Full Project – Cooperative society – a strong key to economic empowerment in Nigeria

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CHAPTER ONE

1.0 ITNRDOCUTION

Cooperative is conceived all over the world as the vehicle of transformation and growth in order to achieve the socio economic and political development goals of any nation. Cooperative business is essential ingredient in the development country, Nigeria included.

Therefore, this study is to emphasis that cooperative are economic organization and that its major contribution in economic development is to provide technology for that attainment of economic efficiency.

Cooperative is an association of person who have voluntarily joined together to achieve a common economic ends through the formation of a democratically controlled business organization, making equitable contribution to the capital requirement and accepting a fair undertaking (international harbor organization 1981). He said those cooperatives are therefore, deferent forms of business organizations whose philosophy is rooted on self help. Bob Igwe (1993) stated that the cooperative is a defense weapon against the exploitive ends of capital ration it is born out of necessity (a child of circumstance).

Mr. E.A. Ogujiofor (2001), state that cooperative is a business organization voluntarily owned and operated by people (owners/members) that have identified their social and economic needs have fitted a common objective to respond to those needs.

Valenti (1902) state that cooperative is an economic institution which is within the existing system of free competition an aim to correct wholly or partly the natural imperfection of the distribution of wealth.

Liemann (1923) said that cooperative are economics which endeavour through a common business establishment to further or complete acquisitive or consuming activities of their members.

Mr. Felix Anioha Onoh (1996), he state that cooperative is a union made up of group of people on enterprises, which those people must have a common goal.

With the above definitions of cooperative or what cooperative is all about, it must be emphasized that cooperative is an organization and it is recognized all over the world in economic and commerce, the cooperative business organizations is organized as one of the master forms of butted to the economic empowerment of Nigerians.

1.1 BACGROUND OF THE STUDY

The value of cooperative as an effective channel of rural transformation is widely recognized in advanced and less developed countries. In Nigeria, for instance, government objective state since 1920, the use of cooperative societies, particularly for socio-economic development of rural areas.

Presently cooperative is almost a universal form of organization found in most countries of the world and used by people in many ways for the supply of farming and fishing equipment, purchase of production equipment, etc. the ways in which cooperative idea can be beneficial to people in their every needs of life is unlimited, cooperative consist of the following:

To provide the necessary and desirable services of the people concerned.
To engage in business with the motive of service instead of profit maximization.
To operate on the basis of self-help where the people involved look towards themselves as a group for the solution to their problems.
The group of people who have come together to do something that could be difficult for an individual to implement if he is alone.
Cooperative helps to prevent exploitation by engaging members in agricultural processing.

1.2 STATEMENT OF THE PROBLEM

It has been the perspective of many that cooperative ends up in very little work activities and has got nothing much to do with economic empowerment. This seems to me that there are misconceptions or underestimation of cooperative societies. There misconception of cooperative societies is because they lack the proper knowledge and further delays our desire to attain great economic height and create numerous problems and questions such as: does cooperative business has enough economic empowerment potentials for the ever growing Nigeria population especially Owerri North L.G.A.? What role does government policy play to encourage cooperative business in economic empowerment and employment generation on Owerri North L.G.A?

1.3 OBJECTIVE OF THE STUDY

Realizing the economic empowerment potential of cooperative business there are no two ways other than creating serious awareness among the people emphasizing more on cooperative as best alternative to out much talked about employment problem. Economist believe that more than half of our problems are over when we are fully empowered economically. The study “the impact of cooperative society in empowerment of rural women” is designed to:

Identify of cooperative business has enough economic empowerment potentials for the growing population of the nation especially in Owerri North L.G.A.
Identify the core problems that hinder people from establishing the operating cooperative business.
Find out remedial actions taken to solve and reduce the problems of cooperative societies in Nigeria.
Find out causes of these inhibiting factors of cooperative business.
Identify possible suggestion as how-to solve the problem of cooperative business in Owerri North L.G.A.

1.4 RESEARCH QUESTIONS

The research questions are as follows:

What are the factors that influence rural women in joining the cooperative societies?
What are the functions of cooperatives?
To what extent can rural women have access to finance through cooperative societies?
What are the problems facing women cooperative societies in the rural areas?
What are the possible solutions to the problems of women cooperative societies in rural areas?

1.5 SIGNIFICANCE OF THE STUDY

Cooperative business is the roots to the ownership of capital and likewise participation towards the economic and industrial growth of the nation. This research is particularly of importance to the growth of people as it provides:

Opportunity to persons who may need to appreciate what constitutes cooperatives business in generating employment, economic empowerment and expected problems to be encountered.
There is practically significant to the Nigerian government as it affords the government an opportunity to appreciate the problems facing the establishment of cooperative societies.
The role plays by cooperative societies in economic empowerment of Nigerians.
The profit of person’s venturing in cooperative business.

1.6 SCOPE OF THE STUDY

The study of coverage is Owerri North L.G.A. but due to some factors which include the large scope etc. which leads to some difficulties, the phrase cooperative and economic empowerment already brings to attention that there are other ways to employment generation but this study is restricted to cooperatives in Owerri North because of time, finance and distance.

1.7 DEFINITION OF TERMS

EMPLOYMENT: It is the act of emptying or using the state of being employed occupies his time.

BUSINESS: A business may be classified under incorporated, and non incorporated, incorporated as in registered and non corporate as in not registered firm or business.

MANAGEMENT: The process of planning organizing directing and controlling the effort of organization members by using all other organizational goals.

PRODUCTIVITY: This is the measurement efficiency by comparing how much is produced with the research used.

COOPPERATIVE: Is an association of persons who have voluntarily joined together to achieved a common economic end.

CONTRIBUTION: The powerful effect or effectiveness that something has no somebody or something.

EXPLOITATIVE: Using somebody or something in an unfair and self manner.

ECONOMIC DEVELOPMENT: This is defined in terms of the reduction or elimination of poverty, inequality and unemployment.

ECONOMIC EMPOWERMENT: Is the rate of growth of income per capita and boosting an individual or nation with abundant resources in terms of finance and otherwise.

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