ORIGIN AND DEVELOPMENT OF CO-OPERATIVE SOCIETIES IN NIGERIA

Project Abstract

Co-operative societies play a significant role in the economic and social development of Nigeria. This research project delves into the origin and development of co-operative societies in Nigeria, tracing their evolution from the pre-colonial era to the present day. The study examines the historical context in which co-operative societies emerged in Nigeria, highlighting the various factors that influenced their establishment and growth. The research explores how traditional forms of cooperation among indigenous communities laid the foundation for the formal establishment of co-operative societies in Nigeria. It discusses the impact of colonialism on the development of co-operatives, noting the introduction of cooperative principles by the colonial administration and the role of missionaries in promoting cooperative activities among local populations. Furthermore, the study analyzes the post-independence era and the subsequent government policies and initiatives aimed at promoting and supporting co-operative societies in Nigeria. It investigates the legislative framework governing co-operatives in the country, as well as the challenges and opportunities faced by these societies in the contemporary Nigerian society. The research project employs a historical and analytical approach, drawing on a wide range of primary and secondary sources to provide a comprehensive overview of the origin and development of co-operative societies in Nigeria. It examines the organizational structure, functions, and impact of co-operative societies on the economy and society, highlighting their contribution to poverty reduction, rural development, and social empowerment. Moreover, the study evaluates the sustainability and effectiveness of co-operative societies in Nigeria, considering their ability to adapt to changing economic and social dynamics. It discusses the role of government support, financial institutions, and international organizations in strengthening co-operatives and enhancing their capacity to address the diverse needs of their members. Overall, this research project sheds light on the historical evolution and contemporary relevance of co-operative societies in Nigeria, emphasizing their importance as vehicles for promoting economic inclusivity, community development, and social cohesion. By examining the origin and development of co-operatives in Nigeria, this study contributes to a better understanding of the role of cooperative movements in fostering sustainable development and empowering marginalized communities.

Project Overview

<p> </p><h3><strong><br>BACKGROUND OF THE STUDY</strong></h3><p>The history of modern co-operative society in Nigeria dates back to 1933 when the government of Nigeria arranged for an inspection to be carried out by M.C.F Strickland a co-operating expert, who for three months December 1933 to March 1934 investigated the possibility of introducing a co-operative system into Nigeria. Mr. Jlriok – land strongly recommended the introduction of co-operatives into Niger and his report submitted in 1934 (April) forms the main point for the introduction of modern co-operation into Nigeria. Mr. Strickland also drafted a proposed ordinance and regulation. His report was accepted and quickly implemented co-operative was registered in the name of Mr. E.F.G Haig, was appointed and sent for training in overseas. Mr. Haig studied the Indian co-operative law and modified it for use in Nigeria. By 1934, many co-operative has been formed. The first co-operative society to be registered was that G. Bedun near Ibada in 1937 late Chief Akinpene Obisesan who is regarded as the father of Gbedum Co-operative produces marketing society limited following this, many co-operative were formed all over the country.</p><p>A co-operative is an association of persons united, social and austral used and aspirations through a jointly owned and democratically controlled enterprise. A co-operative is an association of persons into a capital. The interest of the members must come before those of capital. The group of persons is the social element. In early 80s, so many co-operatives was formed, this is done so as to enable members to save their money and also with the aim of borrowing loans from the society a lot of progress was gain by member because of the low rate of interest also, it encourage members to borrow money from other organization. However, co-operative have played an effective role to the socioeconomic development and growth of the society today. This will take the ovation to a greater height in such a way that individuals and organizations does not lack fund. The nation will be push to a fretter industrial and technological stage.</p><h3><strong>1.2 &nbsp; STATEMENT OF THE PROBLEM</strong></h3><p>The problem associated with the development of co-operative is that there are many problems, which prevent it from not performing, as well as it should, these include:</p><p>a. Poor members and high level of illiteracy among members, low public awareness of co-operative potential lecturers and seminar are not held by the member, this leads to which level of ignorance of member.</p><p>b. LACK OF INTEREST AMONG MEMBERS</p><p>Low level of participation, the char action is what belongs to everybody, belongs to nobody, non-participation has caused problem for the development of co-operative in Nigeria.</p><p>c. POOR MANAGEMENT</p><p>Poor management by the official and members has caused problems to the development of co-operative in Nigeria. Not keeping the account book in safe for audit will lead to problem.</p><h4><strong>&nbsp;1.3 &nbsp;PURPOSES AND OBJECTIVE OF THE STUDY</strong></h4><p>a. To determine the contribution of the co-operative movement to the economic of their members.</p><p>b. To measure community awareness of the co-operative in its immediate environment.</p><p>c. To examine the management of co-operative</p><p>d. To determine the sources of funds for the co-operative and how surplus are shared among the members.</p><h5><strong>1.4 &nbsp; SIGNIFICANCE OF THE STUDY</strong></h5><p>The research work will be useful with the following importance:</p><p>a. To student and scholars studying co-operative in higher institution system.</p><p>b. For further development of co-operative society in Nigeria, in order to redress the daily exploitation, which people suffer at hard of profit earning middlemen during the capitalist system.</p><p>c. To official of the society as a standard of internal evaluation and control performance in co-operative societies.</p><p>d. The research scholars who may wish to carry out further, the matter on related topics.</p> <br><p></p>