The Role Of Consumer Co-operative In Economic Development (A Case Study Of Nkwere Local Government In Imo State)
This research project is on “ the role of consumer co-operative societies in Economic development”. A case study of the consumer co-operative societies in Nkwere Local Government Area of Imo state.
The ultimate objective of this study is to critically examine the impacts and roles which consumer co-operative play in promoting the socio-economic condition of people of Nkwere local government area of Imo state.
Total population of 69 was chosen and sample size of 58 was selected.
A survey research was used for this study, research questions were distributed and some were used. The questionnaire were analyzed and converted to percentages.
Based on the data collected, some deductions were made.
However, the researcher hoped that the suggestions and deductions of the study will be considered by the relevant authorities, they may encourage enthusiasm and improvement in the consumer co-operative societies in Nkwere and society at large.
Table Of Contents
- Title page
- Table of contents
- 1.1 Background of the Study
- 1.2 Statement of Problem
- 1.3 Objectives of the Study
- 1.4 Scope of the Study
- 1.5 Research Question
- 1.6 statement of Hypothesis
- 1.7 Significance of the Study
- 1.8 limitation of the study
- 1.9 Definitions of Terms
2.0 The Review of Related Literature
- 2.1 Definition and Origin Of Consumer Co-Operative
- 2.2 Sources of Funds In Consumer Cooperative Societies
- 2.3 Managing Consumer Cooperative Societies
- 2.4 How Consumer Cooperative came to Nigeria
- 2.5 types of consumer Cooperative Societies in Nkwere Local Government Area
- 2.6 Achievement of the consumer cooperative societies in Nkwere local government area
3.0 Research Methodology
- 3.1 Introduction
- 3.2 Research Design
- 3.3 Sampling Design
- 3.4 Method Of Data Collection
- 3.5 Method Of Analysis
4.0 Presentation and Analysis of Data
- 4.1 Presentation Of Data
- 4.2 Analysis Of Data
- 4.3 Test Of Hypothesis
- 4.4 Discussion Of Results
5.0 Summary Conclusion and Recommendation
- 5.1 summaries
- 5.2 conclusions
- 5.3 Recommendation
1.1 Background Of The Study
Co-operative according to Samuel. C. Chuwku (1990:1) is a generic term. Any form of association of two or more persons working together to achieve some aim or aims, such working together may be on a formalized or informal basis, economic or non economic.
Furthermore, consumer co-operative society according to Helm F.C (1968:2) is defined as “An organization formed to supply members’ households with suitable assortment of consumer goods of good quality and at reduced price, thus increasing the member’s income and their standard of living.”
The first successful co-operative that ever existed was the Rochdale equitable pioneers of 1844.
However, the consumer co-operative societies in Nkwere local government area concerned with the empowerment of members whose coherence and vitality are derived from the concept of service to members and to the community. Consumer co-operative societies in Nkwere loca government area continue to exist because of the unfair prices charged by the middlemen, which was beyond the reach of income earners.
However, the various consumer co-operative societies in Nkwere local government area came as a result of exploitation in the economic system, commodities were not sold in good weight and measures, standard were not kept, prices of commodities were not fair, and exploitation existed in different forms.
Furthermore, because of the above irregularities, the people of Nkwere local government came together (those with common economic interest)to look for ways to improve their standard of living. It therefore led to the formation of various consumer co-operatives in Nkwere local government, with the existence of these consumer co-operative societies in Nkwere, income per capital of people was increased and the co-operatives have come to rescue the people and have contributed to the development of the economy of the people.
1.2 Statement Of Problems
There are series of problems that arises in the economic development of Nkwere local government.
This study will find out how the economic development of Nkwere local government will be improved and contributed more meaningful to the standard of living of the people.
Some of the problems encountered by the people of Nkwere local government can be stated as follows;
This project work emphasizes the facts that the existence of consumer co-operative societies in Nkwere local government area is not futility.
Besides, the researcher seeks to establish that consumer co-operative societies have come to stay in order to abolish the evil of the capitalist and make life easier to the people.
The study also focuses on the types of consumer co-operatives in Nkwere local government area in the activities of the societies and their numerous advantages and limitations.
1.3 The Objective Of The Study
This study therefore is to find out the numerous roles, which consumer co-operative societies play towards the economic development of Nkwere local government area.
Some of the objectives are as follow;
- To point out the needs and importance of consumer co-operative societies in the present Nigeria as practiced by the consumer co-operative societies of Nkwere local government area of Imo State.
- To observe if the members of consumer co-operative societies farewell in the society as a result of the movement.
- To study the needs and possibilities of increasing the numbers of co-operative societies in Nkwere local government area.
- To critically examine the impact which consumer co-operative societies play in promoting the economic growth and development of Imo State
- To examine the various ways by which the numerous problems facing the consumer co-operative societies in Nkwere local government are solved.
1.4 Scope Of The Study
The broad topic of this project is on the role of consumer co-operative societies in the economic development. The main focus however is on consumer co-operatives in Nkwere local government area of Imo State.
The study will therefore, cover all the activities engaged by the Nkwere consumer co-operative societies.
There are other related co-operative societies where relevant data in relation to the above topic can be gotten but the researcher decided to restrict the study within the boundary of Nkwere local government of Imo State.
1.5 Research Questions
For the purpose of taking this topic prudently and effectively the following questions are to be employed.
- What are the main objectives of consumer co-operatives in Nkwere local government area of Imo State.
