Problems And Prospects Of Co-Operative Development

5 Chapters
|
51 Pages
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5,493 Words

Co-operative development encompasses a diverse array of challenges and opportunities within its operational landscape. At its core, co-operatives represent collective endeavors aimed at addressing socio-economic needs and fostering community empowerment. However, navigating the intricate web of governance structures, financial sustainability, and member engagement poses significant hurdles. One prominent challenge lies in ensuring effective leadership and governance mechanisms to steer co-operatives towards their objectives while maintaining transparency and accountability. Moreover, financial viability stands as a critical concern, necessitating innovative approaches to secure funding and manage resources efficiently. Additionally, fostering active member participation and fostering a sense of ownership remain pivotal for the success of co-operatives, demanding continuous efforts in education, training, and community engagement. Despite these challenges, co-operatives offer promising prospects, serving as engines for economic development, poverty alleviation, and social cohesion. By embracing collaboration, innovation, and inclusive practices, co-operatives can leverage their strengths to address contemporary challenges and advance sustainable development agendas on local, national, and global scales.

ABSTRACT

The Problems and prospects of Co-operative development in nigeria emphasis on the economic growth of the nation and the eradication/alleviation of poverty among the populace.
The significant of the contribution of government towards the growth of co-operative society in the country (Nigeria) cannot be over emphasized because it has brought about the reduction of dependency rate of the country. This increasing the national income of the country. The government take no special interest in the co-operative movement outside providing it with the necessary legal basis for registration and under some circumstances, granting minor privilege in the form of reduced tax rate.
The aim of this project is to find out the role of Anaocha Co-operative society development, Anaocha local government area in Anambra state. The subjects used for the study consisted of four hundred and ninety-nine (499) Anaocha co-operators from six (six) registered Anaocha co-operatives in the same local government. Sample size was used in selecting these four hundred and ninety-nine (499) co-operators from the population of six registered Anaocha co-operatives societies in the local government. Questionnaire and oral interview were the major instruments used for the study.
A total of 550 questionnaires were administered to registered members of the co-operative societies. Out of this number, 499 were completed and returned, one more questionnaire was administered to the Divisional co-operative officer of Anaocha local government area. He also stressed on the need for the co-operative officers in Anaocha local government area to encourage the women to invest more to productive ventures than collection of individual loans from the co-operatives. This will help provide employment opportunities for the members and the people of Anaocha in general.Enemuoh Jacinta .N.
August 2005.

TABLE OF CONTENT

Title Page
Approval Page
Dedication
Acknowledgement
Abstract
Table Of Contents

 

Chapter One:
1.0 Introduction

1.1 Background Of The Study
1.2 Statement Of The Study
1.3 Purpose Of The Study
1.4 Significance Of The Study
1.5 Scope And Limitation Of The Study
1.6 Definition Of Terms
Reference

Chapter Two:
2.0 Review Of Related Literature

2.1 Introduction
2.2 Problems Of Co-Operation Development
2.3 Promotional Effort Of The Government In Anaocha Towards Co-Operative Development In Nigeria.
2.4 Macro-Effects Of Co-Operative In Anaocha
2.5 Operatioonal Problems And Prospects Of Co-Operative
Reference

Chapter Three
3.0 Research Design And Methodology

3.1 Introduction
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 Reliability Of The Instrument
3.7 Method Of Data Collection

