Full Project – The role of consumer co-operative in economic development

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CHAPTER ONE

• 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 Local 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 consumers 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.

• THE OBJECTIVE OF THE STUDY

This study therefore is to find out the numerous roles, which consumer co-operative societies play towards the economic development of Nkwere Local government area.

Some of the objectives are as follow;

• To point out the needs and importance of consumer co-operative societies in the present Nigeria as practiced by the consumer co-operative societies of Nkwere Local government area of Imo State.
• To observe if the members of consumer co-operative societies farewell in the society as a result of the movement.
• To study the needs and possibilities of increasing the numbers of co-operative societies in Nkwere Local government area.
• To critically examine the impact which consumer co-operative societies play in promoting the economic growth and development of Imo State
• To examine the various ways by which the numerous problems facing the consumer co-operative societies in Nkwere local government are solved.
  • SCOPE OF THE STUDY

The broad topic of this project is on the role of consumer co-operative societies in the economic development. The main focus however is on consumer co-operatives in Nkwere local government area of Imo State.

The study will therefore, cover all the activities engaged by the Nkwere consumer co-operative societies.

There are other related co-operative societies where relevant data in relation to the above topic can be gotten but the researcher decided to restrict the study within the boundary of Nkwere local government of Imo State.

• RESEARCH QUESTIONS

For the purpose of taking this topic prudently and effectively the following questions are to be employed.

• What are the main objectives of consumer co-operatives in Nkwere local government area of Imo State.
• What are the advantages which members of consumer co-operative societies enjoy
• Is the consumer co-operative societies in Nkwere the only organization that ensure the education of its members.
• Do consumer co-operatives societies help in reduction of crime through the creation of employment opportunities.
• Is it true that activities of consumer co-operative societies have reduced too much dependency of imported goods.
• Does the role of consumer co-operative societies have significant effect in the economic development.
• Has rural-urban migration become a thing of past because of activities of consumer co-operative societies.
• What are the major problems which consumer co-operatives have been facing seriously.
• Is there any mutual co-operation among the members of consumer co-operative societies.
  • ) Does the actions of consumer co-operative societies have positive influence on its members.
  • ) Does dishonesty and corruption hinder the activities of consumer co-operative societies.
  • ) Is it true that members of consumer co-operative societies cannot survive without the existence of consumer co-operative societies.
• STATEMENT OF HYPOTHESIS

As a guiding principle to achieve the aims already stated, and basis for empirical judgment to establish  that actions is not without purpose, it becomes imperative to have hypothetical statements which is to be accept or reject at the conclusion of this research.

H_o the roles of consumer co-operatives societies have no significant effect on economic development.

H₁ the roles of consumer co-operative societies have significant effect on economic development.

H_o the actions of consumer co-operative societies have negative influence on its members.

H₁ the actions of consumer co-operative societies have positive influence on its members.

• SIGNIFICANCE OF THE STUDY.

The significance of the study generally means the important of the study. This study of consumer co-operative societies has been of great impact in the area of the study.

• The study intends to explore how consumer co-operative can contribute to the economic well being of the people.
• To ascertain the relevance of consumer co-operative society.
• To add to existing volume of literature in co-operative society.
• The study becomes more significant at this time that Nigeria economy is uncertain. It will help to create greater awareness among students, members and enhance business partnership or advantages of forming consumer co-operative to run business instead of sole proprietorship.

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Full Project – The role of consumer co-operative in economic development