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(A SURVEY OF PORT HARCOURT, RIVERS STATE)
Abstract
The study examines evolving significance of cooperative society in the development of national economy. The survey design was employed. The study was designed to focus on selected cooperative societies in Port Harcourt which include Hope Rising Cooperative Society, Amgbatuperetu Cooperative Society LTD and City Core Cooperative Society Ltd. The population of this study constitutes all members of selected cooperative societies in Port Harcourt which was unknown. The judgmental sampling technique was used for selecting the sample. The sample size of this study is judgmental sample of 60 respondents. In this study both the primary and secondary data were used. A self-designed questionnaire on the significance of cooperative society in the development of national economy was used and administered for the collection of data from the respondents. The data collected were processed electronically using Statistical Packages for Social Sciences (SPSS). The statistical test used in the analysis of the data collected was the Pearson product moment correlation coefficient. Findings amongst others revealed that there is a significant relationship between insurance cooperative and the development of national economy and that there is a positive significant relationship between banking societies and the development of national economy. Based on the findings of the study, its recommended that the Government should review the cooperative laws and regulations of the country from time to time in order to meet the desired needs and aspirations of the cooperatives and should also establish cooperative units under the various local government departments of Agriculture which will work hand in hand with the state and the federal agencies concerned with cooperative activities.
Table of Contents
Title Page i
Declaration iii
Certification iv
Dedication v
Acknowledgment vi
Abstract vii
Table of Contents viii
CHAPTER 1 1
INTRODUCTION 1
1.1 Background of the Study 1
1.2 Statement of the Problem 3
1.3 Objective of the Study 4
1.4 Research Question 5
1.5 Research Hypotheses 5
1.6 Significance of the Study 6
1.7 Scope of the Study 6
1.8 Limitation of Study 7
1.9 Definition of Terms 8
CHAPTER 2 9
REVIEW OF RELATED EMPIRICAL REVIEW 9
2.0 Introduction 9
2.1 Conceptual Framework 9
2.1.1 Concept of Cooperative Societies 10
2.1.2 Dimensions of Cooperative Societies 12
2.1.3 Origin of Cooperative Societies 14
2.1.4 Significance of Cooperative Societies 15
2.1.5 Establishment of Cooperative Societies in Nigeria 17
2.1.6 Forms of Cooperative Societies in Nigeria 19
2.1.7 Concept of Economic Development 21
2.1.8 Measures of Economic Development 22
2.1.9 Cooperative Societies and Economic Development 23
2.2 Theoretical Framework 24
2.3 Empirical Review 25
CHAPTER 3 27
RESEARCH METHODOLOGY 27
3.1 Introduction 27
3.2 Research Design 27
3.3 Population of the Study 27
3.4 Sampling Techniques Used 28
3.6 Source of Data 28
3.7 Research Instrument for Data Collection 29
3.9 Techniques for Data Analysis 30
CHAPTER 4 31
DATA PRESENTATION AND ANALYSIS 31
4.1 Data Presentation and Analysis 31
4.2 Data Analysis 32
4.3 Hypotheses Testing 38
CHAPTER 5 43
SUMMARY, CONCLUSION AND RECOMMENDATION 43
5.0 Introduction 43
5.1 Summary 43
5.2 Conclusion 44
5.3 Recommendations 44
References 46
Appendix I 49
Appendix II 50
CHAPTER 1
INTRODUCTION
1.1 Background of the Study
Co-operative societies or organization simply mean business organization owned and operated by a group of individuals for their mutual benefits whether many co-operations is worthwhile or not depends on the activity and the means by which such co-operation is brought about or maintained. Co-operation stems from unity and understanding. It is the brainchild of good neighborliness. Co-operation exists between individuals, friends, families, villages, states, and nations. When co-operation occurs among nations, bi-lateral agreement is often reached and endorsed. States of a particular nation’ can agree on trade terms. Nations can co-operate on cultural and technological matters (Orji, O.G).
The co-operative societies have only on instance of co-operation amongst the innumerable others like joint stock companies, capitalist cartels, marketing broad schemes, to mention but fens. We need to ascertain not so much the characteristics features of the co-operatives societies in particular. Legend has it that co-operation dates back as far as human being have being organizing for mutual benefits. Tribes were organized as co-operative structures, allocating job and resources among each other, only trading with the external communities. Post industrial Europe is home to the first co-operatives from an industrial context (Thompson, 2005).
Co-operation does not have one single acceptable definition. Co-operative societies or organisations (union) n not also have a single definition. Virtually, every writer on subject has his own definition. The new Webster Dictionary of the English Language defines Co-operation as working together towards a common end. In economic sense, it is a group of producers, distributors etc co-operating and sharing profits.
Oxford Advanced Learners” Dictionary defines: operation as, doing something or working together. In every sense, persons, groups or organisations that have joined together for a common purpose are said to be co-operating. The co-operative societies, away from capitalist cartels, political organization and religions bodies operate distinctly within the ambit of “a law” establishing it. The ordinance stipulates that there should be political and religious neutrality. This is so because political and religion inclination breed rancour disgust and antagonism, and these attributes are not in consonance with a co-operative movement (Orji, O.G).
Although, co-operative society engaged in business transactions with outside’s (non-members) generally, the members owns and manage the affairs of capitalist cartels, which employs non-owners to work for a wage. The co-operative system does take over the whole economic activities of any country. For instance, there are no co-operatives railways, ocean liners or international airtime, co-operation played very little part in heavy engineering.
The field in which co-operative societies is strong and seems to have almost unlimited scope for development are agriculture, landing of agricultural products, the production and distribution of consumers goods, banking and insurance.