Chapter Four:
4.0 Summary Of Findings, Conclusion And Recommendation

4.1 Introduction
4.2 Summary Of Findings
4.3 Recommendations
4.4 Conclusion
Bibliography
Appendix

CHAPTER ONE

INTRODUCTION
1.1 BACKGROUND OF THE STUDY

According to the co-operative law of Eastern Nigeria (CAP.28) of 1956 co-operative society is an association which has its objective the promotion of the economic interest of or the provision of services for its members in accordance with co-operative principles. Therefore, co-operative is a self help project.
Abinitio, co-operative were not supposed to be under government influences and control, though, co-operative were not supposed to work in isolation or in competition with government for is all states of the world political power is exercised for the state by government.
The government provides security for lives and property and also provides and enacts laws which enables business and co-operative to flourish. Beyond the level of work only for the interest of the member and betterment of the entire society.
This project is aimed at x-raying the various ways and programmes which government contributes towards the development of co-operative societies. Therefore, the project research is to identify the various areas where government affects the development of co-operative society in Anaocha and to clearly state the significance of the programme. Also, the research work elaborates the factors responsible towards the development of co-operative in Anaocha; thus no financial aid to the orgnisation operating under the co-operative society sector.

1.2 STATEMENT OF THE PROBLEM
From the background of the study, it should be understood that modern Anaocha co-operative societies were formed in Anaocha local government area to cater for the socio-economic needs of the Anaocha. It is also aimed at savings as instrument for Anaocha development.
But it is however, surprising that despite the existing Anaocha co-operative in the said local government, the various communities that constitute the local government are still in their primary stage of development. Even the Anaocha co-operators themselves are still suffering from poor standard of living.

1.3 PURPOSE OF THE STUDY
The purpose of this study is to:
1. Examine the level of Anambra development through co-operatives in Anaocha local government area.
2. Find out the level of performance and the extent to which the Anaocha is achieving or failing to achieve Anaocha development in the said local government.
3. Find out the problems that face Anaocha co-operatives thereby hindering them from achieving the objectives of development and to suggest ways of enhancing the effectiveness of these co-operatives.
4. And to determine the contributions of these Anaocha local government area.

1.4 SIGNIFICANCE OF THE STUDY
The study is significant for the following reasons:
1. It will eliminate doubts as to whether or not women co-operatives aae of any significance in Anaocha development especially in the case study.
2. This study will guide other researchers who may wish to operate along co-operative especially as it concerns Anaocha development through co-operative in Anaocha local government.
3. The significance of this study is most conspicuous in its service as an aid to Anaocha development especially in this period of economic recession in which government wants all hands on desk to increase food production.
4. The study will also find solutions to some problem associated with co-operative in particular and Anaocha development in general.
5. Finally, the information in this study will be of enormous help to researchers who might wish to further their research into areas of Anaocha development not covered by this study.

1.5 SCOPE AND LIMITATION OF THE STUDY
This study is limited to selected registered Anaocha co-operative societies in Anaocha local government area of Anambra state. The limitation of these selected co-operative societies does not necessarily eliminate the chance of making valid conclusions on the entire population of Anaocha local government area, as the societies are fairly representative of the situation on the ground in local government generally. In the course of the research work, the researcher encountered some constraints, which affected the final output of the study. There limitations amongst others include:
a) Time: The time available for the completion of the research study was not adequate. This was because the researcher was mandated to report her findings within a fixed time limit during the academic session.
b) Cost: For a maximum fulfillment of the objective of this study, the researcher needed to visit all the offices of UDBN Plc to obtain first-hand information. This, she could not achieve due to the huge expenses that would be incurred in the process.
c) Attitudes of Respondents: The negative attitude of some respondents to the researcher’s request for audience in answering questions or filling the questionnaires also constituted a constraint to the assignment.

1.6 Research Questions.
1. Do co-operative societies play any role in the development of Anambra state?
2. Is there any problem faced by Anaocha co-operative which hinders them from achieving their set objectives?
3. Do co-operative societies in Anaocha contribute to the provision of infrastructural development in Anambra state?
4. Is there any contribution of co-operative societies in Anaocha towards Agricultural development of Anambra state?
5. Does Anambra state play any role in the development of co-operatives in Anaocha local government area?

