• 36 Ogba Road, Oko, Benin City
  • 08113233208
  • info@idslcoop.com
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Cooperative of first choice positioned for world-class service delivery

Get quick loan at very competitive interest rates to meet your emergencies

Save more for the rainy day and receive huge returns on your investments

Visit our upgraded Gas Station for all your fuel needs (PMS, AGO, cooking gas, etc) at competitive prices

Update your records to access our digital loan management application for a seamless experience of convenience

Savings Withdrawals

Eligible persons are admitted on payment of entrance fee of one thousand five hundred Naira (N1,500) and share purchase of four thousand Naira (N4,000) consisting of 800 shares at N5 each.

Loans

Provision of quick loan remains the hallmark of cooperatives. Only members who have been admitted for more than 12 months are eligible for loans. The Bye-laws also requires that every borrower furnish two sureties or are guaranteed by two persons.

Investments

Members can subscribe for the cooperative’s share on a monthly basis for more dividends on investment in shares. Big investors cash in huge returns every year sharing from appropriated net surplus.

Featured Services

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Investment Plan

The society owes and operates a full fledge gas station facility where members and the general public buy high quality PMS (fuel), AGO (diesel), kerosene, LPG (cooking gas) and engine lubricants at affordable and approved prices. This is located along Sapele Road, Benin-city. Besides, IDSL fuel pump is being managed by the cooperative. Apart from the increased safety, this gas station offers tremendous relief for co-operators during fuel scarcity.

LPG Station

The society owes and operates a full fledge gas station facility where members and the general public buy high quality PMS (fuel), AGO (diesel), kerosene, LPG (cooking gas) and engine lubricants at affordable and approved prices. This is located along Sapele Road, Benin-city. Besides, IDSL fuel pump is being managed by the cooperative. Apart from the increased safety, this gas station offers tremendous relief for co-operators during fuel scarcity.

Filling Station

The society owes and operates a full fledge gas station facility where members and the general public buy high quality PMS (fuel), AGO (diesel), kerosene, LPG (cooking gas) and engine lubricants at affordable and approved prices. This is located along Sapele Road, Benin-city. Besides, IDSL fuel pump is being managed by the cooperative. Apart from the increased safety, this gas station offers tremendous relief for co-operators during fuel scarcity.

Supermarket

We bring to you high quality products and consumer goods at very competitive prices. Shop with us to experience an enjoyable and convenient shopping experience. There are unbeatable deals during festive seasons. This is located within IDSL premises in Benin-city. Credit facilities are also available deductible from payroll.

Estate Development

The cooperative acquired a massive land and developed a staff estate development plan. The proposed housing scheme includes sets of 3-bedroom bungalows, 4-bedroom bungalows and 4 bedroom duplexes beautifully arranged in a serene landscaped environs. All the plots have since been sold to members and Certificates of Occupancy have been secured accordingly. Development of the estate is on the way and funding models are being reviewed.

Haulage Services

In the last 5 years, IDSL SMPCSL has made good profits from her haulage operations. The society partners with IDSL to provide vehicle hire services to haulage personnel and equipment in her seismic crews across the country. Seismic data acquisition contributes 95% of IDSL revenue and profit from haulage operations remains the society’s second most profitable venture after microfinancing (that is, interest on loans). There is the developing bus hire service segment for the use of co-operators.

Our History

IDSL Cooperative Society was registered in 1991 as IDSL (NNPC) Staff Multi-purpose Cooperative Society Limited with the official address as IDSL (NNPC), 36, Ogba Road, Oko, Benin City. This society engages in cooperative activities such as trading and thrift savings to registered members. The membership of the society is open to all employees of the NNPC and IDSL.
The scope of operation of the society has since evolved to include the Provision of Loans, Sales of Consumer Goods, Sales of Petroleum Products, Microfinancing and any other profitable venture. Its membership has grown to over 700 members as at 2019.
Between 2012 and 2018, the society’s gross income and net assets have risen by 122% and 244% respectively. Today, IDSL cooperative society has become the number one choice in the NNPC Group family because of her sheer commitment to service excellence and transparent leadership.

Our Mandate

The primary objective of IDSL SMPCSL is to promote socio-economic well-being of its members and to provide quality consumers products at affordable prices to achieve maximum advantage. Its specific objectives include the following:

  1. To encourage thrift and savings mobilization among the members;
  2. To generate funds and extend easy credits to members at fair and reasonable rates for productive and provident purposes;
  3. To provide goods and services to members and community at reasonable and affordable rates;
  4. To promote and advance the economic, social and educational status of members;
  5. To establish, own, lease or operate cooperative ventures, either on wholesale or retail basis, that are profitable, safe and member/community focused.

Mission Statement

To provide world class services to Members that are designed to add value to savings, ensure easy access to friendly credit facilities and enhance the welfare of members through cooperative ventures that are profitable, safe and member focused.

Vision Statement

To be the Cooperative Society of choice in the NNPC Group.

The Leadership Team

IDSL SMPCSL is led by a team of committed professionals that have the interest of the society at heart. The Executive Management is composed of officials in line with the society’s Bye-laws.

Executive Management Committee

  • President
  • Vice President
  • Secretary
  • Assistant Secretary
  • Treasurer
  • Financial Secretary
  • Legal Practitioner
  • Audit Committee

Latest Publications

Information

Please find below our contact directory.
Available 8:00am-4:00pm, Monday - Friday

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