In the ever-evolving landscape of the Nigerian economy, University Academic Staff Cooperatives stand at a strategic crossroads.
Traditionally known for providing loans to members, these cooperatives possess immense untapped potential to become engines of sustainable economic empowerment, self-reliance, and national development.
At CEHDEER, we advocate for the transformation of such cooperatives into robust, diversified enterprises that not only meet the immediate needs of their members but also build long-term wealth and resilience.
This shift is not merely desirable—it is necessary.
In the Nigerian environment, a University Academic Staff Cooperative can diversify its income beyond member loans by engaging in several profitable, sustainable, and context-appropriate businesses.
In engaging in businesses, it is important for the Cooperative to
- Focus on member-driven needs first (housing, food, transport, education).
- Leverage the cooperative’s collective bargaining power and pool of intellectual resources.
- Engage professionals or members with expertise to manage business arms.
- Ensure transparency, good governance, and feasibility studies before launching any venture.
Suggested below are ten categories and specific types of businesses to consider:
1. Real Estate and Property Development
- Hostel construction and management (for students)
- Affordable staff housing schemes (buy-to-let or lease-to-own models)
- Commercial property rentals (shops, office spaces, etc.)
- Land banking and sales in emerging areas
2. Agribusiness Ventures
- Crop farming (e.g., maize, cassava, vegetables) on leased or cooperative-owned land
- Poultry farming (eggs and broilers – high demand in campus communities)
- Fish farming (catfish or tilapia – popular in Southern Nigeria)
- Agro-processing (e.g., garri, palm oil, packaged grains)
3. Educational Services and Resources
- Bookshop and academic materials store
- ICT training/ centre (for students and staff)
- Private tutorial services or exam prep centres (WAEC, JAMB, etc.)
- Publishing unit (for books, journals, course packs)
4. Retail and Consumer Goods
- Campus cooperative supermarket (bulk-buying advantage)
- Foodstuff depot or farm produce outlet
- Pharmacy or health shop
- Stationery and printing business
5. Transportation and Logistics
- Staff and student transport shuttle services
- Vehicle hire or cooperative taxi service
- Motorcycle/tricycle investment for rentals (okada/keke)
6. Hospitality and Events
- Catering and event services
- Guest house or short-let apartments for visiting academics
- Restaurant or cooperative canteen
7. Renewable Energy and Utilities
- Solar panel supply and installation service
- Recharge card and data vending outlet
- Water production (pure/bottled water factory)
8. Technology and Digital Services
- Cybercafé and printing/laminating/scanning services
- Mobile device accessories and repairs store
- E-learning platforms or app development partnerships
9. Investments and Financial Services
- Micro-investment schemes for members (e.g., stock market, treasury bills)
- POS cash services and mobile banking
- Partnerships with fintech platforms for wallet-based savings/credit systems
10. Waste Recycling and Environmental Services
- Waste collection and recycling business
- Composting plant or biofertilizer production – referring to a business that converts organic waste into valuable agricultural inputs like fertilizers. It’s both profitable and environmentally friendly, especially suitable for cooperatives located in agricultural or academic communities.
Final Thoughts
As a Centre dedicated to human capital development, CEHDEER strongly encourages academic cooperatives to think beyond traditional roles. With sound planning, clear accountability, and member buy-in, these cooperatives can become powerful instruments of national transformation—one viable enterprise at a time.
Let us reimagine cooperative societies as platforms not just for credit access, but for community-driven prosperity, educational advancement, and entrepreneurial innovation.
Together, we can build an inclusive economy—right from the heart of our universities.