Co-Operative As A Solid Growth Driver Towards Economic Development Of Enugu State (A Case Study Of Selected Co-Operative Societies In Udi Local Government Area Of Enugu State)
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This project work is dedicated to my dearest father late Mr. Cypril Chime (Whose love was a source of inspiration).
First and foremost, I am using this medium to acknowledge the greatest role played by my parent Mrs. Theresa Chime who made this project a reality through their moral, physical and financial support.
I am also using this means to acknowledge the great role played by Mr. Mike Okonkwo who is not only my supervisor but also my hero. His guidelines and advice really provide valuable during the cause of writing this project.
Thanks to all my lecturers in the department of Co-operative Economics and Management for their efforts towards our academic.
This research work will be incomplete if I fail to mention the names of my siblings that contributed in one way or the other to ensure that this work was a success.
My greatest gratitude goes to the Almighty God for His kindness, blessing, guidance, long life given to my family and my beloved ones.
Academic work is time consuming and costly since ages. Generations to come con not know what their predecessors know without research into the area. The importance of cooperative society towards Nigeria economy cannot be overemphasized. This societies are needed for the economic growth especially in rural areas where there is no or low development and also to urban too. Analysis has been shown that cooperative societies have contributed creditable to the development in the sense that raw materials needed by our Local industries can be produced totally by cooperative society especially the multi-purpose cooperative society instead of being imported (raw materials) from abroad.
This research work therefore, studies the contributions of cooperative society to the economic development of our economy. Fact about this contribution are extracted from textbooks, articles, diaries, lecturer notes and both local and foreign website. A glimpse at the various chapter of this work tend to explain the contribution cooperative societies have made so far.
This project is divided into five chapters firstly, it gives an insight to introduction, background of the study from 1.0-19, chapter one enhances our purpose of the study.
Chapter two deals with literature review, the literature has to do with the examination of the study previously done in relation to methodology, which means any effort to verify to basic information, i.e. data collection, population and sample, research design, sample techniques and data analysis techniques, there are also ways of sourcing data, the primary source and secondary source.
Chapter four dwells on presentation and analysis of data, this chapter deals with the presentation of data collected from questionnaires together with analysis and interpretation of findings. Chapter five involves all summary, conclusions and recommendation from the data collected and analysis made.
Table Of Contents
- Title page i
- Approval page ii
- Dedication iii
- Acknowledgement iv
- Abstract v
- Table of Contents vi-viii
- 1.0 Introduction 1-2
- 1.1 Background of the study 2-3
- 1.2 Statement of the problem 3-5
- 1.3 Objectives of the study 5
- 1.4 Research Question 6
- 1.5 Statement of the Hypothesis 6-7
- 1.6 Significance of the study 7-8
- 1.7 Scope of the study 8
- 1.8 Limitation of the study 9-10
- 1.9 Definition of terms 10-13
- 2.0 Literature Review 14-22
- 2.1 Meaning of co-operative as a legal entity 22-32
- 2.2 History of co-operative in Nigeria 32-34
- 2.3 Measuring the economic Impact of co-operative 34-38
- 2.4 Membership of Enugu Federation 38-39
- 2.5 Functions of Enugu State Co-operative Federation 39-46
- 2.6 Problems of Co-operative in Nigeria 46-51
- 3.0 Research Design and Methodology 52
- 3.1 Introduction 52
- 3.2 Research Design 53
- 3.3 Sources/Method of Data Collection 54-55
- 3.4 Population and Sample Size 56-57
- 3.5 Sample Techniques 57
- 3.6 Validity and Reliability of Measuring Instruments 57-58
- 3.7 Method of Data Analysis 58-59
- 4.0 Presentation and Analysis of data 60
- 4.1 Introduction 60
- 4.2 Presentation of Data 60-62
- 4.3 Analysis of Data 62-72
- 4.4 Test of Hypothesis 72-76
- 4.5 Interpretation of Result 76-77
- 5.0 Summary of Findings, Conclusion and Recommendation 78
- 5.1 Introductions 78
- 5.2 Summary 78-79
- 5.3 Conclusion 80-81
- 5.4 Recommendation 81-83
- Bibliography 84
- Appendix 85
- Questionnaire 86-89
Co-operative as a business model, are not a new concept in Nigeria. Co-operative act as agent towards sustainable community development. Cooperative act as an important role in community development in the rural, northern and remote communities, they provide a means of addressing many social and economic concerns as youth retention, community identify/spirit and preventing leakage f local money.