Co-operative societies also played a useful part in the organization of forestry, local transport, housing some high industries and certain public services, where local or material governments do not provide these.
In assessing the performance of co-operative society’s operators believes that the essential consideration is whether they have achieved their basic objectives from project specification and the national point of view. Ijere (2006) opined that, “one way of assessing the impact of co-operative society is by looking at the extent of which that society has been able to achieve its socio-economic objectives”. Co-operation does not have one single accepted definition. Co-operative societies or organisations (union) do not also have a single definition. Virtually, every writer on subject has his own definition. From the foregoing therefore, the study is determined to examine the evolving significant of cooperative societies in the development national economy.
1.2 Statement of the Problem
The federal government has been making deliberate attempts in raising the living and the general welfare of its citizens. Such meaningful efforts manifest themselves in policies directed towards improved production of food, massive investment, education and industrial projects to mention but a few. However, there are obvious constraints that militate against the maximum realization of those policy goals. These constraints might be in form of “resource short falls” or deficient “management”. This goes to indicate that the government cannot provide all the essential services for the individual. The strive for survival therefore lies on the individuals to supplement government efforts for their materials well being. Where the individual is enabled to do this, he seeks an association with other people.
Hence, in order to improve their economic well being, most rural communities and indeed, a part of the urban population have formed co-operatives, thereby pooling their resources to do things, as individuals they are humble to do so. Society usually stands out sufficiently, clearly, in terms of their economic, cultural and social and often psychological condition. In Nigeria, there are numerous co-operative organizations in operation; this study seeks to investigate the existence and activities of co-operatives in order to evaluate, exploit and appraise their performance with regards to the following objectives: to increase the standard of living, educate their members and to encourage socio-economic development in the state, provide goods and services to its members and this enable them to attain increased income and saving, investments, productively and purchasing power and promote among them, equitable distribution of net surplus through maximum utilization of economics of scale, cost-sharing and risk-sharing etc. By so doing, we can establish whether or not the co-operatives organizations have contributed in any measure to the development process of Nigeria. Therefore, the study seeks to examine the evolving significant of cooperative societies in the development national economy.
1.3 Objective of the Study
The main objective of the study is to examine the evolving significance of cooperative societies in the development national economy. The specific objective include:
1. To examine the extent to which banking societies enhance the development of national economy.
2. To examine the extent agricultural cooperative societies associate with the development of national economy.
3. To examine the relationship between industrial cooperative societies the development of national economy.
4. To examine the extent to which insurance cooperative lead to the development of national economy.
1.4 Research Question
In the course of this study, efforts would be made to answer the following relevant questions:
1. To what extent does banking societies enhance the development of national economy?
2. To what extent does an agricultural cooperative society associate with the development of national economy?
3. To what extent does industrial cooperative societies with the development of national economy.
4. To what extent does insurance cooperative lead to the development of national economy?
1.5 Research Hypotheses
The following hypotheses were formulated to guide the study:
Ho1: There is no significant relationship between banking societies and the development of national economy.
Ho2: There is no significant relationship between agricultural cooperative societies and the development of national economy.
Ho3: There is no significant relationship between industrial cooperative societies and the development of national economy.
Ho4: There is no significant relationship between insurance cooperative and the development of national economy.
1.6 Significance of the Study
Over the years, co-operatives society of various kinds has been established in all part of the country. Nigeria in particular has about 100 percent rural dwellers, poor workers, peasant farmers, craftsman’s autism, students etc.
This study therefore becomes very significant, in fact, it arms at revealing whether or not the co-operative societies as it function in Rivers State has improved the lots of people in the areas of employment, increase production, savings, creation of credits, and supply of requisite and marketing of products.
Secondly, it will make a co-operative analysis of the organization over the years which will lead us to assess and determine its performance in relation to the economic development of the state generally.
1.7 Scope of the Study
The study is delimited under the following heading: content scope, geographical scope and unit of analysis.
Content Scope: The content scope of this study involves an investigation to ascertain co-operative societies and the development of national economy. The dependent variable is economic development, measured by infrastructure, GNP per capita and GDP. While independent variable is cooperative society’s measure by insurance cooperative, industrial cooperative societies, agricultural cooperative societies and banking societies.
Geographical Scope: This study is delimited in Port Harcourt Rivers State with references to selected cooperative societies Port Harcourt which include Hope Rising Cooperative Society, Amgbatuperetu Cooperative Society LTD and City Core Cooperative Society Ltd.
Unit of Analysis: The unit of analysis in this research involves all management and members of the selected cooperative societies at the time of the study.
1.8 Limitation of Study
The study was limited by the following:
The level of frankness in response to questions by the respondents is quite doubtful.
Finance: Accessing fund for the research work was difficult and this limited the quality of research activity.
Time: The time allocated to the research work was not sufficient to give room for further intensive work on the field of study.
Organization Policy: Policies of the organization limited the level of information received. The personnel of the firms were not willing to give information, stating that it was against the organization’s policy.
1.9 Definition of Terms
Definition of some of the key words in this work should be briefly discussed below to enable the research to fully digest the media message in the research.
Co-operative society: A co-operatives society may be defined as an autonomous association of persons who voluntarily cooperate for their mutual social economic and cultural benefits.
Co-operative as Legal Entities: A co-operative is a legal entity owned and democratically controlled by its members.
Development: Development is defined as the phenomenon of improvement in material, physical, mental spiritual and moral quality of life, resulting from rising real incomes as to reduce or evaluate poverty, unemployment, justified the provision of better food, shelter, health, education and production.
Rural Development: Rural Development is concerned with the improvement of living standards for the low-income earners population living in the rural areas.
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