IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 4 NO. 6 2018

---

Contributions of Co-Operative Societies to Economic Development in Kogi State, Nigeria

Ademu Yunusa & Aduku Danlami Joseph, Elesho Temitope Michael AND Nweke Prince Onyemaechi

---

Abstract

This paper examined the contributions of cooperative societies to economic development in Kogi State, Nigeria. The paper also attempts to investigate the effects of cooperative societies to the economic development of Nigeria. Two research questions were formulated and posed for the study. The paper adopted a descriptive survey designed. The study was carried out in Yagba East Local Government Area of Kogi State, Nigeria. The population of the study was 750 respondents. The instrument for the data collection was structured questionnaire developed by the researchers. Frequency and percentages were used to answer the research questions. The findings of the study revealed that cooperative societies have been faced with the problem of inadequate financing to loan and equipping their members. The findings of the study also revealed that the major setbacks in establishing and running co-operative societies are lack of appropriate leadership and suitable management control. From the findings of the study, the study recommended that cooperative societies in Nigeria should make optimum use of all resources and strive continuously to enhance productivity of resources; ensure highest efficiency while providing services to members; improve management capabilities and competencies through effective organizational designs and structures; mobilize capital and as well set greater stress on internal capital formation and accumulation. The study also recommended that the government should contribute significantly to improve cooperative performance by facilitating access of cooperatives support services and their human resource development.

Cooperative Societies, Economic Development, Rebuilding, Society, Developmen

---

References:

Abell P (2004). Cooperative Movement, Encyclopedia Encarta 2004 Edition
Adeyemi B (2014). Corporate governance and cooperative societies: A survey of tertiary
institutions in Oyo, Nigeria. Developing Country Studies 4(12): 8 – 17. Available at
http://www.iiste.org
Agbasi O (2010). The Role of cooperative in entrepreneurial development‘, in Nkamnebe,
A.D. and Nwankwo, F. (eds.) Capacity Building in Management and Entrepreneurship
for Sustainable Development, Nimo: Rex Charles and Patrick.
Ahmad BD (2005). The role of cooperative societies in economic development. Journal of the
Department of Public Administration, Ahmadu Bello University, Zaria-Nigeria
Babalola AO, Odebiyi II, Abdullahi FH (2014). The Role of Co-operative Societies in the
Purchase and Distribution of Consumer Goods: A Case Study of Senstaf Cooperative
Society Ltd., Bida). Journal of Business and Organizational Development. 6(1): 14 –
28.
Baiyere BE (1999). A Survey of Focus Constructions in Owé, Ìyàgbà. Available at:
https://www.researchgate.net/publication/268439120
Brasilia L (2008). Corporate Governance. Guidelines for Good Practices of Financial
Cooperative Governance. Banco. Central Do Brasil. Available at:
http://www.bcb.gov.br/?PUBLICATIONSALPHA
Cheney G (1995). Democracy in the Workplace”, Journal of Applied Communication, Vol.
23
Chikaire J, Nnadi FN, Osuagwu CO, Oguegbuchulam MN, Oparaojiaku J, Jamilu AA, Osigwe
T (2011), Cooperatives: A Vehicle for Rural Development: The Case of Ahiazu Mbaise
Area of Imo State, Nigeria. Journal of Nature and Science, 9(11): 1-6
Clarkson MBE (1995). A Stakeholder Framework for Analyzing and Evaluating
Corporate Social Performance. Academy of Management Review, 20(1): 92-117
Dogarawa AB (2005). The Role of Cooperative Societies in Economic Development. Journal
of the Department of Public Administration, 2(3): 1-21. Available at:
http://mpra.ub.uni-muenchen.de/23161/
Donaldson T, Preston LE (1995). The Stakeholder Theory of the Corporation: Concepts,
Evidence and Implications. Academy of Management Review, 20(1): 65-91
Enyeribe O (1990). Nigeria Cooperative Societies. AmazingGrace Printing Company, 9(2):
98 – 100.
Freeman E (1984). Strategic Management: A Stakeholder Approach. Englewood Cliffs, New
Jersey, Prentice-Hall
Freeman E (1999). Divergent Stakeholder Theory. Academy of Management Review, 24(1):
233-239
Gertler M (2001). Rural Co-operatives and Sustainable Development, Saskatoon SK: Centre
for the Study of Cooperatives, University of Saskatchewan
Gibson R (2005). The Role of Cooperatives in Community Economic Development, RDI
Working Pp.3
Grove F (1985). What is Cooperation? The Philosophy of Cooperation and It's Relationship
to Cooperative Structure and Operations, Madison: UWCC Occasional Paper No. 6
Helms, JE (2005). Challenging some misuses of reliability in studying White racial identity. In
R. Carter (Ed.), Handbook of racial–cultural psychology and counseling, 1, 360 –390.
Hoboken, NJ: Wiley.
Hansmann H (1996). The Ownership of Enterprise, Cambridge: Harvard University Press
Henehan B (1997). Cooperating for Sustainability, USA: Cornell University

Hirschman, A.O. (1958), The Strategy of Economic Development, Yale University Press, New
Haven, p.83.

