The Executive Secretary of the Nigerian Shippers’ Council (NSC), Dr. Pius Akutah, has urged members of the NSC Staff Multipurpose Cooperative Society Limited to prioritise investments in housing and other sustainable ventures to enhance their financial stability and secure long-term wealth.
Dr. Akutah made the call while addressing members during the 29th Annual General Meeting (AGM) of the Cooperative Society held on Thursday at the NSC headquarters in Lagos.
Commending the Cooperative for its impressive financial record and the unity among its members, the NSC boss emphasised the long-term benefits of property ownership. He encouraged the leadership to intensify efforts in educating staff about real estate investments.
“I didn’t get to learn the value of owning properties early. As a young man, I thought shelter was my father’s responsibility. But land and property investments are the best you can make. Properties appreciate; cars depreciate,” Dr. Akutah said.
In his address, the President of the NSC Staff Multipurpose Cooperative Society Limited, Mr. Adeyemi Olaolu, announced a net surplus of ₦156.41 million for the 2024 financial year—an increase of ₦14.56 million from the previous year’s figure.
Speaking under the AGM theme, “Sustainable Practices for Cooperative Development Amid Global Trade Wars,” Olaolu stressed the need for innovation, effective risk management, and diversification in order to maintain the Cooperative’s strength in the face of global economic uncertainties.
He also gave updates on the Cooperative’s housing projects and land acquisitions, highlighting infrastructural challenges, particularly drainage on the Mowe property, and appealed to the Council for support in addressing the issue.
Earlier in the event, the Chairman of the occasion and Acting Director of Finance and Accounts, Mr. Stephen Olaniyi—represented by Mrs. Foluke Olaleru—commended the Cooperative’s leadership for its transparency and accountability in managing members’ resources.
Other dignitaries present included the Director of Strategic Planning and Research, Mr. Rotimi Anifowose; immediate past President of the Cooperative, Dr. Bashir Ambi; and Mrs. Olubunmi Lawson, Apapa Area Officer for Cooperatives.
