THE ROLE OF CONSUMER CO-OPERATIVE IN ECONOMIC DEVELOPMENT A CASE STUDY OF NKWERE LOCAL GOVERNMENT IN IMO STATE

CHAPTER ONE

1. INTRODUCTION

1.1  BACKGROUND OF THE STUDY

Co-operative according to Samuel. C. Chuwku (1990:1) is a generic term. Any form of association of two or more persons working together to achieve some aim or aims, such  working together  may be on a formalized or informal basis, economic or non economic.

       Furthermore, consumer co-operative society according to Helm F.C (1968:2) is defined as “An organization formed to supply members’ households with suitable assortment of consumer goods of good quality and at reduced price, thus increasing the member’s income and their standard of living.”

     The first successful co-operative that ever existed was the Rochdale equitable pioneers of 1844.

     However, the consumer co-operative societies in Nkwere local government area concerned with the empowerment  of members whose coherence and vitality are derived from the concept of service to members and to the community. Consumer co-operative societies in Nkwere loca government area continue to exist because of the unfair prices charged by the middlemen, which was beyond the reach of income earners.

     However, the various consumer co-operative societies in Nkwere local government area came as a result of exploitation in the economic system, commodities were not sold in good weight and measures, standard were not kept,  prices of commodities were not fair, and exploitation existed in different forms.

     Furthermore, because of the above irregularities, the people of Nkwere local government came together (those with common economic interest)to look for ways to improve their standard of living. It therefore led to the formation of various consumer co-operatives in Nkwere local government, with the existence of these consumer co-operative societies in  Nkwere, income per capital of people was increased and the co-operatives have come to rescue the people and have contributed to the development of the economy of the people.

1.2 STATEMENT OF PROBLEMS

     There are series of problems that arises in the economic development of Nkwere local government.

     This study will find out how the economic development of Nkwere local government will be improved and contributed more meaningful to the standard of living of the people.

     Some of the problems encountered by the people of Nkwere local government can be stated as follows;

     This project work emphasizes the facts that the existence of consumer co-operative societies in Nkwere local government area is not futility.

     Besides, the researcher seeks to establish that consumer co-operative societies have come to stay in order to abolish the evil of the capitalist and make life easier to the people.

     The study also focuses on the types of consumer co-operatives in Nkwere local government area in the activities of the societies and their numerous advantages and limitations.