The Lagos State Government has unveiled a cooperative society for the residents of the state as part of the initiatives aimed at enhancing financial inclusion and access to healthcare, especially for people in the informal sector.
Tagged ‘Ilera N’ Tiwa Cooperative and Multipurpose Society Limited,’ the initiative is designed to address challenges such as low purchasing power, lapsed health insurance policies, and limited access to quality healthcare.
Speaking at the flag-off ceremony of the cooperative initiative, the Board Chairman of the Lagos State Health Management Agency (LASHMA), Bayo Adewale, said the programme aligns with the Lagos State Health Scheme (LSHS) law and the National Health Insurance Authority (NHIA) Act, mandating social health insurance for all residents.
He said: “By allowing members to pay premiums flexibly while providing economic benefits like loans and discounted food supplies, the initiative aims to alleviate financial barriers to healthcare and foster a wellness-oriented culture.
“The cooperative prioritises health while integrating social and economic benefits. It will provide a platform for financial support, entrepreneurship, and lifestyle improvement for members.”
LASHMA revealed on Friday that over 1.3 million residents have been enrolled in the Lagos State Health Insurance Scheme, Ilera-Eko.
Achieving UHC
Mr Adewale noted that the launch of the Ilera N’ Tiwa Cooperative is a significant step towards achieving Universal Health Coverage (UHC) in Lagos State and providing a replicable model for other states.
He added that the cooperative’s slogan, “Health First,” reflects its commitment to making healthcare affordable, accessible, and sustainable while encouraging Lagos residents to embrace the initiative
In her remarks, the Permanent Secretary of LASHMA, Emmanuella Zamba, highlighted the cooperative’s focus on financial inclusion, particularly for those in the informal sector who don’t have bank accounts.
“Many in the informal sector lack bank accounts, making health insurance enrollment difficult,” Ms Zamba said, adding that the cooperative addresses this gap by facilitating instalment payments through partnerships with microfinance banks and offering additional benefits like wellness programmes and cheaper food options.
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Ms Zamba expressed optimism that the initiative would bring the informal sector into the health insurance fold, making it easier for them to access quality healthcare.
Need for Ilera N’ Tiwa
In a presentation, LASHMA’s Head of Business Development, Rotimi Olatunji, identified critical issues that prompted the cooperative’s creation, including solvency challenges, benefit expansion, and attrition in enrollment.
Mr Olatunji outlined the cooperative’s purpose: providing flexible premiums, wealth creation opportunities, and compliance with mandatory health insurance laws.
He also announced the formation of independent steering and advisory committees to oversee operations and create awareness among potential members.
The launch of the Ilera N’ Tiwa Cooperative was attended by several notable figures, including the Permanent Secretary of the Ministry of Wealth Creation and Employment, Biodun Onayele, and veteran Nollywood actor, Adebayo Salami.
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