1.7 Definition of Terms.
A co-operative Society: Is an association of persons who voluntarily joined to achieve a common goal through the formation of a democratically controlled organization making equitable contribution to the capital required and accepting a fair share of the risks and benefits of the undertaking in which the members actively participate.
Registered Co-operative Society: Registered co-operative society means a co-operative society registered under the southern Nigeria co-operative societies law and rules, Cap. 28, thereby acquiring the authority to operate.
Co-operatives: Co-operatives is used for the purpose of this study, to represent registered co-operative societies.
Population: This referred to the entire group under study.
Population Sample: This is a small group having all the characteristic of the population under study and upon which postulation or judgment about the entire population is based.
Stratified Sampling: It is the method of dividing the population into sub-groups using such basis as sex and occupation.
Co-operative Education: This is different from literacy education. It is informal and non-formal education given to members to enable them acquire the method of conducting meeting and planning their business. It also have objective of inculcating the co-operative law and bye-law to the members.
Functional Education: Functional education as used in this paper denotes that education that leads the learners to self-actualization through the acquisition of skills that are mostly made immediate use of.

REFERENCE
HELMS, G.F (1986): The Economics of co-operatives Enterprise. University
of London press. Page 24, 200.
IJERE, M.O (1990): New Perspectives in Financing Nigerian Agricultural;
15 Forth Dimension Publishers, Enugu.
UDINI .S. (1986): Production Co-operative Society. 32, James and
Company, Asaba, Delta State.

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Problems And Prospects Of Co-Operative Development:

Cooperative development refers to the growth and management of cooperative enterprises, which are businesses owned and operated by their members for their mutual benefit. These businesses can range from agricultural cooperatives to credit unions, housing cooperatives, and more. Like any form of economic organization, cooperative development has its own set of problems and prospects:

Problems of Cooperative Development:

  1. Capitalization and Funding: Obtaining sufficient capital to start and expand cooperative enterprises can be challenging. Members may have limited financial resources, and securing external funding can be difficult due to the democratic structure and shared ownership, which can deter potential investors.
  2. Management and Governance: Cooperative decision-making can be slow and consensus-driven, leading to inefficiencies. Member participation and engagement can vary, making it challenging to ensure effective governance and management.
  3. Skill and Training: Members may lack the necessary skills and knowledge to run their cooperative effectively. This can lead to issues with business operations, financial management, and marketing.
  4. Market Access and Competition: Cooperatives may face stiff competition from larger, more established corporations. Gaining market access and establishing a competitive edge can be difficult.
  5. Conflict Resolution: Disputes among members or between members and management can be complex to resolve within the cooperative’s democratic structure. Conflict resolution mechanisms may need to be developed and refined.
  6. Sustainability: Maintaining long-term sustainability can be a challenge. Cooperative enterprises must adapt to changing market conditions, technology, and consumer preferences to remain relevant and profitable.

Prospects of Cooperative Development:

  1. Economic Democracy: Cooperatives promote economic democracy by giving members a voice in the decision-making process and a share of the profits. This can lead to a more equitable distribution of wealth and resources.
  2. Local Development: Cooperatives often prioritize local economic development and community well-being. They can help create jobs, support local businesses, and reinvest profits within the community.
  3. Stability and Resilience: Cooperative enterprises tend to be more resilient in times of economic downturns because they prioritize member needs over profit maximization. This stability can benefit both members and the local economy.
  4. Social Impact: Cooperatives can address social issues, such as affordable housing, access to healthcare, and fair wages, by aligning their business goals with the needs of their members and communities.
  5. Risk Sharing: Members in cooperative enterprises often share the risks associated with the business. This can help individuals mitigate their individual financial exposure.
  6. Innovation: Cooperative enterprises can foster innovation and entrepreneurship by providing a supportive environment for members to explore new business ideas and ventures.
  7. Sustainability: Cooperatives, especially in sectors like agriculture and energy, can promote sustainable practices and environmental stewardship by prioritizing long-term sustainability over short-term profits.

In conclusion, cooperative development presents both challenges and opportunities. Success often depends on effective management, member engagement, access to capital, and the ability to adapt to changing circumstances. When properly structured and managed, cooperatives can offer economic, social, and environmental benefits to their members and the communities they serve.