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Full Project – The contributions of co-operative societies towards the economic development of Njaba

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CHAPTER ONE

1.0 INTRODUCTION

Cooperative societies are a unit of business organization. In recent times, the importance 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 Rochadale Pioneers of 1844 who popularized the modern day cooperatives movement. The Rochadale 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 Rochadale 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, Rochadale. They started tracing with small stocks of fairs out meal and candles. Profits were distributed to members in the proportion of their purchases. The Rochadale 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;-

Working together or “ready to help”.
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 neighbours joining together to help one another in a manner, which though voluntary, is morally compulsory by tradition I certain countries. This same method is used for skinning well, building irrigation reservoirs and ditches putting up houses and even burying the dead. Also cooperative is known as a type of business organization. Its introduction to industrial and business lives in West Africa generally and the rural areas of Nigeria in particular, are however new. Cooperative in his modern world is varied and it covers the work in all its business entities. The importance of cooperative societies in Nigeria cannot be overemphasized. The cooperative development in any place must be conditionally by its economic pattern Nigeria has an agricultural economy and cooperative was first developed in Nigeria.

BACKGROUND OF THE STUDY

The study focused on the support or contribution of cooperative societies toward economics development of Njaba LGA. This is how cooperative societies change the standard of the people for good as its aims and objectives as the data or information is obtain in FMCS Umuaka. Cooperative societies or FMCS contribute towards economic development of Njaba LGA in the following ways: by granting loan to members, marketing of members produce, establishing of cooperative shops etc. since cooperative societies is a self help organization.

Cooperative development in Nigeria started mainly with single purpose cooperative societies. They were involved in marketing credit, thrift and savings etc by 1954. It was real used that one cooperative could be form to combine with two or more of the above functions such cooperative render more function to their members if referred to as multi-purpose cooperative society. According to Ijere (1977) two events lead to the rapid growth of multipurpose cooperative society in Nigeria.

1.2 STATEMENT OF THE PROBLEMS

The major problems of cooperative societies include among others;

Inadequate financing.
Mismanagement of resources by the management committee (board of directors).
Unqualified/inexperienced management committee.
Uncommitted membership.
Lack of clear policy guideline on cooperatives.

1.3 OBJECTIVES OF THE STUDY

The study is aimed at finding out the various ways cooperative societies have contributed to the betterment of Njaba people through FMCS located in their area. This is done self-help to members, source of employment to Njaba’s marketing of members produce, granting loan to members etc.

Furthermore, this study also highlights some problems facing cooperative societies as poverty, illiteracy, diversion of fund etc and the remedies to such problems.

This is to better the operation of cooperative societies and makes it interesting as a source of economic development.

1.4 RESEARCH QUESTIONS

The research questions for the study were made up of the following:

What are the contributions of cooperative societies towards the increase on capital development?
What are the supports of cooperative towards the provision of infrastructural facilities?

What are the contributions of cooperative towards output growth?

What are the various sources of finance to the cooperative in Njaba local government?
What are the various problems or challenges facing cooperative societies in Njaba local government area?

1.5 SIGNIFICANCE OF THE STUDY

The study no doubt will be of immense advantages to the agricultural cooperative societies in Njaba local government area. This is because alternation shall be focused on the various problems affecting their effective performance.

Secondly, the study will bring to lime light the hinder importance of cooperative societies, thus, generating a greater degree of government support.

1.6 SCOPE OF THE STUDY

The general standard of other forms of business is for making motive which is the major difference between the cooperative societies and their likes all over the world and other forms of business such as companies, partnership, sole proprietorship etc.

However, the research is centered on the effort and contributed of different types of cooperative societies to the economic development of Njaba local government area of Imo state without profit making being their major objective.

1.7 LIMITATION OF THE STUDY

The factors which are inherent in the research situation and which are uncontrollable and such can affect the researchers result are: poor weather, national disaster like earth quake, through lead to low productivity. Other limitations encountered by the researcher are illiteracy among some cooperatives, high cost of transportation incurred by the researcher during the operation.

1.8 DEFINITION OF TERMS

i) Cooperative societies: is registered associations of persons who come together identify their socio-economic problems and pulled their resources together to improve the economic condition of her members.
ii) Primary cooperative societies: This is formed by private individuals. It is formed within a minimum number of ten persons.

iii) Secondary cooperative societies: This is the coming together of two or more primary societies.

iv) Roles: The task or duty of cooperative societies,
v) Cooperative shops: They are sort of super market organized and managed by the cooperative societies for the benefits of its members and non-members.
vi) Economic development: Any activity likely to improve the standard of living of individual and the society in general.

vii) Cooperative inspectors: They are employed by the government to take charge of supervision, the activities and programmes of primary and secondary societies and in an area. They also organize seminars and collective data to acquaint cooperative with new ideas.

viii) Marketing cooperatives: They jointly using cooperative tools of all items produced individually.

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