A Co-operative is defined by international Co-operative Alliance statement on the Co-operative identity as an autonomous association of person united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owed and democratically controlled enterprise.
It may also be defined as a business owned and controlled equally by the people who use its services or who work at its Co-operative economics.
1.1 Background Of The Study
Co-operative society is a society formed by a group of persons who have voluntarily agreed to come and pull their resources together to finance and control for their economic benefit (Ozuitem and Mbanasor 2009).
In light from the foregoing, co-operative organization are business organizations that invest much concern on its member’s economic well being through contributory efforts with the aim of achieving a set goal. (Mbansor 2005).
Co-operative Society contributed to the society’s economic development in so many ways. It is also center where Government operates its activities in alleviating the poverty of member by giving to them loans and also providing equipment to work. Co-operative Societies has rules and regulations that governs it activities like any other business to irrespective of their kind of Co-operatives Societies formed. It is democratic in nature where member have the right contest for any post in the society and may wish to employ an external body to conduct election for them.
In the past, Co-operative Society was in form of community (attributed to Robert Owen) where people contribute what they have for their social well being as a result of the industrial revolution which was one of the ills of the era that brought terrible suffering to the masses. As times proceeds, adjustment and readjustments was made as regarded to its administration and now grown into a full statutory body. Different co-operative societies have come up are employing progress based on strict principle of the organization. (Ozuitem 2008).
1.2 Statement Of The Problem
Upon all this incentive given to societies by the Government to see its progress, yet a lot of problems still exist and it is these problems that the researcher has in mind such problems are:
1. Lack of effective management:
The co-operative society is experiencing inadequate managerial skills.
Some of the management and the members of the co-operative are illiterate and do not know or understand the term co-operative.
3. Lack of adequate finance:
We all know that finance is the all and all in this world for any business to stand it has been identified among the problems weakening the progress of the co-operative society. In fourth national development plan of 1980-1984, the total sum of N173, 21million was embarked for running co-operative in Nigeria, Government has also made various sources of finance its agricultural scheme, co-operative banks etc. Yet their exist some problems to the light of this, the researcher looks into identifying the means of improving these societies in the economic development in its area of operation.
1.3 Objectives Of The Study
This study will not doubt the immense benefit to the co-operative societies for the research into finding out the sources of fund for achieving records, the problem and strategies for solving them.
The objective are as follows:
- To ascertain the socio-economic characteristics of members in the co-operative.
- To find out the nature and types of members business in area of study.
- To determine the ways that those co-operative have helped in the development of the area.
- To identify the problems encountered by the co-operative in the discharge of their functions.
- Make recommendation based on the findings.
1.4 Research Questions
The researcher questions for the study are as follows:
- What are the contributions of co-operative towards the increase of capital development?
- What are the contributions of co-operative towards output growth?
- What are the contributions of co-operative societies towards provision of infrastructure facilities?
- What are various sources of finance for the co-operative in Udi Local Government Area?
- What are the various problem confronting co-operative societies in Udi Local Government Area?
1.5 Statement Of Hypothesis
The term hypothesis can be defined as a proposition or abstraction from reality which are designated by words or phrase and may be judged true or false if the refer to observable phenomenon or a statement of assumption of relationship between at least two variables in a project study, therefore the hypothesis of this study is stated thus:
- Hi: Co-operative Societies have contributed to the success of members.
Ho: Co-operative Societies do not contribute to the success of the members.
- Hi: Inadequate finding hinders the practice of Co-operative Societies.
Ho: Inadequate finding do not hinder the practice of Co-operative Societies.
1.6 Significance Of The Study
It is envisaged that the finding of the study will be of value of thus;
Member will appreciate the need for them to be committed to the co-operative business as a way of taking.
The public to general will understand the need to for or join co-operative society in order to increase their per capital income as well as the nationals gross domestic produce (GDP) especially in Udi Local Government Area.
