Impact Of Co-Operative Organization (Multi Purpose) In The Economic Development
(A Case Study Of Enugu Metropolis)
The role of a multi-purpose cooperative organization in economic development is profound, touching various facets of societal progress. These cooperatives, driven by the collective efforts of their members, contribute significantly to fostering economic stability and growth. By pooling resources and expertise, these organizations stimulate entrepreneurship, creating a dynamic environment for local businesses to thrive. Through collaborative initiatives, they address diverse needs, from agricultural endeavors to small-scale industries, thereby fostering a more inclusive economic landscape. The impact extends beyond mere financial gains, influencing social cohesion and empowerment. Such cooperatives serve as catalysts for community development, enabling individuals to harness their collective strength for sustainable economic progress. The cooperative model, with its emphasis on shared responsibility and equitable distribution of benefits, plays a pivotal role in shaping a more resilient and interconnected economic framework.
This project work is a detailed study of co-operative organization with special attention to their contribution in the economic development of Enugu state.
The major objectives of this study is to the area in which co-operative organization has bettered the lots of the people sustain their economic needs improve their standard of living, alleviate the unemployment problems and to appraise the general impact.
Due to time constraint and other limitations of this study, the research covers the impact of co-operative organization (multi purpose) in Enugu state.
The major findings of this study are as follows:
1. Co-operative organization helps in uplifting living standard of the people.
2. Co-operative organization involves in the development of the place.
3. Co-operative organization helps in controlling inflation.
4. The economic life of the people improved by the co-operative organization.
Title page
Approval page
Dedication
Acknowledgment
Abstract
Table of content
CHAPTER ONE
INTRODUCTION
1.1 Background of the study
1.2 Statement of the problem
1.3 Purpose of the study
1.4 Scope of the study
1.5 Research questions
1.6 Significance of the study
1.7 Definition of terms.
CHAPTER TWO
LITERATURE REVIEW
2.1 Historical background
2.2 Meaning of the co-operative organization.
2.3 Basic principles of co-operative organization
2.4 Structure of co-operative organization
2.5 The role of government in co-operative development
2.6 Agricultural and rural development.
2.7 Achievement of co-operative organizations
References
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY
3.1 Research design
3.2 Area of the study
3.3 Population of the study
3.4 Sample and sampling procedure
3.5 Instrument for data collection
3.6 Validation of the instrument
3.7 Reliability of the instrument
3.8 Method of data collection
3.9 Method of data analysis
References
CHAPTER FOUR
DATA PRESENTATION AND ANALYSIS
4.1 Presentation and analysis of data
4.2 Summary of result
References
CHAPTER FIVE
DISCUSSION, RECOMMENDATION AND ANALYSIS
5.1 Discussion of result/finding
5.2 Conclusions
5.3 Implications of the research findings
5.4 Recommendations
5.5 Suggestions for future research
Bibliography
Appendix
INTRODUCTION
1.1 BACKGROUND OF THE STUDY CO-OPERATIVE.
Organization is association where one is free to enter and also independent of itself. It is for the betterment of its members economic condition since the commencement of the co-operative association (society) in the world in 1854 and in Nigeria following the submission of Strickland report on 27 April 1974 co-operative organization has come to be.
Co-operative organizations are not public institutions nor government agencies for the execution of government plans rather co-operative is for the people with common interest as a defense mechanism to fight against the situation brought about by the adverse socio-economic conditions.
Due to the adverse socio-economic conditions presently hitting the nation people cannot get all that they need. Hence the best way they can get reasonable satisfaction of their needs is by coming together to pull their resources so as to solve their economics problems.
Since the commencement of co-operative organization in Enugu metropolis it has to a large extent helped in the economic development of the area. Though, co-operative societies have been seen to have some problems. The problems are not only peculiar to this area alone rather to the nation as a whole. The research study centered on the worst problems that are peculiar to co-operative societies in Enugu metropolis.
1.2 STATEMENT OF THE PROBLEMS
The current Nigeria economic situation calls for hard work this period in the country’s economic development could emerge a turning point in the nations history. The scope of co-operative organization as an active element in the creation of economic development has never been a debate.
That co-operative society with their integrated resources control inflation by increasing food supply and improved distribution channels. Co-operative organization develops both in both agriculture and small-scale business.
Co-operative organization creates employment opportunities hence reducing the unemployment problems facing the country and Enugu in particular. The co-operative societies provide educational services to its members.
Co-operative organization plays an important role in the mobilization of rural savings.
