Though the economic downturn of the early 80s, and the era of essential commodities was frustrating the average Nigerian, the staff of Total were quick to spot the opportunities in the prevalent nationwide economic recession. They quickly mobilized for communal economics, a situation where they agreed to come together for bulk purchase of essential commodities […]
|Coop Name: Total E&P Nigeria Cooperative||N° of Employees: 42|
|City: Lagos||N° of Members: 1643|
|Country: Nigeria||Year of formation: 1984|
Total E&P Nigeria Staff Multipurpose Cooperative Society Limited (Total E&P Co-op) commenced operations in 1984 as Total E & P (Nigeria) Thrift and Credit Society Limited. It had an initial capital of N20, 000,000.00, and has grown from double digit membership at inception, to 1,643 members today. As with such societies, membership is voluntary and open to Total staff across Nigeria. Now a $140M (N45.03bn) asset base (audited 2018), with 42 professional staff, and currently the most profitable Co-operative in West Africa, Total E&P Co-op remains the first and only co-operative in Nigeria to appoint an External Auditor (PwC).