International Cooperative Alliance (1995). Statement on the Cooperative Identity: Report to
the 31st Congress Manchester, Review of International Cooperation, 8(8): 3-15.

Kindleberger, C. P. & Herrick, B. (1997). Economic development. New York: McGraw-Hill
Kotler P (2009). Marketing Management. USA: Prentice Hall Publication Inc,

Laidlaw AF (1974). The Cooperative Sector, Columbia: University of Missouri
Levin M (2002). The Promotion of Cooperatives, ILO Cooperative Branch, at
www.ica.coop/europe/ra2002/speech

Maduegbuna AN (2010). Capacity Building in Management and Entrepreneurship: An end
to organizational paralysis‘, in Nkamnebe, A.D. and Nwankwo, F. (eds.) Capacity
Building in Management and Entrepreneurship for Sustainable Development, Nimo:
Rex Charles and Patrick Ltd.

Mahmoud D (2005). Private Sector Development and Poverty Reduction in Nigeria:
Mainstreaming the Small Medium Enterprises Sector‘, The Nigeria Economic
Submit Group (NESG) Economic Indicators, 11(1): 18 – 23

Malo W, Vezina S (2004). Governance and management of collective user-based enterprises:
Value-creation strategies and organizational configurations. Annals of Public and
Cooperative Economics, 75(1): 113- 137

Manap, N. A., & Tehrani, P. M. (2014). The contribution of cooperative law to economic
development in Malaysia. Asian Social Science, 10(15), 283-290.
DOI: 10.5539/ass.v10n15p283

Misra SK, Puri VK (2008). Indian Economy, Himalya Publishing House, 26th Edition, New
Delhi

Nafziger EW (2006). Economic Development (fourth edition), New York: Cambridge
University Press: New York.

Nduaguba C, Ademu Y, Alufohai EA (2014). Promoting youth empowerment through
engagement with cooperatives. International Journal of Youth Empowerment and
Entrepreneurship Development 1(1): 46-56

Nwankwo F, Ewuim N, Asoya NP (2012). Role of Cooperatives in Small and Medium Scale
Enterprises (SMEs) Development in Nigeria: Challenges and the Way Forward. An
International Multidisciplinary Journal, Ethiopia 6 (4): 140 – 156.

Olaleye YL, Adekola G.(2006). Impact of co-operative societies on poverty alleviation: A
study of three main co-operatives societies in Ibadan, Nigeria, Education for Today,
6:109-120.

Oseyemo O (2007). General Principle of Business and Cooperative Laws. Lagos: Mikzek
Law Pub. Limited.

Prakash D (2003). Governance in the Management of Cooperatives in Governance in
Cooperatives: Report of a Stratified Study of Governance Practices Applied in
Cooperatives, Nairobi: Centre for Corporate Governance.

Rodney W (2005). How Europe Underdeveloped Africa. Lagos: Panaf Publishing Inc
Schumpeter JA (2011). The entrepreneur: classic texts by Joseph A. Schumpeter. Stanford,
California: Stanford University Press.

Schumpeter, J. A. (1961). The theory of economic development: An inquiry into profits,
capital, credit, interest, and the business cycle (Vol. 55). Transaction Books.

Shaw L (2006). Overview of Corporate Governance Issues for Cooperatives. Discussion
Paper Commissioned by the Global Corporate Governance Forum for the Working
Meeting on Corporate Governance and Cooperatives, London, 8th February, 2007

Somavia J (2002).ILO Recommendations No 193 on Cooperatives, Retrieved
on April 10, 2016, from http://www.ica.coop/europe/ra2002/speech

Sundaram A K, Inkpen AC (2004). The Corporate Objective Revisited” Or g a niz a tion Science,
15(3): 350-363

Taimni K K (1997). Cooperatives in the New Environments: A study of the Role of the
Registrar of Cooperative Societies in Selected Countries in Asia, Rome: FAOUN

Todaro MP, Smith S (2009). Economic Development. India: Pearson Educational,
Toluwase SOW, Apata OM (2012). Impact of Farmers’ Cooperative on Agricultural
Productivity in Ekiti State, Nigeria. Greener Journal of Agricultural Sciences, 6(15):
34-48.

UWCC (2002). Cooperatives. University of Wisconsin Centre for Cooperative,
Retrieved on March 20, 2016, from, h t t p : / / w w w . u w c c . c o m

Wanyama FO, Develtere P, Pollet I (2008). Encountering the Evidence: Cooperatives and
Poverty Reduction in Africa. Working Papers on Social and Co-operative
Entrepreneurship WP-SCE 08-02-2008.

Wheeler D, Colbert B, Freeman RE (2003). Focusing on value: Reconciling corporate social
responsibility, sustainability and a stakeholder approach in a network. World Journal of
General Management, 2(8): 1 -8

Woolcock M, Narayan D (2000). Social Capital: implication for development Theory,
Research and Policy. World Bank Research Observer.

Wikipedia (2006): Cooperative. Available at www.en.wikipedia.org/wiki/cooperative

DOWNLOAD PDF

---

Back