THE ROLE OF COOPERATIVE SOCIETIES AND THE NIGERIA ECONOMY: A CASE STUDY OF COOPERATIVE SOCIETIES IN OREDO LOCAL GOVERNMENT AREA OF EDO STATE. A RESEARCH PROJECT MATERIAL ON ECONOMICS
ABSTRACT
This sturdy is designed to look at the importance of cooperative societies in Oredo Local Government Area of Edo State. the objectives of the study are to examine the history, functions, importance and the problems of cooperative societies in Oredo Local Government Area. It will also show how the people of Oredo associate themselves with the cooperative societies found in their area. The major research question of this study is that cooperative movement is spreading into various economic activities in the life of the people of Oredo Local Government Area of Edo State. it was found from the information gathered that a lot of handicaps such as lack of cooperative schools, lack of capital no mass campaign to various pars of the local government area, no effective management and lack of trust among members etc. The possible recommendation is that at least all villages or clans in Orhionmwon Local Government Area should have cooperative societies another is that a cooperative bank should be created to solve the problem of lack of capital. Also, it is recommended that bank keepers, store keepers and auditors should be employed or trained to ensure effective management of the cooperative societies. Finally, there should be mutual trust within cooperative to ensure steady fast growth in cooperative movement in Orhionmwon Local government Area of Edo State.
CHAPTER ONE
INTRODUCTION
BACKGROUND TO THE STUDY
Cooperative societies are a unit of business organization. In recent times, the importances of cooperatives have come into focus in West Africa countries. Cooperatives society origin is traced to the Rochadale Pioneers of 1844. It is believed that cooperative societies were in cooperative before 1844, but is the Rockdale Pioneers of 1844 who popularized the modern day cooperatives movement. The Rockdale consisted of 28 members who were mostly wavers. Their sole aim of farming cooperative was to raise their standard of living during this time (1844) people were experiencing economic hardship. This was mostly pronounced among the law income earners. The Rockdale pioneers started by contributing or subscribing a few pence a wee, they managed to obtained 28 with which they vented a store in Toad Lane, Rockdale. They started tracing with small stocks of fairs out meal and candles. Profits were distributed to members in the proportion of their purchases. The Rockdale cooperative was a consumer cooperative society. In Nigeria, the formation of age group societies for team work and group financial assistance among members in respect of farm work, road construction, house erection and social festivities marked the beginning of cooperative society’s movement. The idea of cooperative societies was first conceived in 1934 and in February 1936. The legislative council passed the cooperative bill before the movement was officially launched in the country, in the beginning of cooperative societies in Nigeria; the running of registration was at the regional levels. The word “Cooperative” could be used in two different ways;
a. Working together or “ready to help”.
b. An organized kind of business organization.
Cooperative is an old as mankind, for each other. Thus, this is particularly important in all rural areas of the world. The herding of all livestock’s is often carried out in turns by the herdsmen. The gathering in and the thrashing of each farmers harvest area often carried out by all neighbors joining together to help one another iun a manner, which though voluntary, is morally compulsory by tradition I certain countries,.
Leave a Reply
You must be logged in to post a comment.