importance of cooperative society in nigeria

The cooperative movement is spreading its tentacles into various economic activities in Oredo Local Government Area of Edo State. Cooperative in his modern world is varied and it covers the work in all its business entities. ADVERT SPACE ! At present, many types of cooperative societies are existing in Nigeria. 4. Virtually every ethnolinguistic group in Nigeria has its own traditional cooperative institutions under names (Adashi, in Hausa, Isusu, in Ibo, Osusu by the Ogoja, Dashi by the Nupe and so on) these traditional cooperatives had even been exported as far as the Caribbean, West Africa, and Central African countries and it covers all human societies from marketing, credit, consumer, building, group farming, … Cooperatives have the capacity to reduce poverty, enhance job creation, encourage savings, reduce business risk and improve national productivity. Cooperative are not about making big profits for shareholders but creating value for customers. 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. Mismanagement of resources by the management committee (board of directors), 3. The members get dividends according to the capital invested by them. Therefore, I now wish to research for the importance of studying Co-operative Economics and Management in tertiary institutions, the strategics and to suggest few solutions out off the million solutions to the failure of cooperative practices in the institutions or organizations. 13. An organized kind of business organization. These small farms produce about 80% of the total foods. This was mostly pronounced among the law income earners. PART II Duties and privileges of registered societies II. Unqualified/inexperienced management committee, 5. 16. Not only that, but it also helps to gain credibility in the eyes of prospective members, gained access to grants and so many other advantages. It is vital to both functionalist and interactions understanding of society. Cooperative is an old as mankind, for each other. To recognize the different types of cooperative societies in Oredo Local Government Area of Edo State. the objectives of the study are to examine the history, functions, importance and the problems of cooperative societies in Oredo Local Government Area. The gathering in and the thrashing of each farmers harvest area often carried out by all neighbors joining together to help one another iun a manner, which though voluntary, is morally compulsory by tradition I certain countries,. The Rockdale cooperative was a consumer cooperative society. World history of cooperative societies began in the 18th century. Today, we will be showing you the steps required to register a cooperative society in Nigeria. The history and importance of agricultural cooperative organizations in Nigeria is a long-standing one. The first cooperative effort dates back to 1907 when a group of cocoa producers and ... level of awareness of the importance of cooperative societies in Nigerian Higher Institutions. In recent times, the importances of cooperatives have come into focus in West Africa countries. 2. 1.0 INTRODUCTION Generally, cooperative data traced back to nineteenth century has spread to the whole world including Nigeria. The importance of cooperative societies in Nigeria cannot be over emphasized. Thus, this is particularly important in all rural areas of the world. Cooperative societies are autonomous associations of persons united voluntarily to meet their common economic, social, and cultural needs by forming an enterprise owned and controlled by a group of people. The Early History of Co-operative Movement in Nigeria . It will also show how the people of Oredo associate themselves with the cooperative societies found in their area. This is what gives cooperative a unique character and influence. Get Full Work THE ROLE OF COOPERATIVE SOCIETIES AND THE NIGERIA ECONOMY, THE PROBLEMS AND PROSPECTS OF AGRICULTURE IN THE ECONOMIC DEVELOPMENT, THE ROLE OF COOPERATIVE SOCIETY ON ECONOMIC DEVELOPMENT, Privatization and Commercialization of Government Owned Companies: Problems and Implications in a Depressed Economy Like Nigeria, The Effect of Monetary Policy on Economic Growth in Nigeria (1981-2014), Effect of Privatization of Government Owned Industries in Developing Economy (Nigeria), Corporate Governance and its Impact on the Management of MTN Mobile Communication Nigeria Ltd, Index Number Analysis on the Price of Petroleum on the Price of Food Items, The Effect of Tax Revenue on Economic Growth and Development in Nigeria, The Impact of Government Expenditure on Agriculture and Agricultural Output in Nigeria, FAMILY FACTORS AS A DETERMINANTS OF DEVIANT BEHAVIOR AMONG PRIMARY SCHOOL PUPILS, Effect of Privatization and Commercialization on the Nigerian Economy, The Role of Capital Market on Privatization Process in Nigeria, EFFECT OF CORPORATE TAX REVENUE ON ECONOMIC GROWTH OF NIGERIAN MANUFACTURING SECTOR, The Impact of Monetary Policy on Foreign Trade in Nigeria. So, it’s not a surprise that through time the theory of cooperative society found its second life on the territory of future Nigeria and West Africa in general. The aim of this paper is to examine the social and economic impact of cooperative societies in Nigeria and to investigate into their origin, history, formation and development. The herding of all livestock’s is often carried out in turns by the herdsmen. Common examples are Producer’s cooperatives, Consumer’s cooperatives, Marketing cooperatives, Credit cooperatives, Multi- purpose cooperative societies, etc. Some of these societies exist in Oredo Local Government Area of Edo State. 1.4 SIGNIFICANCE OF THE STUDY In this study, it is hopeful that the end of this research work will bring most problems that the small scale farmers suffer in accessing the funds, farm inputs extension service, though cooperatives will come to lime light. H1: Cooperative society is an instrument for improving cassava production in Nigeria. The idea of cooperative societies was first conceived in 1934 and in February 1936. Cooperative society in Nigeria is an important part of agrarian reforms in the country. This same method is used for skinning well, building irrigation reservoirs and ditches putting up houses and even burying the dead. This same method is used for skinning well, building irrigation reservoirs and ditches putting up houses and even burying the dead. Lack of clear policy guideline on cooperatives, 6. Members can hold shares in Cooperative Societies, however, no individual member can hold more than 20% of the shares of the society. To this effect, cooperative societies are very important economically; this does not means that they do not have some problem research is therefore an attempt to investigate the favourable and unfavourable impact of cooperative societies in Orhionmwon. To recognize the different types of cooperative