- What are the advantages which members of consumer co-operative societies enjoy
- Is the consumer co-operative societies in Nkwere the only organization that ensure the education of its members.
- Do consumer co-operatives societies help in reduction of crime through the creation of employment opportunities.
- Is it true that activities of consumer co-operative societies has reduced too much dependency of imported goods.
- Does the role of consumer co-operative societies have significant effect in the economic development.
- Has rural-urban migration become a thing of past because of activities of consumer co-operative societies.
- What are the major problem which consumer co-operatives have been facing seriously.
- Is there any mutual co-operation among the members of consumer co-operative societies.
- Does the actions of consumer co-operative societies have positive influence on its members.
- Does dishonesty and corruption hinder the activities of consumer co-operative societies.
- Is it true that members of consumer co-operative societies cannot survive without the existence of consumer co-operative societies.
1.6 Statement Of Hypothesis
As a guiding principle to achieve the aims already stated, and basis for empirical judgment to establish that actions is not without purpose, it becomes imperative to have hypothetical statements which is to be accept or reject at the conclusion of this research.
- Ho The roles of consumer co-operatives societies have no significant effect on economic development.
H1 The roles of consumer co-operative societies have significant effect on economic development.
- Ho The actions of consumer co-operative societies have negative influence on its members.
H1 The actions of consumer co-operative societies have positive influence on its members.
1.7 Significance Of The Study.
The significance of the study generally means the important of the study. This study of consumer co-operative societies has been of great impact in the area of the study.
- The study intends to explore how consumer co-operative can contribute to the economic well being of the people.
- To ascertain the relevance of consumer co-operative society.
- To add to existing volume of literature in co-operative society.
- The study becomes more significant at this time that Nigeria economy is uncertain. It will help to create greater awareness among students, members and enhance business partnership or advantages of forming consumer co-operative to run business in stead of sole proprietorship.
1.8 Limitation Of The Study:
In the carrying out this project, one has to put up with a number of constraints which are:a)
Time was limiting factor to the research work. The project was carried out under normal academic session had no alternative than to combine the tight academic timetable with the research project.
There was trouble here and there, members of consumer co-operative societies of Nkwere local government area never kept to appointment, they usually post pone the appointment, due to one reason or the other.
Transportation cost was very high fuel scarcity was at Its greatest increase.
Lack Of Adequate Materials:
There were insufficient materials to make up the project work because of negative attitude of respondents which some how limits the interviews information gathered.
1.9 Definitions Of Terms
Below are the following terms, which are found in this write up and in order to ensure the readers understanding of the write up.
A self help organization formed by the either consumer or producers of goods and services. It is formal to provide service for its numbers.
Consumer Co-Operative Societies:
these are organization formal formed to supply member household with a suitable assortment of consumer goods of good quality and reasonable price.
this is desire by all the registered members of co-operative to seek salvation for each other and for all members of the same co-operative.
This means buying in larger quantity and sole in smaller quantity.
They are the people that buy goods and service in smaller quantities and sell directly to consumers.
The small town where co-operative was funded.
Purchasing goods without paying immediately.
Owners Users Enterprise:
This means that the member are the seller and the same time the buyer of goods and service.
This means those benefit that help to improve the welfare and standard of the Living of individual members.
This means that the economic end results arising out of the operation of a cooperative society belong to the members of that society and shall be distribute in such a manner as would avoid one member gaining at the expense of the rest.
5.0 Summary Conclusion And Recommendation
The summary of this research work has demonstrated the numerous advantages of consumer cooperative societies in Nkwere local government area.
It also emphasized or based on the role which consumer cooperative societies play in the economic development.
This project work has shown and discussed the impact which the activities of consumer cooperative societies of Nkwere local government area have on the people of Nkwere.
The study also spotlighted the limitations and weakness of the co-operative which stands as a bottleneck to the success of the societies and also offered possible solution to there problem.
Based on the information contained in this research work, there is no need for one to deny the fact that consumer cooperative societies in Nkwere local government area forces to be reckoned with in the successful management of the economic activities of Nkwere.
Despite the fact that the impact of consumer cooperative societies is largely felt in Imo state and nation wide, the existence of these co-operatives and their effective administration are still faced with many problems.
However, the work was presented in a way that every average educated entity will understand and comprehend what is being written questions asked was carefully and analysed in order to communicate the message.
Finally, the role of consumer cooperative societies is effectively felt in Nkwere local government and even in other parts of the states. Consumer cooperative societies in Nkwere local government area must be encourage so that they will continue playing major roles in the improving of economy of Imo state.
It is the view of the study that government should go a long way to improve the operation, the operations and administration of consumer cooperative societies in Nkwere local government.
However, it is the researcher’s view that if the following recommendations are adopted and implement these problems currently facing the consumer cooperative societies in Nkwere local government will therefore be a thing of past. In order to make some improvement the researcher will make some recommendations.
- Various sources of fund should be made available to the consumer cooperative societies in Nkwere local government area both internal and external so that their financial problems will be tackled.
- Government should support and encourage the consumer cooperative societies in Nkwere local government but should allow them to operate independently.
- Too much of government control should not be allowed in the activities of consumer cooperatives.
- Corrupt government cooperative officials and employees must not be given the opportunities to operate in the activities of consumer cooperatives.
- Co-operative experts should be sent to the consumers cooperative societies in Nkwere local government in order to avoid poor management of the co-operative movement.
- Consumer cooperative schools should be established in Imo state in order to ensure rapid development and progress.
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