This will help the government to embark on polices that will promote and create a conducive atmosphere necessary to support the growth and success of the Co-operative Societies. The findings will also act as references material for other research.
1.7 Scope Of The Study
In the research work, the area that was covered is the introduction that pointed out co-operative as a growth driver in the economic development of Nigeria and the research will limits this study with the contribution of Udi Local Government Co-operative Society limits Enugu State.
1.1 Limitations Of The Study
The study is limited to Udi Local Government Co-operative Society in Enugu State and the finding may not be valid for the whole Government but what happens in Udi can be said to applying other Co-operative in town. This research is intended to cover more on the contribution of Co-operative in the economic development of Nigeria but as a certain factors militating against the research. All humans activities are faced with the same problem which the research encountered during the course of the study.
They are as follows:
i. Availability of relevant material:
as a result of this, it became difficult for the research to obtain enough information as can be seen in chapters of this project.
In terms of going to Udi Co-operative society for the distribution and collection of questionnaire for the project is very hectic.
Finance is another limitation encountered by the researcher. It was difficult for the researcher to raise enough money for transportation and other things (Uzoka 2009 financial management).
is the problem of time couple with crowded semester programmed. The researcher attends classes at the same time working on the project.
1.9 Definition Of Term
According to the international co-operative alliance (ICA) Co-operative is an autonomous association of persons united voluntary to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically controlled enterprise.
This is a system to which people live together in an organized form to achieve specific aim. Definition of Co-operative Society or business; a Co-operative Society or business is voluntary owned and operated by people (owner/member) that have identified their social and economic needs and have fixed common realize objective to respond to the need.
3. Primary Co-operative Societies:
They are usually formed with a minimum of producer, consumer, marketing thrift and credit Co-operative Societies.
4. Secondary Co-operative Societies:
They are referred to as Co-operative; it is the coming together of two or more Co-operative Societies. They co-ordinate and control the activities of the Primary Societies.
The task or duties of Co-operative Society.
6. Economic Development:
Any activity likely to improve the standard of living of individuals and society in general.
7. Co-operative Shop:
They are sort of supermarket organized and managed by the Co-operative Societies for benefit of its member and non-members.
8. Co-operative Inspector:
They are employed by the Government to take charge of supervision of the activities and programmed of Primary/Secondary activities in an area. They also organized seminars to acquaint Co-operative with new ideas.
9. Multi-Purpose Co-operative Societies:
This type of Co-operative has different objective and roles to perform.
10. Farmers Co-operative Societies:
These are association of farmers who come together to produce jointly using Co-operative tools.
11. Marketing Co-operative:
They market jointly items produce by the individual members.
12. Consumer Co-operative:
They consume good and sell to their member thus, avoiding the exploits of the middle men.
13. Thrift and Credit Co-operative Societies:
These societies encourage member to make periodic deposit.
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How to nail it on the head during your project defence
You are through with writing that project. Now what?
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The structure of a good project work
Undergraduate projects in Nigeria is a prerequisite for graduation amongst Nigerian tertiary students who will which to obtain bachelors degree in their respective courses of study such as accounting, banking and finance, business administration and a host of others. Writing an undergraduate project in Nigeria for final year students entails a lot both financially and otherwise. Being able to develop any final year project depends on getting a researchable topic whether it is Accounting Undergraduate project topics, Banking and Finance research topics or banking and finance project topics and materials and it all requires diligent hard work of students who are willing to develop best undergraduate projects in Nigeria and graduate in flying colors.
A typical Undergraduate project in Nigerian tertiary institutions can be said to be divided into five or six chapters depending on the format of the school and course of study which are
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Below are the contents in chapter one of an undergraduate research project which includes;
- Background of the study,
- Statement of the problem,
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- Research hypothesis,
- Significance of the study,
- Scope of the study,
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Literature review of any undergraduate research work, be it business administration project topics or Economics project topics just to mention a few is very critical to securing a high grade in one’s project work. The literature review of a research process uncovers what other writers have written about the student’s topic. A student’s undergraduate research work should include a discussion or review of what is known about the subject and how that knowledge was acquired. The review could conclude with a brief summary of the literature and its implications. The contents of the literature review are the theoretical review, conceptual framework, empirical review and summary of literature review.
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