Co-operative organization thus generate equality in the distribution of wealth and ensures that the effect of economic activities alleviate the condition of both rural and urban areas. It is the philosophy of co-operative organization to development the infrastructure both in rural and urban areas.
1.3 PURPOSE OF THE STUDY
The purpose of the study is to know the impact of co-operative organization in the economic development of Enugu metropolis. So as to know how to make their performance effective and achieve their set objectives.
The purpose of the study are as follows:
a. To examine the achievement of co-operative organization in Enugu metropolis.
b. To find out their problems.
c. To know the important of co-operative organization.
d. To give the recommendation on how to over come the problems.
1.4 SCOPE OF THE STUDY
for the purpose of this study, the co-operative in the Enugu metropolis is covered only.
1.5 RESEARCH QUESTIONS
1. Has co-operative organization raised the economic well being of the people of Enugu metropolis.
2. Has co-operative organization any impact in the economics development of Enugu metropolis.
3. Is the loan given to the members increasing with time at the same time with the out put of the members.
4. Has co-operative organization helped in uplifting the living standard as a whole?
1.6 SIGNIFICANCE OF THE STUDY
If co-operative organization will be properly organized and co-ordinate it can be of great importance to the individual and the country as a whole.
Co-operative organization does not only help the individual alone. Rather it makes it possible for the people to pull their resources together and as well make such individuals affairs its own objectives.
The research of the co-operative at the study of the co-operative organization as being important. The research will also encourage and help people to establish co-operative organizations. It can be also a guide to subsequent research work similar to this. Besides the recommendations from this research work, will help improve to a large extent any given co-operative organization. And also get the maximum benefits of co-operative ventures. This should justify the significance/importance of this study.
1.7 DEFINITION OF TERMS
Socio economic: Of or relating to society and economy.
Mobilization: To become or make ready for service r action the needed resources.
Impact Of Co-Operative Organization (Multi Purpose) In The Economic Development
Cooperative organizations, especially multi-purpose cooperatives, can have a significant impact on economic development in both rural and urban areas. These organizations are typically formed by a group of individuals with common economic, social, or cultural interests who come together to pool their resources and efforts for mutual benefit. Here are some ways in which cooperative organizations can contribute to economic development:
Promoting Financial Inclusion: Cooperatives often provide financial services such as savings accounts, credit facilities, and insurance to members who may not have access to traditional banking services. This helps in expanding financial inclusion and allows individuals to invest in income-generating activities or cope with financial emergencies.
Job Creation: Cooperative enterprises can create job opportunities in various sectors such as agriculture, manufacturing, services, and retail. By providing employment to local communities, they contribute to reducing unemployment and poverty.
Rural Development: Multi-purpose cooperatives, particularly in rural areas, can support agricultural and agribusiness activities. They provide farmers with access to affordable credit, modern farming techniques, and marketing opportunities, leading to increased agricultural productivity and income for rural communities.
Wealth Distribution: Cooperatives often operate on principles of equity and fairness, ensuring that the benefits generated are shared among members. This can help narrow income inequalities and distribute wealth more evenly within a community or region.
Entrepreneurship and Innovation: Cooperative organizations encourage entrepreneurship by providing a platform for individuals to collectively pursue economic activities. They can foster innovation and diversification of products and services, leading to economic growth and competitiveness.
Access to Markets: Cooperatives can help members access larger markets by aggregating their products or services. This allows small-scale producers or businesses to compete more effectively in the marketplace and achieve better prices for their goods.
Community Development: Beyond economic benefits, cooperatives often engage in community development activities, such as building infrastructure, providing education and healthcare services, and supporting cultural initiatives. These efforts contribute to improving the overall quality of life in the community.
Risk Mitigation: Cooperatives can help members mitigate various risks, such as price fluctuations, natural disasters, or health emergencies, by pooling resources and sharing the burden collectively.
Environmental Sustainability: Some cooperatives focus on sustainable practices in sectors like agriculture and renewable energy. By adopting environmentally friendly approaches, they contribute to long-term economic development while preserving natural resources.
Local Empowerment: Cooperative organizations are usually democratically governed, giving members a say in decision-making processes. This empowerment can lead to increased community engagement and a sense of ownership in local economic development initiatives.
However, it’s important to note that the impact of cooperative organizations can vary depending on factors such as the strength of governance, the commitment of members, external support, and the specific context in which they operate. To maximize their contribution to economic development, cooperatives often require a supportive legal and regulatory framework, access to training and technical assistance, and connections to broader networks and markets.