ₦64 million by the Osun State Government, creating a ₦128 million cooperative empowerment fund for communities across Ijesaland.
The landmark event, held at the Oba Adekunle Aromolaran Civic Centre within the Owa's Palace, Ilesa, attracted traditional rulers, government officials, community leaders, cooperative members and prominent sons and daughters of Ijesaland, all united by a shared vision of grassroots economic transformation.
From the early hours of the day, representatives of cooperative societies from the 64 wards across the six local government areas of Ijesaland arrived in colourful attire, creating an atmosphere of celebration and optimism. The programme commenced with an opening prayer led by Elder Adelowo Adebiyi.
The Deputy Governor of Osun State, Prince Kola Adewusi, represented Governor Senator Ademola Jackson Nurudeen Adeleke as the Special Guest of Honour.
Also in attendance was the Osun State Commissioner for Cooperatives and Empowerment, Prince Adebayo Ogungbangbe, who led officials of the Ministry of Cooperatives and Empowerment. Other dignitaries included the Elegboro of Ijebu-Jesa, Oba Olufemi Agunsoye; the Owaloko of Iloko-Ijesa, Oba Akeem Ogungbangbe; the Alamuye of Amuye-Ijesa, Oba Dr. Bayo Faforiji; the Alaa of Ilaa-Ijesa, Oba Dr. Adewale Ojarotade; the Obanla of Ilesa, High Chief Ibitoye; the Oloronidoka of Idoka; Yeyerise Hannah Bolanle Ojo; the Odole of Ilesa, High Chief Mokanjula Afolabi; and Lady Dupe Ajayi-Gbadebo, Chief of Staff to the Owa Obokun.
Chief Akin Olatunbosun, Chairman of the Ijesaland Cooperative Society, welcomed guests and coordinated the proceedings before inviting the Chairman of the ICDA, Asiwaju Olayinka Fasuyi, to deliver the keynote address.
Cooperative Initiative Born Out of Economic Concern
In his address, Asiwaju Fasuyi described the launch of the Ijesaland Cooperative Society as a significant milestone in the collective effort to restore economic prosperity and reposition Ijesaland as a hub of enterprise, innovation, productivity and shared prosperity.
He explained that the initiative originated from strategic engagements between the ICDA and the Osun State Ministry of Cooperatives and Empowerment following growing concerns over the displacement of Ijesa indigenes from commercial activities in their own homeland.
According to him, extensive consultations with the Ministry and the endorsement of the Paramount Ruler of Ijesaland culminated in the establishment of the Ijesaland Cooperative Society as a sustainable platform for grassroots economic empowerment.
He disclosed that the ICDA subsequently embarked on sensitisation campaigns across all 64 wards in Ijesaland, encouraging communities to establish cooperative societies as vehicles for economic development.
Fasuyi announced that 29 wards successfully completed the registration process and qualified for the first phase of the programme, while the remaining 35 wards would receive their seed funds upon meeting the registration requirements.
He emphasised that the initiative is designed to expand access to finance, promote entrepreneurship, encourage wealth creation, strengthen indigenous businesses, create jobs and stimulate sustainable economic growth across Ijesaland.
The ICDA Chairman also outlined the conditions guiding participation, stressing that beneficiaries must be Ijesa by origin, utilise the revolving loan exclusively for productive ventures and comply with periodic monitoring and evaluation to ensure accountability and business growth.
He expressed appreciation to members of the ICDA whose financial contributions made the initiative possible and acknowledged the support of the Paramount Ruler, the Osun State Government, the Ministry of Cooperatives and Empowerment and the leadership of the Ijesaland Cooperative Society.
Calling for sustained collaboration, Fasuyi urged Ijesa sons and daughters at home and in the diaspora to support the initiative, expressing confidence that it would reduce poverty, improve household incomes and reposition Ijesaland as a leading centre of commerce and enterprise.
