Origin and development of co-operative societies in nigeria

Thesis Overview

<p> </p><p><strong>INTRODUCTION</strong></p><p><strong>BACKGROUND OF THE STUDY</strong></p><p>The history of modern co-operative society in Nigeria dates back to 1933 when the government of Nigeria arranged for an inspection to be carried out by M.C.F Strickland a co-operating expert, who for three months December 1933 to March 1934 investigated the possibility of introducing a co-operative system into Nigeria.</p><p>Mr. Jlriok – land strongly recommended the introduction of co-operatives into Niger and his report submitted in 1934 (April) forms the main point for the introduction of modern co-operation into Nigeria. Mr. Strickland also drafted a proposed ordinance and regulation. His report was accepted and quickly implemented co-operative was registered in the name of Mr. E.F.G Haig, was appointed and sent for training in overseas. Mr. Haig studied the Indian co-operative law and modified it for use in Nigeria.</p><p>By 1934, many co-operative has been formed. The first co-operative society to be registered was that G. Bedun near Ibada in 1937 late Chief Akinpene Obisesan who is regarded as the father of Gbedum Co-operative produces marketing society limited following this, many co-operative were formed all over the country.</p><p>A co-operative is an association of persons united, social and austral used and aspirations through a jointly owned and democratically controlled enterprise. A co-operative is an association of persons into a capital.</p><p>The interest of the members must come before those of capital. The group of persons is the social element.</p><p>In early 80s, so many co-operatives was formed, this is done so as to enable members to save their money and also with the aim of borrowing loans from the society a lot of progress was gain by member because of the low rate of interest also, it encourage members to borrow money from other organization. However, co-operative have played an effective role to the socioeconomic development and growth of the society today. This will take the ovation to a greater height in such a way that individuals and organizations does not lack fund. The nation will be push to a fretter industrial and technological stage.</p><p><strong>1.2 &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;</strong><strong>STATEMENT OF THE PROBLEM</strong></p><p>The problem associated with the development of co-operative is that there are many problems, which prevent it from not performing, as well as it should, these include:</p><p>a. &nbsp; &nbsp; &nbsp; Poor members and high level of illiteracy among members, low public awareness of co-operative potential lecturers and seminar are not held by the member, this leads to which level of ignorance of member.</p><p>b. &nbsp; &nbsp; &nbsp; &nbsp; <strong>LACK OF INTEREST AMONG MEMBERS</strong></p><p>Low level of participation, the char action is what belongs to everybody, belongs to nobody, non-participation has caused problem for the development of co-operative in Nigeria.</p><p>c. &nbsp; &nbsp; &nbsp; &nbsp; <strong>POOR MANAGEMENT</strong></p><p>Poor management by the official and members has caused problems to the development of co-operative in Nigeria. Not keeping the account book in safe for audit will lead to problem.</p><p>1.3 &nbsp; &nbsp; &nbsp;<strong>PURPOSES AND OBJECTIVE OF THE STUDY</strong></p><p>a. &nbsp; &nbsp; &nbsp; &nbsp; To determine the contribution of the co-operative movement to the economic of their members.</p><p>b. &nbsp; &nbsp; &nbsp; &nbsp; To measure community awareness of the co-operative in its immediate environment.</p><p>c. &nbsp; &nbsp; &nbsp; &nbsp; To examine the management of co-operative</p><p>d. &nbsp; &nbsp; &nbsp; &nbsp; To determine the sources of funds for the co-operative and how surplus are shared among the members.</p><p>1.4 &nbsp; &nbsp; &nbsp; <strong>SIGNIFICANCE OF THE STUDY</strong></p><p>The research work will be useful with the following importance:</p><p>a. &nbsp; &nbsp; &nbsp; &nbsp; To student and scholars studying co-operative in higher institution system.</p><p>b. &nbsp; &nbsp; &nbsp; &nbsp; For further development of co-operative society in Nigeria, in order to redress the daily exploitation, which people suffer at hard of profit earning middlemen during the capitalist system.</p><p>c. &nbsp; &nbsp; &nbsp; &nbsp; To official of the society as a standard of internal evaluation and control performance in co-operative societies.</p><p>d. &nbsp; &nbsp; &nbsp; &nbsp; The research scholars who may wish to carry out further, the matter on related topics.</p> <br><p></p>