By Wilbet Ijeoma
ASABA/Nigeria: The National Orientation Agency Farmers Multipurpose Cooperative Society (NOAFMCS) recorded an almost 200 per cent increase in net surplus in its 2025 financial year as members renewed the mandate of Mrs. Patricia Umunna to lead the cooperative for another term.
The financial performance and election of a new management committee were the major outcomes of the society’s 11th Annual General Meeting held at the National Orientation Agency Hall, Federal Secretariat, Asaba.
Presenting the cooperative’s annual stewardship report, Umunna attributed the improved financial performance to prudent management of resources, transparency in operations and the commitment of members of the outgoing executive committee.
Despite the positive financial results, she said the cooperative continues to face challenges, including a declining membership base caused by staff retirements, delays in the remittance of members’ deductions, rising dependence on online loan platforms and difficulties in recovering loans.
The issues formed part of deliberations at the meeting, where members called for measures to strengthen the cooperative’s financial sustainability and expand its membership.
Representing the President of the Oshimili I Cooperative Union, Mr. Andy Enwema urged members to avoid excessive borrowing from online lending platforms, noting that such facilities often expose borrowers to unfavourable repayment conditions. He encouraged members to make greater use of the cooperative’s loan scheme.
Members also endorsed the continuation of cash payments in place of end-of-year gift items, with the executive explaining that the arrangement gives beneficiaries the flexibility to meet their individual needs.
During the meeting, Comrade Abel Johngold advocated a more inclusive welfare policy by extending seasonal soft loans to members of all faiths during their respective religious celebrations. He later moved the motion for the dissolution of the outgoing executive committee after commending its stewardship.
Following the election conducted by representatives of the parent cooperative union, Umunna was returned as President. Mrs. Ngozi Onyema was elected Vice President, Mrs. Florence Nwabuzor emerged Secretary, Mrs. Sarah Owere was elected Treasurer, while Comrade Wilbet Ijeoma was returned as Executive Member.
Speaking on behalf of the newly elected officers, Umunna thanked members for the renewed confidence placed in the executive and pledged to consolidate the cooperative’s financial gains while introducing initiatives aimed at improving members’ welfare and expanding participation.
The Delta State Director of the National Orientation Agency, Mrs. Tracy Ikolomi, congratulated the newly elected executive committee and urged it to build on the society’s recent achievements. She expressed concern over the low turnout at the annual meeting despite the cooperative’s membership spanning the state’s 25 local government areas and recommended the adoption of virtual participation for future meetings to improve attendance.
Ikolomi also called for a renewed membership drive to encourage newly recruited staff of the agency to join the cooperative and replace members who had exited following retirement, describing membership growth as essential to sustaining the society’s progress.