Royal Fathers Commend Initiative
Delivering goodwill messages, the Elegboro of Ijebu-Jesa, Oba Olufemi Agunsoye, praised the vision behind the initiative and urged beneficiaries to repay their loans promptly so that more communities could benefit from the revolving fund.
Similarly, the Owaloko of Iloko-Ijesa, Oba Akeem Ogungbangbe, commended the leadership of the ICDA for championing community-driven development. He highlighted some of the Assembly's notable achievements, including the construction of the new Owa's Palace, the Geriatric Centre and the Health Insurance Scheme for the elderly, describing economic empowerment as the foundation of sustainable community development.
Yeyerise Hannah Bolanle Ojo also encouraged beneficiary communities to make judicious use of the opportunity provided by the cooperative scheme.
Representing the Owa Obokun of Ijesaland, the Alamuye of Amuye-Ijesa, Oba Dr. Bayo Faforiji, described the initiative as a transformative intervention capable of changing the economic fortunes of Ijesaland. He commended the partnership between the ICDA and the Osun State Ministry of Cooperatives and Empowerment and reminded beneficiaries that cooperative loans should be repaid according to agreed schedules to ensure the sustainability of the programme.
Government Pledges Continued Support
The Osun State Commissioner for Cooperatives and Empowerment, Prince Adebayo Ogungbangbe, commended Asiwaju Olayinka Fasuyi for his vision and assured participants that the Ministry would closely monitor the operations and progress of each registered cooperative society to guarantee the success of the initiative.
In his remarks, Deputy Governor Prince Kola Adewusi applauded the programme, describing it as a practical demonstration of partnership between government and communities.
He noted that cooperative societies remain one of the most effective instruments for grassroots economic empowerment and encouraged beneficiaries to channel the funds into productive ventures capable of improving livelihoods.
The Deputy Governor also appealed to residents to reject political violence and urged the organisers to recognise outstanding cooperative societies as a way of encouraging excellence and healthy competition.
He announced a counterpart matching fund of N64 Million to all the 64 wards and disclosed that the Osun State Government had previously disbursed ₦140 million across the six local government areas of Ijesaland under its cooperative programme and reaffirmed the government's commitment to supporting initiatives that promote financial inclusion and community development.
₦64 Million Disbursed
The high point of the ceremony was the presentation of the Certificate of Registration of the Ijesaland Cooperative Society (ICS), followed by the symbolic presentation of ₦1 million seed fund cheques to cooperative societies from the 29 wards that successfully completed the registration process in the first phase of the initiative.
The remaining 34 wards will receive their seed fund cheques upon the completion of their registration formalities. Their executive committee members have been directed to report to the ICDA Secretariat on Orinkiran Street, Ilesa, to collect their registration certificates and cheques once the registration process has been duly concluded.
The presentation, jointly performed by Deputy Governor Prince Kola Adewusi and Asiwaju Olayinka Fasuyi, drew enthusiastic applause as representatives of the beneficiary wards received their cheques.
A total of ₦29 million was disbursed during the event. The revolving loan facility is expected to support business expansion, vocational development and enterprise growth among cooperative members.
Responding on behalf of the beneficiaries, a representative expressed appreciation to the ICDA leadership and pledged that the funds would be prudently managed to achieve the objectives of the programme.
A Bold Step Towards Economic Renewal
Participants described the initiative as one of the most significant grassroots economic interventions ever undertaken in Ijesaland, expressing optimism that it would stimulate entrepreneurship, strengthen indigenous businesses and create sustainable opportunities for future generations.
With the successful launch of the Ijesaland Cooperative Society and the first phase of seed fund disbursement, stakeholders believe Ijesaland has taken a decisive step towards economic renewal, financial inclusion and sustainable community development.
For many who witnessed the ceremony, the event represented far more than the presentation of certificates and cheques -it symbolised the beginning of a collective movement to rebuild local enterprise, empower communities and secure a more prosperous future for the people of Ijesaland.
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(Coverage, script, camera 📸 Credit: Oladimeji Lasore, +2347035105413, [email protected])
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