1. Establishment of 88 Military Airlift Group Cooperative Multipurpose Society now 301 Heavy Airlift Group Cooperative Multipurpose Society was in response to the welfare need of officers and airmen. Board of Officers headed by Group Captain EC Uzowuru was set up on November 13, 2003 by the order of the then Commander of the Unit, Air Commodore SI Awofodu with a view to establishing an implementation committee for the Unit Cooperative Welfare Society. The implementation committee became operational on March 22, 2004. A cooperative specialist in the person of Flight Sergeant Da-Costa Olu now Master Warrant Officer (Rtd) serving at the then 99 Air Weapon School, Kainji assisted the Committee with professional advice.
2. The Committee included the following personnel:
a. Wing Commander JO Oderinde (Rtd) – Chairperson
b. Wing Commander CA Ogbeche – Member
c. Master Warrant Officer Ene J (Rtd) – Member
d. Master Warrant Officer Azogu AO – Member
e. Flight Sergeant Oladipo W – Member
f. Sergeant Noah G – Member
g. Lance Corporal Orkaa T – Member
i. Flying Officer NS Hassan – Secretary
3. The Implementation Committee went ahead and registered pioneer members, and facilitated the commencement of monthly subscriptions. It also organised a colourful inauguration ceremony and launching of Cooperative Retail Shop on August 20, 2004. The then Air Officer Commanding Logistics Command, Air Vice Marshall J Etsu Ndagi DSS, FSS, fwc, psc(+) and all commanders of other NAF units in Lagos Area were in attendance. Manufacturing firms such as WAMCO, Cadbury Nigeria Plc, De-United Food Industry Ltd, Flour Mills of Nig Plc, Nestle Food Nigeria Plc among others were conspicuously represented.
4. In October 2004, Group Captain AY Bello now (Air Vice Marshal) took over as the Chairperson. On November 2, 2004, the Implementation Committee submitted an interim report to an Audit Committee headed by Flight Lieutenant GO Olubodun now (Wing Commander). Subsequently, Management Committee headed by Group Captain AY Bello came into place in July 2005. Group Captain EC Uzowuru (Rtd) took over as the President of the Executive Management Committee in October 2005. Group Captain JD Lawrence (Rtd) took over when the incumbent left for Defence College. The mantle again fell on Group Captain EC Uzowuru (Rtd) when the incumbent was leaving for Defence College. Squadron Leader OO Obasa took over in acting capacity when the incumbent was posted to Kaduna. Group Captain S Olatunde emerged as the President until 30 September 2015 when he eventually handed over to Group Captain AY Abdullahi . Wing Commander BR Amuda came in to the office on Jun 13, 2016 as the current President, when the incumbent left for War College in India.
5. By May 2004 the strength of the Society was 156 members comprising 11 officers, 144 airmen and 1 Retired Air Warrant Officer. Members' subscriptions were deducted from source by Head Quarters Pay and Accounting Group and remitted to the society's Bank account. Subscriptions were in the range of N300 to N500 for Airmen and N2,000 to N10,000 for officers. The decision to extend membership to personnel of other sister Nigerian Air Force units was taken at the second Annual General Meeting held on July 19, 2007
6. The first General Meeting held on June 6, 2005 culminated in the first Annual General Meeting held on January 11, 2006. Representative of the Area Officer in charge of cooperative societies in Ikeja was in attendance. This paved way for the approval for supervision and development under Lagos State Ministry of Agriculture and Cooperative Services with effect from April 6, 2006. Consequently, the Society was registered as 88 Military Airlift Group Consumer Credit and Thrift Society. Second Annual General Meeting was held on July 19, 2007 where far reaching decisions were taken such as adding dividends to members' savings instead of issuing out Cheques or cash. Third Annual General Meeting was held on September 3, 2008. Thereafter, the Society was upgraded to 88 Military Airlift Group Cooperative Multipurpose Society. Fourth Annual General Meeting was held on September 3, 2010 and the fifth Annual General Meeting on September 28, 2012. Subsequently, the name has changed to 201 Heavy Airlift Group Cooperative Multipurpose Society in line with the change in the name of the mother Unit. The Sixth Annual General Meeting was held in November 2013, and during the Annual General Meeting, it was agreed by members that the dividend should be paid to members instead of adding it to saving. The seventh Annual General Meeting came up on August 29, 2014, while the Eight Annual General Meeting was held on the November 21, 2015. The Ninth Annual General Meeting was held on August 24, 2016 while the Tenth Annual General meeting came up on May 2018 witnessing so much fanfare such as raffle draw and General Elections. July 6, 2019 is remarkable in the sense that our great Society is marked the Eleventh Annual General Meeting officially as 301 HAG Cooperative Multipurpose Society.