societies in Oredo Local Government Area of Edo State. The importance of cooperative societies in Nigeria cannot be over emphasized. Also, one of the most importance role of every cooperative is to provide education, trading and information to both members and the general public. Amendment of bye-laws of a registered society. Working together or “ready to help”. It is an age long established fact that nobody can escape poverty without a savings habit. This goes on to affect their performance and growth, thereby causing them to shut down operations. Thank you so much for your respect to the authors copyright. Meet Gerawa Multi-purpose Cooperative Society based in Bauchi State, Nigeria PfD gives the greatest importance to the role of partners in every aspect of our work. The first thing cooperative societies do to individual members is development of savings culture. There are many cooperative businesses around the world, of which the cooperative group is one of the largest. It is an expected or free or continuously changing behaviour and may have a given individuals social status or social position. 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. In the US, cooperatives are often organized as non-capital stock corporations under state-specific cooperative laws. Cooperative 0.120** 0.017 Income Level 0.623* 0.186 Level of Education 0.232** 0.102 Source: Data analysis, 2014 * Significant at 5%, ** significant at 1% 3.3 Reasons for patronizing cooperative societies Table 3 shows the rating of important reason for patronizing cooperative society starting from the most There are various types of cooperative society in Lagos State and generally in Nigeria. The importance of cooperative societies in Nigeria cannot be over emphasized. Creating decent jobs 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. Lack of infrastructural facilities like regular and stable electricity, accessible roads, pipe-borne water etc. It is an expected or free or continuously changing behaviour and may have a given individuals social status or social position. Cooperative in his modern world is varied and it covers the work in all its business entities. 1. honesty B. loyalty C. frugality D. deceitfulness 1.6 SIGNIFICANCE OF STUDY Cassava is so significance in order to sustain any economy. Cooperative in his modern world is varied and it covers the work in all its business entities. Modish project is an organization aimed at facilitating students with their various research thesis materials, and also provide them with effective solutions in other academic concerns.Rely on us for a stress-free research project work, A-class academic materials, and easy guides through the course of your academic programme. In recent times, the importance’s of cooperatives have come into focus in West Africa countries. 3. 3. importance of cooperative society in nigeria economy. Sometimes cooperative societies find it difficult to survive due to certain factors and this has hampered growth in Nigeria’s economy. For PROPER paraphrasing (see your university definition of plagiarism and acceptable paraphrase) Registration C communication D. selling of shares; Which of the following is not a desirable character attribute for a member of a cooperative society? To defined and trace the origin of cooperative societies in Oredo Local Government Area of Edo State. More info . Establish a steering committee. Posted by UniProjects.Net under Project Topics and Materials. Downloadable! 2. The benefit of registering a cooperative society is to be recognized as an entity under the law in Nigeria, so that your dealings will be seen as authentic as no one would love to deal directly with an unregistered company let alone a cooperative society that is unregistered. It terms employment agriculture is by far the most importance sector of Nigeria’s economy engaging about 70% of the ... Edo State knowing the contribution of the impact of cooperative societies will encourage farmers and enlightened on the important of this society. The Oil Spring Housing Estate in Lugbe-Abuja is most certainly the biggest and most beautiful estate ever conceived or built by any cooperative society in Nigeria. The Rockdale 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, Rockdale. The profits earned by the co-operatives have been used for providing basic amenities to the society. project topic- role of cooperative societies in women empowerment and rural development (a case study of selected women cooperative societies in idemili north local government area anambra state . They are formed mainly to tackle a particular need and of course, to make a profit. As it is the sole federal government agency that is saddled with such responsibility. A cooperative society is an organization which is owned and run jointly by its members, who share the profits or benefits. A given economy is the result of a process that involves its technological evolution, history and social organization as well as its geography, natural resources endowment and ecology, as main factors, these factors give context, content, and set the conditions and parameters in which an economy functions. They also help take care of the crop or livestock in turns. Cooperatives may take the form of companies limited by shares or by guarantee, partnerships or unincorporated associations. 8. Strong cooperative networks enable practitioners in different parts of the world to share learning and best practice to one another. Cooperative societies play important role in micro-business development through granting of loan at a very low interest rate to entrepreneurs who belong to the society and also give them access to cheap raw materials through bulk purchasing at a much reduced price (Alufohai, 2006). The importance of cooperative societies in Nigeria cannot be over emphasized. ADVERT SPACE !! Registering your cooperative society is important to legalize and authenticate the association. CTRL + SPACE for auto-complete. Nairaland E-cooperative society / Covenant Fadama Multipurpose Cooperative Society Of Nigeria-the Sage Continues / Entrepreneur Youth (ogun State) Cooperative (1) ( Reply ) ( Go Down ) All You Need To Know About Cooperative by jethro2 : 10:32pm On Sep 08 , 2013 Autonomous cooperatives reach most of the poorest people in the community, they offer them basic infrastructure and growth, ignored by other large businesses. Cooperative: A cooperative is a group of people acting together to meet the common needs and aspirations of its members, sharing ownership and making decisions democratically. All livestock ’ s economy escape poverty without a savings habit is adaptable a... Be used in two different ways ; a, urban and National development influence! Present, many types of cooperative societies do to individual members is development of cooperatives have the capacity reduce. 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